So I have a client who filed chapter 7, well it was discharged in 7/11. Last fall he had to leave his contract job for a job out of state. Turns out with his new job he is making very good money. In the meantime we started a short sale on his house (
Read more…I'm dealing now with Triad on a deal, they've denied our short sale. Despite financials that show an upside down position, they will not admit they see any hardship in her situation.
I'm wondering if anyone has worked with them, and if they ever appr
Read more…We, an attorney paralegal and myself sat and watched as much of a webinar as we could bare today. With the reinvention of the mls, pictures, and repeat information, the ongoing reference to paychecks and on and on... we finally shut the webinar off
Read more…So I'm wondering if anyone has had experience with one of these "Coop" short sales where the second is demanding the $2500 sellers incentive and B of A has allowed them to keep it? I have a file where the second(Old Republic) is demanding that they k
Read more…Is this a bad idea? The house has been on the market for a long time and has two mortgages, both with BoA. I know what they owe, approximately. The house has now been reduced to $575,000 and is assessed at just over $700,000. They owe about $100,
Read more…I just had CALHAFA, deny my short sale due to my clients income being high. Can anyone give me some advise as to how to get approval?
Read more…CALHA Denies Short Sale, (Califonia Hosing Authortiy) because of my clients income being too high.
Can anyone offer some advise if you have had experienc with CALHA.
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I have been working on a short sale since September 22,2011. What an ordeal. it seems that their customer calls are outsourced to India. The worst is that most agents do not comprehend the mortgage language. At the end of the call all seems that it's
Read more…What's the difference between a "HAFA approved" and a conventional short sale?
Read more…Can a person short sale their primary home if they have rental property? If so will they likely have to come to the table with funds?
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But none he less of interest to us all. Anyone know if when a Homeowners Assn and or a Condo Assn forecloses on a property, because of non payment of dues , it is the same or a different court process that a lender must go through when they forecl
Read more…I have a Bank of America short sale being handled by REDC for the first. The seller also has a home equity line of credit with Bank of America, and that 2nd needs to have a payoff requested so it can be included in the HUD-1 that gets submitted with
Read more…I tell clients and agents that one of the keys to getting short sales approved, or at least understanding the process, is knowing who has to yes. The lender(s), obviously, has to, but there's often a second entity -- VA, HUD, an MI company, and I ass
Read more…First let me disclose, I'm a 3rd party negotiator, but our business model never takes an up front fee. We are only paid if we can close the sale. I recently had a homeowner contact me that wants to work with me, that had another 3rd party negotiato
Read more…Question: I submitted an offer on a short sale which took 2 months for approval and were schedule to close, however, a day before closing the listing agent decides to lower my commission because according to her our office does not pay what she pays,
Read more…I'm working a short sale with SunTrust, and they have asked for the seller to complete the Fannie Mae form 710, Uniform Borrower Assistance form. I don't recall sellers having to complete this for a VA short sale.
Read more…How do I prepare the estimated HUD? Should I just show it as 1-line item or 2?
Read more…Has anyone had a short sale approved for a property that was owned by a trust?
If so, what documents did the lender require?
Read more…Good morning all,
I have a question. I am fairly new to doing short sales. I have 5 successful closing from the day I started last year in October.
I am working on a file where Nation Star is the first (Fannie Mae) and Suntrust is the second. I have
Read more…Got an appvl from Chase in 3 weeks, sellers were not expecting it so fast. We need to close by the end of Feb but sellers can't move until May 15th since they are leaving the country and have no where else to go in the meantime. I am ready to prepa
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