Dear Short Sale helpers,
My husband and I put a bid in on a short sale house last August. We have been waiting almost 9 months for Flagstar Bank to accept our offer.... Yesterday, our Realtor called the bank and was told that our file was closed be
Read more…Does anyone has an escalation contact I can call?
The first loan (Seterus) issued an approval letter allowing $6K to Chase. Chase wants $15XXX.00 to settle. The owner filed BK and has already been charged off so if the home goes to foreclosure, Chse
Read more…I was asking for an extension from the 2nd lien holder Bank of america and they asked me if the 1st lien holder wells fargo is doing hafa for customer. I replied yes, you knew about it, as you accepted our hud with the big hafa relocation fee in blac
Read more…Superstars,
If only the husband is on title for a short sale property and he got married after he purchased the property, would his spouse's finances matter when the bank reviews the short sale file? I am assuming not, but I thought I'd check with th
Read more…Does anyone know what NationStar's policy is regarding agents as buyer receiving commission? Does it depend on the investor? Is having no relationship with the seller, listing agent, and lender constitute enough "arms length" to satisfy them?
Read more…Hi All,
I'm completely new to short sales. About 1.5 months ago, I submitted an offer on a shortsale (saw the home on Saturday, selling agent said he was submitting bids to BofA on Monday and any offers after that would be "backup" offers). Of th
Read more…I am the buyer on a short sale in Flordia, we have been moving through this process for a while now and have made it to the investor approval stage. The seller finally got all his paperwork together (which took forever) we submitted to BofA on 1st o
Read more…Since he is now officially a senior citizen, we shall call him Mr Tutas.
Happy Birthday my friend. Make TLW take you to dinner and have some fun tonight!
Read more…US Bank $96K, BOA $286K deficiencies.
I submitted a HUD-1 to US Bank allowing them $5.7K and they accepted with no counter within 1 week.
I wasn't anticipating this, so now I am preparing to start negotiating with BOA. Here are a few HUD-1 questio
Read more…1st is Bank of America $532,000 with a Chase HELOC $100,000. HELOC is at Professional Recovery Service who I believe is a specialty servicer and did not buy the note.
We have approval from the 1st with $6,000 going to Chase. The 1st would not allow 3
Read more…Anybody working HOA's? ...building relationships with HOA Managers and Board of Directors and then advertising in the Community Newsletter; having homeowner options panels, loan mod how-to classes, short sale info etc... would be a great win-win ...h
Read more…I have a short sale with 1st and 2nd with WF. The 1st is a Fannie and is asking for $5000 in cash or 17K promissory note to waive deficiency; my client cannot afford either. The 2nd is telling my negotiator and client that they will not negotiate t
Read more…I am taking a SS listing that has a first and second, the second being an equity line of credit of around $40,000 used for something other than the house. This home is a rental home. The money from the second was not used on the house, but for other
Read more…
I'm doing a short sale for a seller in California, he also have a property in Tampa Florida he needs to short sale. He has been about 6 months delinquent on that property and just received a lis pendens notice on 3/22/12. Property has 1 loan with B
Read more…I AM REPRESENTING BUYER AND SELLER.
BOFA ON FIRST, PAYING 4k TO SENCOND
SECOND IS GMAC WITH ETRADE AS INVESTOR, DEMANDING 15K. (NO WAY I CAN GET EITHER TO PAY MORE...THERE IS NO WAY)
BUYER IS WILLING TO PAY 11K shortage.
ORIGINALLY I SHOWED BOFA THA
Read more…Dear colleagues,
Would banks still dig into an individual LLC member's finaces in order to determine a short sale approval? And more importantly, can they pursue individuals for the deficiency after the sale is complete?
What are your experiences in
Read more…Does anyone know how much BOA allows to pay out on junior liens?
Read more…listened in on the BofA webinar yesterday. I thought it was very informative and not at all cryptic. BofA is giving all of us plenty of notice to get it right. If you can't take the time to get 5 documents signed, then quit doing short sales.
All of
Read more…Hello Everyone I am the Broker of my office and one of my agents ask me to be the listing agent for his home he is doing a short sale on. I explained to that agent that he would not get any commission at all and he is find with it. Is it a violation
Read more…Beware, if you have outsanding BofA Equator tasks still open after midnight 4/12 your short sale may be declined or you may have to start all over. The BofA webinar today was interesting, and cryptic.
4/13 is the starting date for some important c
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