Short Sale while home is in Probate - Short Sale Superstars2024-03-28T18:54:27Zhttps://shortsalesuperstars.com/forum/topics/short-sale-while-home-is-in-probate?groupUrl=bankofamericashortsales&feed=yes&xn_auth=noNever heard of someone having…tag:shortsalesuperstars.com,2018-06-19:3468065:Comment:3934942018-06-19T17:46:56.686ZBrett Goldsmithhttps://shortsalesuperstars.com/profile/BrettGoldsmith
<p>Never heard of someone having to assume a loan to do a short sale on an estate. Not sure if I've done a FHA short sale with deceased borrowers, but I've done 20+ with private investors with many servicers and never heard of this. Generally the heir or representative needs to be granted the executor of the estate through probate and then they have the authority to attempt to complete a workout option ( short sale ) on the account with the mortgage…</p>
<p>Never heard of someone having to assume a loan to do a short sale on an estate. Not sure if I've done a FHA short sale with deceased borrowers, but I've done 20+ with private investors with many servicers and never heard of this. Generally the heir or representative needs to be granted the executor of the estate through probate and then they have the authority to attempt to complete a workout option ( short sale ) on the account with the mortgage servicer.</p>
<p>Brett@ishortsalenow.com</p>
<p>310-564-6389</p>
<p><a href="http://www.ishortsalenow.com" target="_blank">www.ishortsalenow.com</a></p> I have talked to everyone at…tag:shortsalesuperstars.com,2018-06-19:3468065:Comment:3931892018-06-19T03:36:44.303ZChris Zubryckihttps://shortsalesuperstars.com/profile/ChrisZubrycki
<p>I have talked to everyone at B of A, escalated, everything. Still getting same answer. Estate will just let home foreclose. </p>
<p>PR has also been very slow to get back to me lately, so the writing is on the wall from B of A and from the PR. Was hard enough to get the third party authorization filled out by the PR at the beginning (should have been a sign to me at that point)</p>
<p>Thank you for the responses!</p>
<p>I have talked to everyone at B of A, escalated, everything. Still getting same answer. Estate will just let home foreclose. </p>
<p>PR has also been very slow to get back to me lately, so the writing is on the wall from B of A and from the PR. Was hard enough to get the third party authorization filled out by the PR at the beginning (should have been a sign to me at that point)</p>
<p>Thank you for the responses!</p> Never have had to do that wit…tag:shortsalesuperstars.com,2018-06-19:3468065:Comment:3931862018-06-19T02:02:36.320ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
Never have had to do that with a probate. That is financial suicide for the Personal Representative. What if the Personal Rep has substantial assets or cash of their own? Why wiuld Pers Rep assume and get their credit report slammed? I woud 1) shout it iut to everyone that would listen, CFPB, Congrssnan, FDIC, Dept of Treasury, Attorney General. 2) let it foreclose.<br />
Just ludicrous
Never have had to do that with a probate. That is financial suicide for the Personal Representative. What if the Personal Rep has substantial assets or cash of their own? Why wiuld Pers Rep assume and get their credit report slammed? I woud 1) shout it iut to everyone that would listen, CFPB, Congrssnan, FDIC, Dept of Treasury, Attorney General. 2) let it foreclose.<br />
Just ludicrous Hi Chris, IF this is an FHA l…tag:shortsalesuperstars.com,2018-06-18:3468065:Comment:3934892018-06-18T22:35:52.047ZChad Gelsingerhttps://shortsalesuperstars.com/profile/ChadGelsinger
<p>Hi Chris, IF this is an FHA loan, then YES, the Personal Rep will have to assume the loan to proceed. Some of the other lenders (Wells Fargo and Mr Cooper) are now following this FHA guideline. Bank of America has done this for several years now. Chad. </p>
<p>Hi Chris, IF this is an FHA loan, then YES, the Personal Rep will have to assume the loan to proceed. Some of the other lenders (Wells Fargo and Mr Cooper) are now following this FHA guideline. Bank of America has done this for several years now. Chad. </p>