Can HOA delinquent dues be negotiated down?
If so, by the selling agent...my agent? How does one go about this? Any successful stories to share?
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Chase Short Sale
Hi! I live in California and it's day 73 since our offer on a short sale property has been at the bank (Chase). BPO was done on Sept 20th. We haven't heard a thing since then. Is this pretty typical? Is it a good sign? I've realized Short Sales drive
Read more…Charter One Bank short sale
My wife and I put an offer in on a house on 9/24. Asking was 140,000, we offered 120,000. The home needs extensive updating and repairs inside as well as the owner disclosing a leaking roof. Comps in the area recently sold for 118 to 121. We then fou
Read more…Loan Modification on a FHA owner occupied home...
I have a client that wants to short sale and has a FHA loan, and the property is owner occupied. BOA is making her go through a loan modification process even though she wants to short sale. Is there any way around the modification?
Read more…Arms length transaction?
I have been asked to do a short sale. The owner of the home is also an officer of the corporation that owns our brokerage. I am also an officer. I have a feeling that this could be an issue with "arms length".
Any input from my knowledgeable coll
Read more…Need advise on short sales in Germantown Maryland
I live in California but own a rental property in Germantown Maryland. I am thinking about putting the Maryland townhouse for short sale because I loose money on it each month and its hard to manage it remotely from California. I had purchased the ma
Read more…HAFA and Inspections
Hello, I am currently working several short sales and learning something new each and every day. On a HAFA sale, buyers submitted a lower offer than the bank approved amount. (The bank approved amount is "high" and we were actively trying to get it r
Read more…USAA is demanding 50% of the deb on a HELOC!!! Can anyone help me with contacts or ideas?
Ive been working a short for over a year now.. The first is BofA and USAA has a HELOC 2nd....Originally USAA was going to cooperate with the short as my client was going to give them 25% of the debt cash at close, and take a personal note for another
Read more…UCC-1 Liens in California
It is my understanding that when filed correctly and within the prescribed time limits, in the State of California, UCC-1 liens become senior to the first mortgage or at least stay with the property once foreclosed on. With that said I have been unab
Read more…Find Out Tomorrow...!
Hi Everyone,
I am a green agent learning the business and came accross your site while assisting one of my first clients attempt to navigate ourselves through a short sale process on a condo with a VA loan through GMAC bank. Although I have not
Read more…Buyer changing their offer on a SS while waiting for approval.
Here are the details: A house that has a balance off 400k and the offer is 320k which is right at 100.00 per sq foot. The bpo was done 3 months ago and came back at 291k which was low. Their is also MI on the loan. Comps in the neighborhood at the t
Read more…How to get HAFA to move on this?
I have a buyer with an approved offer on BofA short sale. He requested an extension which was submitted to BofA about Oct 18 with an Original close date of Oct 25. Extension was requested to Oct 31 according to listing agent. All funds were wired in
Read more…Chase High Counter Offer
We made an offer of $365,000 on a great condo in California which was accepted by the seller. We've been waiting since July 25th for Chase to either accept or counter. Well, last night, Chase came back with counter of $435,000! WAY far from the comps
Read more…FHA guidelines??
Will FHA guidelines allow seller to pay for termite (if so how much)? Or does the borrower have to pay with the incentive??
Read more…Will Chase let you substitute buyers?
I have a single-lien short sale in process with Chase in which Chase countered the buyer and the buyer walked. Will Chase allow you to substitute a buyer or will the process start all over again?
Read more…BofA does it again
So here we are after replying to a counter offer from BofA on an active short sale, and awaiting approval. Today I get an email from the negotiator saying the home was sold at auction yesterday. No notice. BofA had previosuly approved a stay of fo
Do I need wife's financials?
I have a homeowner who would like to do a short sale on his home. The home is only in his name and so is the loan. He got married and move to a new home with his wife. He tried to rent out his previous home but tenants come and go so the rental incom
Read more…AmTrust Bank
I've never done a short sale with AmTrust Bank before. What are they like to deal with? Does AmTrust Bank waive deficiency judgments in their approval letters?
Read more…Death & Short Sale
I was just referred a widow whose husband died intestate here in Texas, a community property state. She is not on the mortgage and needs to short sell but AHMSI (sigh...) won't talk to her since she isn't on the mortgage. Has anyone dealt with a simi
Read more…Email Address for Firs Bank
Does anyone have a good email address for people at First Bank?
I have a short sale with Chase on the first loan and First Bank on the second. The second has had no payments for about 8 months so an attorney service is negotiating for First Bank. The
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