Client bought the one bedroom condo back in 2005 as a single man. Got married and had a kid. Purchased a 3 bedroom 2.5 bath SFR in 2011 so he and his family could fit comfortably. Condo is like 200K upside down. Client doesn't have the cash to pay th
Read more…Good morning Superstars.
If you handle Short Sales then you know the importance of the BPO. Lenders heavily rely on the opinion of a neutral agent when it comes to placing a value on the short sale property. So it's important that the agent doing th
Read more…I was reviewing a $30,000 offer from Chase that directed the home owner to contact a CDPE agent.
Has anyone gotten short sale assignments from lenders or home owners calling because they wanted a CDPE?
Read more…Here one for everyone ,we have a 66 arce parcal 2 miles off the grid ,and over half of the land is rock ,no power(solar only) ,and a naurtal spring is the source of water, was listed at 75,000 ,got a offer for 60,000 BOA investor counters us at 150,
Read more…Now I know from prior experience on this site I am going to get some vehement obections to this post but I wanted to put my two cents in anyway. I am at this point in time about one transaction away from making a company wide decision to not accept s
Read more…Involved with a potential CITI shortsale (FHA) since offer submission on February 10th. Pulled teeth the whole way through with new BS every week. Finally got a negotiator assigned, one who loved autoresponder messages and took more vacations that
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Hi have any of you had any issues or luck in negotiating down the HOA lien with the Solera at Apple Valley Community PCM of California attorneys? I have closed and negotiated HOA liens successfully before, and with this HOA and their attorneys, but
Read more…We have a short sale with CitiMortgage and had submitted the paperwork back in April. Everytime we call it is a "black hole" and no one can find the paperwork and a loss mitigator isn't assigned.
Does anyone have any ideas how to cut through th
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I am attempting to escalate a file. Our short sale expires tomorrow.
I jusst need one extra day to get this done. The negotiator says an extension will cost
a 10% increase to the net amount due.
there is not room for that. Any suggestions or lu
Read more…I'm negotiating a Chase short sale with Freddie Mac as the investor and I want to share closing instructions that I was told are "fairly new." I only learned about the closing instructions the day before the close date and it was incredibly stressful
Read more…I need some suggestions on requiring the buyers to have some "skin in the game" when purchasing my short sale listings. When a buyer agent presents a contract to my seller they are required to submit it along with my buyer agent guidelines which set
Read more…My friend is asking me if it would be advantageous to do a Deed in Lieu on her property rather than wait and go through a short sale?
Read more…Listing agent just informed me that M & I BANK only paying 4% total commissions on vacant lot short sale. $815K loan amount, $475K contract price(appraised $520K). Can we force Lender to pay 6% under any NAR or Government guidelines? Thx - Bob
Read more…I am working on a Bank of America co-op short sale (Fannie Mae) where the negotiator states that the maximum allowable settlement fee to the attorney is $750.00. Has anyone else faced this same limitation? If so, are there other allowable fees to t
Read more…What could be the pitfalls of a soon to be short sale seller, that wants to buy another house, before he short sells? Mortgage is with BofA.
Read more…Bank of america will be receiving their NET price the investor is looking for. Now we have a 2nd lien with Green tree and they want more money to release full deficiency. Buyer may be willing to contribute.
Does anyone know if Bank of america allows
Read more…Wondering if anyone has any contact information to gain status on a short sale which was just transferred from another lender
Read more…I'm upside down on my mortgage with TCF and they will not renegotiate- I'm looking for any info on short sales and TCF-
Thanks,
Dave
Read more…I submitted an offer on a short sale 2 months ago (GMAC) and just a few days ago the realtor called and told me they need my address, no problem I provided it, I thought it was on the initial offer, but after checking it wasn't. I'm just wondering wh
Read more…Visiting a longtime college friend in Tampa. Haven't seen her for 12 years. Find out she is short saleing her home as she lost her job and had to move in with her mom that has dimentia. Her agent listed the home for $75,000 she got an offer for $70,0
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