Mortgage Forgiveness Debt Relief Act
Does the Mortgage Forgiveness Debt Relief Act apply to investment property?
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Did Your Short Sale Instructor Teach You This Stuff?
Hi guys, We just added a bunch of articles to the Advanced Short Sale Training Group to help you in your business. Be sure to pop over and check them out.
- Negotiating Home Equity Lines During a Short Sale.
- Mortgage Insurance and Short Sales. Is I
Wells Fargo was Incompetent in this transaction!!!
Just recently I had a short sale where I was the buyers agent and there was a short sale approval and they even got an extension but the property sold in foreclosure.
In my opininion, Wells Fargo's RIGHT HAND(short sale dept) didn't know what the LEF
Read more…DOES ANYONE KNOWS IF WELLS FARGO IS CONTRIBUTING FOR SELLERS RELOCATION
ARE THERE ANY INCENTIVES FOR SELLER BESIDES HAFA? THANK YOU.
Read more…When to short a second
I am working with a home owner who is being foreclosed on by CitiMortage for $50,000. The bank as asking for a payoff of $75,000 because of fees accumulated. There is a second with BofA (HELOC) for $100,000. Payments have not been made for two years.
Read more…HAFA buyer contributions
Hi, all. This sounds elementary, but GMAC is telling me that buyers, sellers nor agents can contribute to the subordinate liens. The MHA guidelines do not address the buyers making contributions, unless I am missing something. The buyer is willing
Read more…10 REASONS WHY SHORT SALES FAIL - COMMON MISTAKES
Hello Short Sale friends,
Do any of you have the list that Broker Bryant had given on his teleseminar back in May of this year?
Thanks in advance for your help!!!
Please email to Stacy@RIRealEstateLaw.com
Read more…Short Sale Decline letter from B of A..talked to investor and he didn't decline short sale!
Has this happened to anyone? I think it is a case of the files getting mixed up with someone elses. I contacted the investor who is a local community bank and he is the direct contact for the individual investor. He was really surprised that there wa
Read more…Need help/advice on BofA REO deal
I am a buyer and the closing for a BofA REO is set for next Monday, July 16. Property is located in Colorado. Property's zip code is used by two cities, and Landsafe issued the title commitment with the right address but wrong city on it. My lender r
Read more…Bank of America ...help!
Here's my timeline... Oct 2011 made my first offer 305k plus 3% in closing March 2012 BOA countered at 315 plus the 3% closing I figured the end was near so I countered that same day at 310k and 3% closing figuring they'd take or counter back at t
Read more…BOA co-op sale with imminent sale date
I have some customers who are extremely delinquent and BOA approached them to do a co-op short sale; they immediately called me to get started and we have an executed listing agreement BUT we haven't begun marketing the property per BOA co-op guideli
Read more…Question on how to remove a seller's judment from a short sale house in contract
Hello, we are in contract to purchase a single home which is in short sale. The seller, and both lenders have approved the sale. We have ordered inspections and very close to closing. I just made tentanive arrangement for the termite treatment/tentin
Read more…Short sale with divorce
I'm working with a couple who are about $50K upside down. Loan is $152K, house value is about $103K. They are getting a divorce and need advice about how to handle the house and mortgage in the divorce papers. This is in Florida.
There is one loan
Read more…Will Ocwen approve a short sale without being delinquent?
I have a client losing about $700/month on an investment property. She can keep it current for a few more months in order to minimize effect to credit, but wondering if it's worth it? Will Ocwen review/approve short sale if she is current?
Thanks
Read more…Seller Question Regarding 1099-C and Possibility of an Investment Property
I would greatly appreciate some advice on my particular situation:
1. I purchased a home, in Florida, with my father several years ago for $290k. Because of my credit at the time, we received an 80/20 loan and my father is the sole person on the mor
Read more…Fannie Mae has blinders on for their REO homes?
I have a contract with Fannie Mae to purchase a REO home. Cash offer, only contingency is right to inspect.
Scheduled to close in March, 2012. One day prior to closing, their incompetent title agent found a title defect, we canceled the contract, th
Will financing change require all new approvals from SS Bank?
We are a buyer in a SS. Due to a 'lower than offer price' appraisal we are looking at getting different financing than we originally stated on purchase agreement (i.e. 95-100% financing vs. 90% with 10% down). If we change our financing terms and/o
Read more…Seller countering a Short Sale offer?
I recently put together an offer for my buyer clients to a short sale- been in the market for over two years with price rediculously high from 369, reduced to 336, then now priced at $309,000 we offered $270k which for the area is fair.
After three
Read more…PNC short sale
We just received an offer on a short sale where PNC hold lthe first mortgage and there is no 2nd. I have never done a short sale with PNC. Does anyone have any advice?
Read more…Coastal Bank & Trust Info Needed
Does anyone have Coastal Bank and Trust of Florida (formerly Vanguard Bank) short sale contact info? I have a business lien that will need to be released from a property in short sale.
Thank you!
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