Are Equity Lines Considered a 2nd Mortgage
I heard different opinions on this. What are your thoughts?
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Short Sale with USAA and GMAC servicer
Hello,
I am a buyer of a short sale in Chesapeake, VA. On January 18th I gave a full price offer on the home, which has 2 liens, both with USAA but with GMAC as the servicer on the second. The listing agent has direct numbers to contacts at the b
Read more…In Search of Short Sale FAQs
Hello All,
For the last year or so, I've been presenting to realtor associations, brokerages, pools of independent agents, etc. on the 5 most frequently asked questions by short sellers. The goal of the presentation and the content we've repurposed
Read more…lender standard pratices and short sales
Hello all,
I am in Palm Beach County Florida, Boynton Beach to be exact. I would like to get some feed back from as many as short sale superstars as willing to give. Here is my question:
Does anyone know where we can find what is typical for an
Read more…Chase/Saxon short sale scenario = Catch 22!
I am looking for ideas!
I have a very strong cash offer on a short sale with approval from Chase (first lien holder) granting Saxon $1400 less than Saxon requires for their approval. Chase will not allow Saxon to receive this in any form (buyer, s
Read more…Midland Mortgage - Does anyone have their packet?
I'm meeting with some homeowners today who said Midland isn't that easy to work with. I guess they tried to get a lawyer to work with them and Midland wouldn't accept the written authorization. They want it on their forms. Does anyone have the Mid
Read more…What to Do when IndyMac Assigns a Loan to Deutsche Bank?
We've been working on getting a 2nd offer approved by IndyMac. The 2nd BPO was done December 1st. The IndyMac negotiator (Jennifer Bowman) is not responding to inquiries.
I just found out that the Loan was assigned to Deutsche Bank a couple of months
Read more…Wachovia Extension ---- Contact for Upper Managemen -- Someone who sees the big picture? HELP???!?!
Anyone have a high level contact at Wachovia?
Someone who can see the big picture and understands the lending timelines and HVCC rules?
As of today I FINALLY have approval letters from the 1st (Wachovia) and the 2nd (WAMU/Tate and Kirlin) with
Read more…Anyone have names of Management at Provident Funding?
I have a beautiful approval from Provident Funding from October, requiring NO note and NO deficiency. Approval expired in November and we're still awaiting answer from 2nd. Since then, my seller has experienced a documented cut in pay A
Read more…Pinnacle Bank -
Hello Everyone,
Has anyone worked with this Lender before that can share some insight. I have a commercial client that has advised me of the following. He was late two months, he went to make the payments, and was advised that the loan had been s
Read more…BofA/Equator 3rd Party Auth Review, Sale Date! Help!
Hi Short Sale Agents,
I'm feeling stuck with Equator. Their is a sale date for Monday February 14th (Happy Valentines Day, not!)
I have an offer and I've uploaded the 3rd Party Authorization. They have 48 hours to review, and that could be too late
Read more…BAC Field Services
We are set to close on our home in CA in 4 days. I drive by my new home to find a large 'BAC Field Services' property management sign taped to the garage door. I contacted my agent (dual representing) and she said that this will continue until BAC
Read more…FINALLY!!! We received SunTrust's Acceptance Letter!
It seemed like forever, almost 7 months to the day, but we just received the offical ss acceptance letter. I have a question though regarding our March mortgage payment:
We are scheduled to move out on Saturday, March 13th and we’re going to closi
Read more…SunTrust Not Allowing A Flip
I have a question for all. We have been negotiating a short sale with Sun trust for over 10 months. We had previous approval at 1.125M, house originaly sold for 2.2M, Market fell so hard we went back to renegotiate and new BPO & appraisal both coming
Read more…SHORT SALE APPROVED NOW MY SELLER DOESN'T WANT TO MOVE
I got the short sale approved within 2 months.. I really didn't think it would be that quick but now my seller doesn't want to move. The bank has given us one month and she feels thats too much of a short notice. Now, All I could do is wait it out.
Read more…US BANK-HELP
I have a US Bank 1st and 2nd. The 1st has been fine to deal with. The 2nd initially told me to figure in 5k when i received an offer for them. When i submitted the offer to the 2nd, they are now telling me now that they will not review my offer
Read more…Short Sale for the Buyer???
As a service to our mortgage applicants (the Buyers), we are considering offering to assist them and the seller if they decide to purchase a Short Sale property. Naturally, the service would be voluntary, and only if the Seller is agreeable. There
Read more…AmTrust
Currently working on a Second Lien with Amtrust. They have been extremly disorganized and not at all helpful when calling for a status update. We have an approval for the 1st but the approval is only good for another 15 days. Does anyone have any
Read more…BOA: HAFA Short Sale Declined due to Auction Date
Hello everyones,
I have a HAFA short sale file with Bofa. When I called short sale customer care, Rep told me that seller HAFA Short sale is denied due to the Auction date.
He has offer on the property. Awaiting for Evaluation. The auction dat
Read more…Greentree Has your seller not kept current
Greentree is the 2nd and has advised my client that if they do not keep current or no more than 30 days late they will not approve the short sale. My client isn't really in a spot to cover the $1500 payment every month and is in a true hardship... Ha
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