New to this site, Please help...As the buyer's agent, we submitted the offer and the seller has accepted the offer and the listing agent had the put the offer through Equator System. And a Negotiator has been assigned. Does anyone know what the "re
Read more…Within 24 hours, two short sales have blown up because the MI companies refuse to approve the sales. Much negotiating had gone on prior to MI companies jumping into the fray. After numerous calls to other agents and attorneys in Northern Virginia to
Read more…My seller needs more time in their home. They have maybe a couple of months left if that. I need the name of a successful, communicative, compassionate short sale attorney in Broward County Florida. One who has a tried and true short sale record of s
Read more…Just received the approval letter from Wells Fargo for an FHA short sale, where they talk about the seller receving $1,000 incentive for prusuing a short sale as opposed to the foreclosure. It's refelcted on the HUD as seller credit, however, the sel
Read more…Usually when I think about a case like this I think... "Well, probably they didn't even explain the seller his other options to save his home".
Well, I assist the seller obtain his loan modification back in early 2010 (payment went from 2200 to 130
Read more…Hi all
I have a client inquiring on a HAFA short sale with B of A. They have a job offer in another state. Borrowers are current on their mortgage. This should have potential for HAFA though they are current-- job relocation information can be prov
Read more…Has anyone been denied approval by the bank in a tenant occupied property where the tenant has made an offer? The bank is saying this is not an "Arms Length" transaction. The property is managed by a brokerage. Is this in violation of Fair Housing R
Read more…Aloha,
This morning I received an approval for a short sale. Unfortunately the letter stated "The maximum FNMA will contribute to the HOA 6% or 6k of the balalance, whichever is less." Estimated HOA payments are $5518.65 and they took exactly 6% or
Read more…Currently on the buying end of a short where Chase is the first, and USB the second. Was in to USB about doing some investing and was told if I put my money there they could give me direct info on how the SS is going. Interesting. However, I then got
Read more…I have buyer who is interested in a B of A short sale. The listing agent about six months put the house on the market way below value at $175,000. and got three offers at 250,000.00 which is way to high. B of A accepted $250,000.00 but that buyer b
Read more…In California...I am getting more and more of these.
I have one trickier than normal......the wife is a survivor on the title, but not on the Bank Loan. The husband whom is deceased is the only one on it. My Probate lawyer friend said there is rea
Read more…Does anyone know if a bank will do a short sale on a property that has no first mortgage, but has 2 home equity loans that are both in arrears?
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Looking for feedback as this is the first of this kind I have run into.
1st & 2nd same servicer.
1st is Fannie owned.
3rd is another servicer and a HELOC
No PMI.
Based on current offer, the 1st would get full pay out, the 2nd would recoup about 5
Read more…I Just like to share this email from BoA.... Please note the Changes...
As Bank of America continues to enhance the short sale process, real estate agents will notice changes when initiating a transaction in Equator, beginning March 11.
What Is
Read more…Will you represent both sides of a short sale? Why or why not?
Read more…I am a first time home buyer and have placed a bid on a short sale. The lender on the sellers end is Bank of America, and I suppose they are accepting my offer, but I was asked if I would be willing pay $1000 for a 'letter of approval' because the s
Read more…I'm in New Jersey working on a short sale for a client who has a loan from the NY Municipal Credit Union. Has anyone had any dealings with them? I'm having problems!!
Read more…This thread is for those banks that we know for a fact will NOT accept Electronic or Stamped signatures on their documents. Please post the banks/lenders below & any other quirky requirements that you have discovered. I hope that this too can be a
Read more…On Thursday, March 10, C.A.R. is running an open letter in several newspapers statewide, addressing the numerous challenges associated with short sales.
The open letter addresses the following topics: The benefits of doing a short sale rather th
Read more…I am a short sale buyer 5 months in......and like many other stories out there, no word yet. Someone mentioned that if it was going to be rejected, it would have been by now. Guess I am just looking for others thoughts (experience) on this. I feel
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