I have a homeowner who is strapped. Sale is approved, MI wants $5000 and homeowner doesn't have it. She offered $2000 and they said "no" - she has to BORROW the $2000. The servicer is claiming she doesn't really have a hardship and looking at her
Read more…I have just hit a brick wall with a small bank here is GA
It is an investment property with one loan with Brand Bank at $225K and is only worth $120K
We have a $120K offer but Brand Bank has handed it over to a Foreclosing Attorney and that is who
wi
Read more…I am looking for places/ways short sale realtors advertise their services. Where do you get the most bang for your buck?
Read more…In equator i was asked to submit a (2009_Addendums_WFHMsiglines.doc or 2009_Addendums ASC-siglines.doc) They didn't send me one and I can't find it online.
Read more…Hello I'm near the finish line to closing on a short sale, it's been rough but I'm almost there! One issue I'd like to discuss is this. In the beginning I was never aware of the terms that came with the sale not once was it disclosed to me that I wou
Read more…I have done a number of short sales, however, recently I had a homeowner contact me who had a Notice of TD sale put on their front door. The homeowner told me that she had a Capital One first and no second. Even though the clock was ticking and th
Read more…I need some suggestions here on a post that I started last week regarding a last minute judgment. That post evolved into a discussion regarding RESPA, so I decided to repost and keep this conversation on topic:
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We have short sale (HAFA, non-
Read more…My husband and I put an offer in on a short sale at the end of Feb. this year. It only took three weeks to get a counter offer by the bank (not sure who bank was, as it was never disclosed to me by our agent). We signed purchase agreement papers a
Read more…I took a listing to find out later that there is a $16,000 3rd lien (pool lien) on the property. Homeowner did not disclose this as he is up to date on the payment and didn't think he would need to include this in the short sale. The 1st and 2nd are
Read more…We are in California and I have a listing that has 2 loans 1 with US Bank and 2nd with Bank of Stockton.
My client's job was termintated and he will be receiving a severance package. On is last check it shows that he was paid for sick leave and vacat
Read more…Has anyone gone to Aurora and asked for concessions after the inspections were done? I have a buyer that is thinking of doing that due to siding and roof issues. This bank has been extremely difficult to communicate with so I hesitate to even attempt
Read more…We have several clients whom are being contacted by collection agencies trying to collect money although Chase provided the seller with a "Full Deficiency" in writing and the deal has already closed and been processed? When the client provides the cr
Read more…Good Morning Alll....
Looking for alot of insight. I have a listing. The homeowner tells me he has a reverse mortgage. I contacted Wells Fargo. He has a reverse mortgage. He owes approximately $70,000. The house is worth about $20,000. Wells
Read more…Hi all, I'm looking for some help in getting an FHA short sale out of the starting gate. Property is owned by 2 people as joint tenants with right of survivorship. There is a Judgment entered against one of the 2 owners. In Maryland, a Judgment again
Read more…I would love some input here! I have a new SS transaction with BAC as the FIRST, which is not being shorted, and IndyMac as the 2nd. BAC has sent a notice of default (we live in AZ) with an auction date set for June 22. Since they will get all of
Read more…With all the restrictions on what banks and lenders will and won't do, what Fannie and Freddie will allow and whom HAFA says can or can not contribute, I am utterly confused as to when RESPA rules/law are violated.
Example: We just found out about an
Read more…
Hi,
I just received a counter on the equator for 4% commission for dual representation:
Questions:
(a) Must I accept 4% if I am representing both Buyer and Seller.
(b) I was recently solicted by a company wishing to reprsent me for mandated comm
Read more…A possible short sale client said that her mortgage lender (Bank of America) said they are not eligible for a short sale because they refinanced on their home after 1/09/2009 and their their only options are a deed-in-lieu or foreclosure.
Is this
Read more…This may be a regional question, A recent Miami Herald article says RE are slowly creeping back to "normal", They said a year ago distressed home listing account for 70% of all homes listed, now it is 50%, so it's SLOWLY "creeping back to normal" a
Read more…I have an issue with a high bank appraisal. Home will never sell at the bank's perceived value
Home is a short sale, HUD is the investor(PNC is the bank).
Bank Appraisal #1 came in high, we requested another. Bank Appraisal #2 also came in high($10k
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