My client filed BK 7 because of credit card liens. Now it is discharged. And we got a short sale approval from Chase. The creditors will not release the lien still because they said it was filed before the bankruptcy. I will appreciate your suggestio
Read more…So just a spin off from the great healthy debate "Are Attorney's Ruining Homeowners" I wanted to pose another topic and get opinions. The question that pops up everytime...."Will this cost me anything" or "I don't have to pay anything for this right?
Read more…I have been posting thru our short sale process, and actually was just told that the b of a negotiator stated we will have our approval letter within ten business days. I am in disbelief...does this mean the investor approved our short sale at the pr
Read more…Hoping for some insight on short sale in which one owner on title is not on the loan. Can the lender factor in the 2nd owner's income/assets? I'm trying to get owner 2 quitclaimed off title but they're resistant. Anyone know if the lender can fact
Read more…In a short sale where there is $30,000 deficiency on a Freddie backed Chase loan. How likely are they to pursue a deficiency? Has anyone had luck having Chase/Freddie put into writing they will not pursue a deficiency. We have no money to bring to cl
Read more…Just when I thought I had seen it all doing short sale negotiations, a new "hurdle" was thrown at me today by none other than B of A: I am working on a short sale, B of A first lien, GMAC second lien. Gmac is currently owed more than $45,000, inclus
Read more…Check it out. If you are in Florida you will like this a lot. I just called one of my sellers who was on the fence and told her to call BofA. They qualified her over the phone for $11,875 to do a short sale!!
The terms of the program are attached.
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I have a BOA 1st and 2nd short sale. 2nd released deficiency completely, and the 1st will release with a $10K cash contribution from the Seller. Seller is freaking out and says they don't have $10K but the bank can see they have 2 credit cards with
Read more…Does anyone have recent experience with them on a short sale? I am in the process of trying to purchase one. The owner has accepted our offer and now we are waiting. They do have MI. Here are some of the details. The owner owes approximately 400k and
Read more…Negotiator just told me that PNC will NOT put a full release in the approval letter period...anyone had any luck getting the release from them? My seller has to come in with 15k to make it work which is not going to happen if they are still holding t
Read more…Just found out the seller is backing out of paying the $3900 in delinquent fees to the HOA and we are signing docs tomorrow. I'm not paying for someone who is basically walking away from their responsibility in purchasing a home they couldn't afford
Read more…I am always interested in hearing the feedback (positive and negative) about the new "programs" the lenders are offering to homeowners.
The email most of us in Florida received yesterday regarding the "Florida Enhanced Short Sale Relocation Assistanc
Read more…Wow, I just got off of the phone with a "seller" who is feeling very confused and does not know where to turn.
From the beginning:
2004, preconstruction condo purchase as an investment, Husband on the note and deed, wife on neither
2008, Husband deede
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The bank will only pay 3% in closing cost. The buyer is not willing to contribute to help get this closed.
He had to raise his offer price to meet the bank on the approved price.
I have allready reduced my commission (which is not part of the closi
Read more…Come on, tell us something we did not already know. The fact that they employed Stern to process their foreclosures was enough for me. It would be really interesting to see the amount of money that gets passed in the night under the table to keep t
Read more…I have an "approved" short sale with BOA (first lienholder) for my seller 2nd lienholder - I also have a negotiated approval 3rd lienholder (USAA $144,000 balance-seller current) ) USAA refuses to play ball The seller offered to pay USAA the entire b
Read more…The attorney's office handling the shortsale for the seller, for the past 4 months, has now said they just found out that the USDA is the "investor" and we need their approval to move forward. But no one has a "Contact Name or Number" to even get wit
Read more…I was reviewing our pipeline, and I realized the majority of our closings were on back up offers. So many people don't want to look at homes that have an offer pending, but I wonder if that might be the wrong way to look at things. Is anyone else f
Read more…Has anyone actually received an approval letter stating the bank reserves the right to come after the brokers and agents?
Read more…We had an offer in for a short sale two weeks ago. The bank denied it and countered with a number they want. We submitted a new offer (still slightly less than what they wanted). They rejected that and INCREASED the amount they are asking for. Does t
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