I am processing a short sale through Chase and they have informed me that they want me to remove my $350 short sale processing fee that was disclosed on the MLS listing, agreed to in writing on the PA as well as a short sale addendum to PA. I told t
Read more…Here's the scenario: Homeowner stopped making payments on both first mortgage and HELOC. 18 months later a short sale is approved by both lenders. Lender #1 gets the bulk of the sale and nets $200k from a $350k note balance. Lender #2, the junior
Read more…I am currently working a short sale where the offered price pays the first mortgage holder (VA loan) in full, and has about 60% for each of the remaining two mortgage holders. I was told Friday we are waiting for the VA to do an appraisal and the as
Read more…Okay, so it's established that if the buyer is going to contribute to the second to get them to release their lien, it must be on the HUD.
However, where does it need to be on the HUD? Does it matter and what are the different implications? Does it
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