Has anyone heard of an alternative federal program that would allow a lender to accept a property from an underwater/defaulted borrower and exchange it for a property from the lenders REO inventory as an alternative to a Deed in Lieu of foreclosure a
Read more…I have a potential short sale coming up and I'm hoping to get a better understanding of what the potential repercussions might be for the seller. The home was originally purchased as the owners residence but he has long since moved out of state and
Read more…I am about to negotiate an offer with my first short sale listing. I did add on an experienced short sale agent to co list with me. However, I haven't been able to reach her yet. In the offer, the 'As Is' paragraph of the contract is crossed out b
Read more…Hi all -
I closed one last March just like this new one I have. IndyMac 1st and BofA 2nd. Tenant want's to buy and I already got the info (at least from a couple of agents) here regarding that issue.
Wondering if there's anything new that is happen
Read more…I listed a property. This is a certified HAFA file . Our brokerage has over 600 agents in our office. I had a shortsale denied because one of the realtor in my office gave me an offer under his LLC. Since we have the same Broker. Bank Of America cla
Read more…Our closing attorney won't sign the Freddie addendum. Many attorneys around Atlanta won't sign it because of section 13. I have heard that WF made an exception and allowed a closing without the form but BOA is saying no addendum, no short sale. An
Read more…All right..........maybe somebody will help. I have short sale with two mortgages ( Wells Fargo and BoA) and BoA is second mortgage and there is MI on this loan. Wells Fargo is paying $1800 to second, but second's MI company wants $3000. My seller i
Read more…Since my client and Regions Bank(2nd mtg.) could not come to agreement. We were not able to move forward with a short sale. Now Bank of America has offered them a Deed in Lieu. Should they look into this? This is a home that they are not living i
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When Chase started sending incentive solicitation letters to their borrowers in hardship early this year, many in the real estate industry were excited about the potential positive impact it could have. Sending letters to home owners offering $5,000
Read more…Finally, there is some consensus on keeping unlicensed individuals from practicing real estate in the short sale arena, an unfortunate and increasing practice in our industry.
I can understand that there are unlicensed individuals that may "process
Read more…Hi, I had a bit of a crazy idea that I wanted to run by some collegues.
I have a seller who has a first w/ PNC, house is approx $80K underwater. They just bought a second home and moved into it. They want to SS the first house, but are considering
Read more…I've had transactions fall apart for lame things, but this is the lamest!
Ready for docs, and JMac (the lender my client's mortgage broker chose) tells us
they need a short sale approval letter stating the purchase price, not the pay off
amount. They s
In September my client received the HAFA approval letter that set forth the conditions of her "approved" HAFA sale which included a $3000 relocation assistance. We submitted a full price offer and added $3000 to the top for seller concession. A week
Read more…Here's interesting reading material. Finally, a size 14 boot to the rear end of a bank. I know there are more case wins out there but, not publicized that often.
http://www.huffingtonpost.com/2011/11/15/dennis-blackmon-georgia-judge-mocks-us-bank
Read more…Has anyone out there seen the disturbing trend in the last couple of months with Freddie and Fannie insured loans. They both appear determined to foreclose on solid short sales with good offers. This trend started about two-three months ago and the
Read more…Would you CA Short Sale Superstars provide me with accurate information?
* Based upon your interpretation of Gov. Jerry Brown California Senate Bill 458 enacted last July. I need to determine the general applicability of anti-deficiency protections f
Read more…After Waiting all day by the cell.
Received a call from Ocwe with a very bad reception.
almost 18 minutes later and the Negotiator has not re-call.
Are they aware this is what I do for a living and I am not on a paycheck.
This is overwhelming.
Read more…If you are the listing agent on a SS and you get an offer that has a tight closing (45 days)...and the buyer is unwilling to make it more reasonable, do you recommend your seller reject the offer to keep it active, or accept it anyway to get the ball
Read more…Does anyone out there have a letter they use for the condition of the home the seller is selling? I need to have something in writing that I can have my sellers sign so that they acknowledge that the house needs to be completely vacant and free of d
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