Buyer Agent Help
Is there nothing a buyer agent can do to check on the status of an Aurora Short Sale Offer? Listing agent says, "no word no word" but I want to follow up some how.
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If seller signs promissory note, can they still be issued a deficiency judgement?
If seller signs prom note, does that modify the mortgage and release them from future deficiency amounts?
Read more…Need a contact at US Bank
I have a file where US Bank is the 2nd. They are being extremely unreasonable as usual. The transaction provides $9000 at closing of the $30,000 loan amount and seller is willing to sign a prom note for the difference. Loss Mit will not even respon
Read more…CIG - Investor - Any Dealings
Hello - Anyone dealt with CIG as secondary market investor? What was your experience, how did you contact them, etc? I am contacting investor on BOFA short sale loan. They have not responded to BOFA.
Read more…HOA - difficult obstacle
We have bank approval. We have 22 days to close. Bank agreed to pay $5,000 toward delinquent HOA Dues. (that is more then 1 years of fees - if it were to foreclose)
Anyone have a sample letter you provide to HAO Board members encouraging them to
Read more…HELP!!!!!!!!!!!
Hi. My name is Bibi. I am trying to find out who I can contact to help me with my situation. I have been in the process of purchasing a home. I never knew this would turn into a nightmare. My husband passed away in June, so its been very hard to
Read more…Must read for anyone who has ever worked with Bank of America on a short sale...
"Dear Patty,
At Bank of America we are continuously looking to improve our short sale process. You recently worked with us on a short sale transaction for the property located at 2880 Begonia Way, Cooper City, FL, 33026. Please take a moment to provid
Credit Union, as a 2nd lien holder demanding non-refundable earnest money forfeited to the CU
This is a HAFA short sale and I'm the buyer agent.
The 2nd lien holder, an AZ credit union sent a form demanding that the buyer and the buyers agent sign "agreeing" to the buyer depositing a non-refundable earnest money deposit to be forfeited to the
Read more…Wells Fargo is 2nd TD and will get $100,000 or nothing!!
I have a strange situation in that my ss clients have a first with Central Mortgage with $175,000 owed on their loan. They are foreclosing for non-payment.
The second and third are with WF for appx $180,000. The home is worth $325,000-ish, and WF i
Read more…B of A - Short Sale - Letter of Forgiveness
I am the seller with a Short Sale (FHA) involving B of A. I had been instructed to request a "Letter of Forgiveness" from B of A with regards to the deficiency amount. I finally got a reply from my latest request which stated: "HUD doesn’t send ou
Read more…FLAGSTAR-SELLER NOT DELINQUENT ON PAYMENTS
Has anyone successfully done a short sale with Flagstar where the seller was not delinquent on payments? My seller was told she HAS to be delinquent or they will not approve. They told her if she is not delinquent then that just shows she can afford
Read more…US Bank as 2nd lien holder wants to transfer lien to other Real Estate
I have a short sale transaction involving US Bank as 2nd lien holder holding a note for $30,000. They have been offered $5,000 at closing. However, they are insisting that borrower agree to have the balance of loan, $25,000, transferred as a lien to
Read more…Suntrust requiring undisclosed fee BEFORE closing (scheduled Friday 1/14)-PLEASE HELP
Hello everyone - I discovered this site over the past couple weeks and have read a lot of good information. I am hoping someone can help me out with my current short sale situation
Here's the somewhat short version of the process to this point:
I
Read more…Life on MARS - Our Interpretation and Actions
Hi Guys,
Here is a link to my take on the MARS Rule as it relates to our company - one that assists agents and sellers in the orchestration of short sales. It's through a more conservative lens than I usually view these sorts of things; but as I co
Read more…New here: Please - could I get some advice?
I truly need to know if anyone would be comfortable representing both sides of a short sale. I thought that putting a request on here might be a good way to get a response from a wide variety of people, but at this point, no one has been willing to
Read more…New to Equator - Buyer's SS # & Birthday
First time using equator. We are representing the Seller in this transaction & we are currently in the "Document Collection" process. On the "Submit new offer" page, part of the required information is the buyer's first 5 digits of their social se
Read more…MARS. New Disclosures for Florida Realtors doing Short Sales
We will have 3 more disclosures on every Short Sale listing. One at beginning when sellers is signing listing agreement, other when the short sale is approved by lender, and the last one when Lender send additional materials in faact with the Short S
Read more…logistical issues - sellers don't live in same state
I have a new sale coming up. It's a father and son who live on opposite sides of the states. The father doesn't have email, so the son agreed to collect all the paperwork and hard copy mail to Dad. Do we need TWO sets of bank statements from each
Read more…Short Sale Issues.
The situation is I own a rental property, that has a 1st on it for $200,000 and a second TD to my bank, as collateral for a loan (balance of loan is $350,000).
My question is, that If I decided to sell the property for $250,000, and the actual FMV
Read more…SunTrust
Hi everyone -have never used this site before. I am in need of a contact at SunTrust to help figure out where an REO property is in their pipeline. The house was foreclosed over a year ago and it sits empty, not listed, etc. I have called the LM,
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