I am looking to buy a short sale in Colorado. Mortgagee has been dead for almost a year. Property is in preforclosure. No will and no probate estate has been opened... family indicates they won't in the future. $98000 on the 1st owned by PennyMac. 22
Read more…I was told by Wells Fargo that my seller must be 31 days past due in order for them to consider a short sale. Does anyone have any experience with this?
Read more…We are purchasing a short sale and we got the approval and the closing date. Then the selling agent called me to tell me that they forgot to put the paperwork in the contract that states the bank will not go after the sellers for a deficiency judgeme
Read more…I have a short sale, whereby the first is GMAC and its loan amount is less than the second. GMAC is $59,000 and BOFA is $64,000 and Past HOA Dues is around $5,500.Home is worth $75,000. The borrowers have hardship and qualify for a short sale, howeve
Read more…Hi there,
I am in IL and we have a contract for a short sale property. The contract was entered into in July 11th. We know that the seller's bank is Chase.
Any idea on how long it takes for the approval? Also, how is Chase with short sales (approv
Read more…I have a buyer that has come to me in the Chicago area wanting to buy homes in bulk. Can any one tell what banks are selling in bulk or where I can get some answers. Thanks for your help!
Read more…This is just an incredible site!
This is kinda "off the wall" dont do loan mods, but I have an elderly family member that I am trying to
help. BOA/FHA . (I am involved just because it very close family!) If anyone can shed direction I would apprecia
Read more…Friends,
I recently got a call from my assigned Chase short sale negotiator denying the short sale because she said that Freddie Mac's guidelines do not allow my homeowner to purchase another home, which they did. Long story short, we started the s
Read more…Just when we think we are getting close! We received word via email last week that Quicken Loans (PNC 2nd) had approved our purchase price offer as well as the 3% towards closing, prepaids, escrows, however they are denying a request for $6k in escr
Read more…I am dealing with Metlife who have subsequently lost 2 LoA's, the borrower financials, hardship letter etc...
I can never get in touch with anyone who can tell me anything and I am hoping someone may have a direct line to call - thanks!
Read more…My prospective buyer did enter into an 'Owner Financed Agreement' for the property he currently lives in. He did make payments for about 10 years. "Owner" was foreclosed and Fannie Mae is now the property owner.
Fannie Mae then entered into a 12 mont
Read more…I wanted to get some ideas on what others are doing to get the word out there that they are short sale specialists. Here is what we are currently doing: * Blogging We have a short sale blog (typepad blog), a regular area real estate blog (typepad bl
Read more…I received an Equator task late last Friday afternoon asking for some additional information about the buyer's mortgage. . With the request was a notice that the file would be deleted if the information was not received in 24 hours. Since I am the
Read more…Does anyone have any sugesstions .
on 5/20 they said we would know in 30 to 45 days
we called every week
had it escalated , they forwarded it to a manager etc
last nights call they said hmmm no update oh by the way it was sold to Nation Star yes
Read more…I have been using your site as a reference for the past 8 months and I really appreciate all the help it has been. Today my Realtor sent me this email he received in Equator but he is not sure what it means either although we believe it to be positi
Read more…HI Guys, if anybody out there had a similar situation please share it with me. I had a HAFA Short Sale approval originaly with Aurora Bank, right after they gave me the approval they transfer it to NATIOSTAR Mortgage. well buyer started to do his pr
Read more…Are there any contacts out there with Ocwen? I have an Approval, with a Foreclosure Sale Date that I am fighting tooth and nail to get postponed. My Approval Letter was good for 2 weeks. Not enough time with a Financed Buyer, a 2nd, and multiple t
Read more…What success have any of you had in getting more than 1% of the purchase price in closing cost assistance for the buyer? I know the FHA program is technically 1% of the buyer's mortgage loan amount and all the other stuff in HUD Mortgagee letter 2008
Read more…Hello, Everyone,
I just started working on a file where the sellers are in Chapter 13 bankruptcy and need to short sell. The lender is Wells Fargo and the loan is conventional. I asked the currently assigned single point of contact/processor in th
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