Hello - I have a lien/judgment and the attorney is asking us to reduce our commission to payoff the lien. I am looking for the HAFA regulations that gives 6% commission with no concessions. I have searched and could not find a copy of the regulation
Read more…I listed property at $42k and got an offer in 3 days for $40,100, which is based on comps both myself and buyer agent researched. I sent letter with comps with offer based through Equator for their review. Appraiser came back with $50k value and BoA
Read more…My client took out a HELOC from Wachovia that is now owned by Wells Fargo. The First TD is foreclosing. Auction date is next month.
I cannot find a Wells decision maker to accept a short payoff without going through the usual paperwork of Offer, Fina
Read more…Has anyone had experience negotiating a Citi second mortgage when Ocwen has the first? If so, what was your experience and how did you navigate through the process?
Read more…I am working on a short sale that a Title1 insured by HUD 24 C.F.R. 201.(2) (e). One of the requirements is to have the borrower acknowledge that any release will not release them from the remaining obligation due on the loan.
The loan is with Admira
Read more…The first mortgage is Freddie mac and they gave 6K to the second one and for 2 months they keep telling me that is pending investor approval?? Its driving me crazy !!!
Read more…I have a seller with 3 liens. The sales price will cover the 1st and 2nd lien. The third lien would be short. Should I do a short sale including all 3 liens? Am I able to do a short sale just on the 3rd lien? Please help. I've done over a 100 short s
Read more…I have a short sale with M&T bank that is backed by sony mae I am being told they only pay 5% commission does anyone know different.
Read more…Greetings Superstars!
I was told that the laws have changed on the "NET SALE PROCEEDS" and what they encompass and include. It has been my experience with all other of my FHA Short Sales that the "Net Sales Proceeds" is the actual purchase price tha
Read more…Someone asked me this question and I'm not sure I know the answer: If a broker needs to short sale his/her property, can they be represented by an agent from their brokerage, with regards to the arms length affidavit? I'm assuming all relationships w
Read more…Trying to close a Fannie Mae REO with an FHA loan . The buyers lender insist on having the ammendetory clause fully executed but Fannie Mae says they are except .
Who is right
The property appraised over the value anyway so to me its inconseque
Read more…This isn't necessarily a short sale question. However, I see a very suspect line item on my seller's HUD1.
It's a "Lender Promotional Credit" and when financing fees are added up with this credit, it conveniently equals EXACTLY our maximum concessio
Read more…When I first started processing short sale files, there was a problem. It was too cumbersom and there was no fluidity. Sure there is Equator but that is just a tool. I needed a system, a short sale processing ecosystem. Now I have it and my short
Read more…Hello! Does anyone have some good contact info for management with Chase loss mitigation? Email? Phone? Fax? Anything would help.
I need to reach someone high enough up that can make things happen.
Thanks in advance!
Read more…Can Anyone Confirm The Maximun HAFA Shortsale Payoff to a Junior Lien Holder is $12,000? If so, can you provide any document that proves it? Thanks
Read more…I checked the bank info and didn't see Nationwide mortgage listed. Has anyone had any transactions with them and were they successful?
Read more…Just received a Green tree approval and they keep referring me back to the FANNIE GUIDELINES which are a bit confusing to me .
My first question is a credit card that went into a judgement and thus a lien on the property fall under the Junior lien
Read more…I have a potential listing where the mother of a borrower is inquiring about a short sale. The property needs work and is vacant and the mother is the only heir per the probate filings.
The mother is asking me if there is any incentive to her going
Read more…HELLO everyone,
Does anybody have a contact at Carrington Bank??? they are refusing to review a file we submitted because we are not within their 37 day prior to foreclosure rule, and per FHA if there is a signed contract they should review it so I
Read more…Has anyone come up against this. On June 10th I received short sale approval from B of A with a July 28th COE. Yesterday July 2nd I received a message thru Equator stating that the loan would be service released on 7/7 to SPS. Will SPS honor my appro
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