I am trying to buy a short sale property. My offer has been approved in equator, but have not received approval letter from the investors? I found a public record - assignment of mortgage to bac/countrywide. Does this mean the property is heading t
Read more…What is the matter with Chase. My seller is on unemployment and her husband is on social security disability. I am thinking this is a no brainer as far as income verification goes. Disability letter & unemployment letter. Then why would Chase INSIS
Read more…I hope this will be the right forum to ask these questions as I can't find a good forum with as much info with SS and Equator knowledge. Let me start at where this house has been. The house was put on the market as a Short Sale January 28, 2010. He
Read more…I am in CA, my client wants to file for bankruptcy, not sure what to advise him.He would like to stay in the home for another 4 months and has filed for bankruptcy. Should I take the listing? Looking for some advice. Thnak you
Read more…Wells Fargo denied my file because the borrower wasn't delinquent yet - they missed their first payment 17 days ago. The negotiator wouldn't tell me who the investor is (but it appears to be BofA) or how late the borrower has to be to be considered
Read more…Citi Mortgage - Radian Insurance - the MI company now, Chase - Republic Insurance - the MI company, called the borrowers and questioned them on their short sale process. Asked them every question ... what was the hardship, what was the list price, (c
Read more…Hello everyone! I'm new to short sale superstars and I'm looking forward to sharing as many ideas and helpful feedback to all my fellow Short Sale Agents across the nation!
I've got a question to start: why does Key Bank wait until approval from t
Read more…HOW does one find out who an MI company is on a loan?
I have a one lien property with BofA - finally got the price part worked out and then MI came back wanting a crazy amount from the sellers. First $16,500 in cash - then 5K in cash and a 12K prom
Read more…Hello All. I have a short sale(Illinois) and TCF is the junior lien and is offering to approve if the Seller agrees to $5100 plus applying for financing as a 3rd lien on the Seller's home in Michigan. Anyone experience similar or have any advise on
Read more…Just spoke with a Bank of America negotiator today who's in Delaware. She says many changes are coming, one of them, no more BPOs or appraisals....they are moving into using AVA or AVM (like Zillow). Can you imagine how that will screw things up> n
Read more…Does anybody have a good contact person for the B of A escrow impound account department? This is a Freddie Mac owned loan. Thanks.
Read more…Presently in a short sale nightmare. we were backup offer and bank counteroffered to the first and they withdrew their offer. Subsequently, our contract was supposedly submitted to bank by seller's attorney. We thought this would be a relatively pa
Read more…I have friends that wants to bring the loan current on their home and avoid Foreclosure but the bank is refusing to accept their payments. Is the bank under no obligation to let the borrower save there home from foreclosure if their financial situat
Read more…Hi Folks -
This is a link to a radio interview with Bill Black about the disaster that we have all been facing with Foreclosures, Short Sales, etc.
Although this is a long (1 hour) program, it's very good into and an interesting look inside the
Read more…Hi, Has anyone run into any issues either getting an approval, or getting a commission paid as a buyer's agent representing themselves as principal in the purchase of a short sale?
Read more…An investor making an offer on a Fannie Mae property, the listing agent has requested that a 13 or so page addendum be filled out by the buyer/investor to come with the offer before presenting it, is this correct? and since he is an investor, Fannie
Read more…Dear fellow short sale specialists,
Has anyone ever seen problems with a broker receiving commissions when they are also the buyer?
Thank you, Paul
Read more…Please SS Superstars I really need your help. I am so upset right now, b of a$$ holes have just done it again. I have been trying to sell a home for 2 years due to overpriced values, closed files,etc. We finally go approval on March 22 close by May 6
Read more…Does anyone have a good contact in Loss Mitigation at EMC? Our negotiator is refusing to extend an approval letter beyond the 30 days (today is the deadline) it was good for. We ran into a few unforseen events with repairs and a really bad underwrite
Read more…
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