I suspected the sellers agent was doing something wrong from the very beginning. When buyer made an offer it has not been presented to a seller for a couple of days, as a matter of fact the seller did not even know there was an offer. Finally the con
Read more…I have the ATP and contract on my seller's home and tomorrow will be sending in to the stage 2 negotiator the preliminary HUD with my seller's signed ATP.
We had a contract on the house before our ATP was issued.
What happens to my timeframe or appro
Read more…Hello everyone! I am representing the buyer in a short sale transaction in SoCal. After five months of waiting we finally have both approvals, but I just found out that there are numerous HOA violatios at the property. Upon further investigation I fo
Read more…My sellers were told that they qualified for the HAFA program. An appraisal has been ordered by the bank. I know that HAFA will set the pricing guidelines. Since the home is currently on the market, should I accept any offers before the appraisal has
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I have seller who purchased home in 2004. He is alone on loan, but was married then and wife in on deed and mortgage. They got divorced 4 years later. Wife still lives in the house and we listed it for sale ( of course short sale). I deal with Bank
Read more…I have a file now that is in litigation. This is what happened: Buyers were ready to close on the date agreed to by both the buyer and the seller, except the Hazard Insurance refuse to write the policy because of a pending Storm. A big category 3
Read more…Got my ATP yesterday for my FHA PFS. Yay!! Now I have to submit the preliminary HUD. The seller had accepted the offer with the buyer's request for $4000 contribution towards his closing expenses.
I read on the FHA guidelines they only pay up to 1% t
Read more…Howdy Folks -
Just curious if anyone is seeing short sale approvals when the seller isn't delinquent. We just did one, but the seller was military and being transferred out of country. Most however, the seller has been delinquent. We are seeing
Read more…We just closed a difficult, 8 month transaction. The Seller had been dutifully keeping the HOA dues current, despite a serious hardship...so as to facilitate an easier short sale. During 8 months Buyer countered numerous times in "tiny" increments,
Read more…I have a friend whose daughter is under contract to purchase a short sale in Florida. So, he called me for advice (I am in NC).
To cut a long story short... the bank said that they have the right to negotiate directly with the Buyer and they are byp
Read more…I currently have a short sale with Bank of America that was approved to participate in their FHA pre-foreclosure program. Deadline is today and while I've had a number of showings on the property I have not been able to secure an offer at the sugges
Read more…BofA serviced Fannie Mae Investor short sale. Borrower is current but is truly facing imminent default. He has documented illness, curtailment of income, and depleted all of savings. As far as I understand Fannie Mae requires at least 1 payment behin
Read more…I am representing a client who is currently marketing his property for short sale.
We are working with the Government Loan Short Sale Dept and have just received a rejection for an offer that was submitted for the purchase of this home.
The reason
Read more…Does anyone know of any options for a seller when the second mortgager PNC refuses to particpate in HAFA? Has anyone seen the first mortgages allow the seconds through a regular short sale receive 30K when the first is being shorted by over 200K?
T
Read more…Hi all,
I've been searching the forum and I think I have the answer to my question but thought I'd throw it out there to double check.
I received an approval letter from central for a short sale here in Washington. Only one lender. No promissory not
Read more…Hi! I was just curious if any of you also do BPOs and if you are comfortable sharing, what company you do them through? I've heard both good and bad things but I was thinking about looking in to doing a few, depending on area/pay...
Thanks!
Read more…Anyone know a way to proceed to closing or remove a second place lien that has been charged off in the State of Virginia?
Read more…This will be my first short sale where I have to upload to Equator. I went to Equator and don't see where I upload documents? I only see where I "Initiate a File" and I have done that but how do I upload docs?
Read more…Late last year a short sale property in Plantation, FL with a FNMA 1st and SunTrust HELOC received a $295k offer. FNMA servicer counters at $305k based on a bad BPO. SunTrust never acted; Buyer walks.
Since Christmas three direct comps have closed
Read more…I have had an offer in on a short sale since Nov. 17th. The listing price was $650,000 and our offer was for full price. The comps in the area show that the price is right on...if not even a little over market. We heard on Feb. 14th that there was a
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