Aurora Loan Servicing filing for BK.
Anybody knows anything about Aurora filing for BK, are they still doing SS approvals? i just got a new listing and it is with Aurora
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Redline Recovery Services for Chase
I have an approved HAFA short sale with Bank of America with an auction date of Feb. 23. The second is with Chase but is now being handled by a collection agency name Redline Recovery Services. I am talking with the collection agency representative
Read more…Aurora Filing for BK
Anybody knows anything about Aurora filing for BK, are they still doing SS approvals? i just got a new listing and it is with Aurora
Read more…BK help!
So I have another file sent over to REDC from BAC to do a "Cooperative Short Sale". This one was included in a chapter 13 BK a couple years ago. My negotiator called me yesterday to tell me the net requirement they needed and also that since I didnt
Read more…Multiple Liens after contract has been ratified
An agent in my office contacted me to help her. This is the situation. Sale was a regular one until it was just discovered owner was not upfront and has liens amounting to 50K+ ( HOA and at least 2 mechanics liens). I am told owner has money to pay t
Read more…Panel Discussion at Keller Williams Family Reunion!
Who is going to the KW convention next week?
I will be facilitating a ROCK STAR panel with 4 of the top short sale agents in the country. The best of the best will be on the panel.
Kayte Gentry
Kevin Kauffman
Barbara Dopp
Toni Patillo
Session Inform
Read more…What is considered Owner Occupied?
I am working a GMAC first and second. Last year (2011) I had it approved and the buyer could not get financing. It took months to get a new buyer. The negotiator now tells me that the loan was discharged and now he is acting on the file like it was
Read more…Great to see ALOT of superstars at Keller Williams Family Reunion today
Good to see everyone!!!! Hope you enjoyed the panel discussion.
Read more…PNC 1st Bank of America Home equity 2nd- Ideas needed
The situation:
PNC is the 1st mortgage and Bank of America Home equity is the 2nd.
PNC approved the short sale with allowing the 2nd lien a payoff $2340.00
Bank of America also approved the short sale however, the mortgage insurance company is d
Read more…Verbal approval ---> Written approval
Hi there! We got verbal approval from Chase on Jan 28th. They want it closed by March 1st and they said written approval will come in the next few days. We went ahead with the inspection, our appraisal and we have all of our loan documents ready to g
Read more…HELP!! Wells Fargos Won't Release Insurance Claim Check Delaying Short Sale Closing
We subitted an offer on a Wells Fargo FHA preforeclosure. In the offer we stated that the home was located in the path of a major hail storm and requested that the insurance company be notified. If hail damage was found the seller agreed that the s
Read more…Banks in $25B deal to settle foreclosure abuses How will this affect the Short Sale BIZ?
As reported on CBSNEWS.COM
Banks in $25B deal to settle foreclosure
"The agreement, which the U.S. Justice Department announced Thursday after more than 16 months of negotiations involving all 50 U.S. states, federal authorities and the banks, provi
Read more…third party facilitators
We are in final stages of approval. Wells Fargo holds 1st (FHA) and there is no 2nd. 6% approved for brokers and $1,000 to seller for relocation assistance via FHA. $1,250 denied for facilitator (processor/lic mortgage broker). An agent in my office
Read more…Chase to be on equator by july
Chase will be on equator by July . Just informed by a Chase VP
Read more…What would be better for my clients to take Regions Bank deal or file bankruptcy
I am doing a short sale with my clients and they have a first with Bank of American and second with Regions Bank. Bank of America has offered to pay a certain amount to Regions they will accept, but only if my clients will sign a loan on 50% of the
Read more…Short Sale Income tax advantages
Here's the scenario: Homeowner stopped making payments on both first mortgage and HELOC. 18 months later a short sale is approved by both lenders. Lender #1 gets the bulk of the sale and nets $200k from a $350k note balance. Lender #2, the junior
Read more…2nd Loan or Mortgage is Higher Balance Than 1st Loan or Mortgage - HAFA Short Sale ?
The 2nd mortgage is a Home Equity Line and balance is significantly more than the 1st mortgage. So, 1st mortgage would be paid in full with short sale proceeds (no short sale with 1st loan). Will 2nd loan Home Equity allow for a HAFA short sale with
Read more…Hardship Letter
I need to help a Seller write a Hardship Letter for being underwater. He is Self-employed and can afford to pay the mortgage. But has moved from the house to be closer to his job.His home is worth about $500,000 and owes about $780,000. Any suggestio
Read more…BOA "Litigation Code" on file and cant talk to you...
Has anybody been getting this from BOA lately. I have two files initaited in Equator and close to being approved. Then all of a sudden I am told that there is a "litigation code" on the file and they are not authorized to speak with me until the li
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