Hello All -
It's me again. Here is my new issue. I have has this short sale in process with a contract on the property since 8/26/11. The bank countered and the buyer accepted all of the terms from the Bank with no issue. The seller lost power
Read more…Has it made things easier or more difficult?
Read more…I am a CDPE and I remember in the course they discussed that under HAFA the bank has to do certain things within a certain time frame. How enforceable is that and what is the timeframe once BPO has been done for investor review? I have lost 3 buyer
Read more…New here so I'm sure this has been asked before, I subbmitted a SS package for HAFA at BOA in mid March the investor is Fannie Mae it took forever to get the appraisal done but it has been done now and I was told we were approved, but I still do not
This is the language of our approval letter:
"Upon settlement of the short sale proceeds, the mortgage loan will be reported to the appropriate credit reporting agencies as "Settled in Full for Amount Less than Owed." To the extent that there are
Read more…I posted a few weeks ago asking how long it took to get gmac approval on seocnd lien. I thought we would have approval by now. Our negotiator got our approval letter 18 days ago. On Thursday he sent out a arms length and name affidavit form for us to
Read more…I am waiting for the final letter for a bank of America short sale house that has 2 loans with bank of America. I just saws there was a notice from BAC and then saw people mowing the lawn. The listing agent said there is no default notice yet. Do I s
Read more…My broker tells me that when first lien holders negotiate a short sale, they think they are only allowed to give the 2nd lien holder 6% of the balance owed to the 2nd lien holder. My broker says this only pertains to HAFA short sales, but first lien
Read more…I'm in a short sale situation that I don't know is even possible to get approval. There is a first and second mortgage on a condo in CA that may sell for about $95,000. There are back HOA fees and penalties of over $7000. And a title search showed
Read more…I'm a buyer thats been working on a short sale since the beginning of August. The property went up in the beginning of June, we submitted an offer but lost it to another buyer. That buyer fell through after verbal short sale price approval from the 1
Read more…I'm at wits end. I'm about to lose a buyer. I have been working on a Chase ss since May and fought a nasty BPO and finally got a re-order. SECOND bpo was right in line with our offer -- dead ON to be exact for a 30 day value. Short sale got denie
Read more…I submitted a ratified contract and short sale package to Bank of America (not through equator because it is an FHA short sale). The file seemed to be going fine as I was waiting for a negotiator to be assigned and then yesterday out of nowhere they
Read more…Just signed up today and I do have a question....I have a client that is interested in conducting a "short sale" on his property...lender is Suntrust, and howmeowner did obtain a Loan Modification approximately 18 - 20 months ago and shaved around $8
Read more…Does anyone have the correct Greentree Servicing number to fax the agent's Authorization to Receive and Convey information. The loan was originally serviced by BofA and the property is located in Califronia?
I tried calling Greentree Servicing at 80
Read more…This point came up in my listing presentation this week. I don't show unrepresented buyers my short sale listing because of:
What's your take on this topic? Do you address it with your clients upfront?
Read more…I have been posting here throughout my short sale process. We have approval on our first but have to get an approval asap from gmac on the second. Our file has been with gmac for 12 days but we haven't gotten anywhere with them as of yet. I know we h
Read more…I have a client that I'm working with in which he has not missed any payments on his B of A loan. We actually had someone come to our office from B of A and one of the questions was whether the borrower had to be delinquent to successfully initiate
Read more…SELLER'S 1ST is w/ Bof A & will be paid full at COE. 2nd HELOC w/ CHASE will be paid short , likely only $20,000+ on a $360K heloc. How is CHASE handling the Tax liability(1099) & will Chase pursue deficiency judgement on Seller( owner-occupied).Any
Read more…I agree with the BPOs, most of the banks that send agents to do BPOs are unexperienced on the local area's. I have a listing that it's been sitting there and not even a fly stops to smell or look into the property, it's so over priced. I ha
Read more…
I think I've seen it all. The AZ co-listing agent is either dishonest, incompetent or both?? We made it all the way into escrow before he tells his other co-listing agent the seller never qualified for the short sale.
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