Hello All:
Got Wells Fargo to approve the 1st and has conttributed 10% to the second lien holder.
I have a 2nd with a Federal Credit Union (golden 1). My sellers are willing to contribute cash to close the deal. I am negotiating the 10,000.00 t
Read more…I have been trying to work PNC bank with my short sale for almost 1 yr now.. It has been very frustrating dealing with them. I have now lost 2 buyers, qualified for HAFA, which they will not accept nor will they give a sale date on my mortgage. I hav
Read more…As an agent that has never done a short sale I am woefully unaware of how this process should go. Until today.
My very interested and patient buyer submitted an offer many weeks ago. The listing agent said, "I have submitted to the bank and I will
Read more…I recently had the fun of negotiating with Compass Bank as the 2nd Lien Holder who fairly quickly informed me they had an acceptance of our offer! When I received the acceptance letter, it was actually and acceptance of what Compass would like to ha
Read more…Hi All,
Before I go and reinvent the wheel I was wondering if anyone has a good Short Sale Flow Chart graphic they would share? I thought that having a picture of what happens and when would be easier for sellers and buyers to understand.
Thanks
Read more…Hey guys. I'm looking for investor guidelines for USDA Ginnie Mae short. Specifically how much is allowed to go to the 2nd. Got anything?
Read more…Does anyone have any suggestions or especially inspiring stories (to give me HOPE) of getting a sale postponed (2nd time, however 1st time was automatic, we did not ask for it)
Long story short, we got approval May 10th, supposed to close by May 2
Read more…Is anyone using a title company for their negotiations? If so, how has the process been? Ant particular good/bad ones you recommend?
Thanks!
Read more…There is a growing number of short sale possibilities. This is not a revelation to anyone actively involved in the real estate industry. I have had a series of buyer side short sale transactions that have gone through fairly smooth.
However I w
Read more…We will be expecting our FHA appraiser to look at the short sale home we are in contract to purchase. What can we expect them to be the most strict on? We need to have the appraisal as high as possible but the house hasnt been occupied for over a y
Read more…Hey everyone. So quick update so you know the situation. 1 loan with PNC. Submitted my package on 4/18 had full approval on 5/23. Not bad.
So buyers appraisal comes in 2k lower. We go back do a new hud and wait for new approval. Sellers call and say
Read more…Once a property has closed, is the HUD form from the transaction recorded anywhere or is it only available in the settlement agency files?
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I would like to post the following question but I am new to this site so I am not sure which blog is the correct one to use. Please help! Thanks!
I am currently very near closing on a 3-loan short sale on my home in North Carolina. I have a buyer a
Read more…I have been so fixated on residential property, I have never given this much thought. But, is it possible to do a short sale on commerical property?
There is an old house built in 1892 and completely restored/remodeled that had been rezoned at some t
Read more…Greetings, My question is this, I represent the buyer on a short sale. The seller got a conditonal approval as the subject and further into the body it states this is not an approval. I'm Just not sure what I shouild do . I start the inspections
Read more…I have had a Short Sale listing since end 04/11. Before my involvement, BoA initiated a Short Sale in Equator.com for same loan #. After multiple letters, calls and emails to Short Sale Dept / Customer service, BoA has yet to delete the active Short
Read more…Anyone know why our offer would be approved so quickly with the sellers 1st loan through BOA and it's taking twice as long with the second. I know they want to get as much as possible but didn't think this would hold up the sale. The 1st department
Read more…(DON'T KILL THE MESSENGER....)
From the FTC MARS Rule to the SAFE ACT, who can actually negotiate short sales anymore? According to the Arizona Department of Financial Institutions, a Realtor CANNOT NEGOTIATE a short sale without being licensed AN
Read more…Hi,
We have an offer in with Litton that was countered so the buyers came up $20k. They need to close if possible by June 30th but the negotiator is not returning our emails or calling us back. Does anyone know numbers of a supervisor so we can get
Read more…The homeowner has passed away and his daughter is currently living in the home. There was no power of attorney assigned to the estate so it is currently in Probate. Is there any way to save this property with a short sale or is it dead in the water a
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