I have had two clients ask me about this in the past wk. My fear is that the banks are simply trying to gain control of the property and leave the liability to the owners. My greatest fear is that if the owner signs the agreement, when will the mortg
Read more…We have several transactions recently where the 1st mortgage says, "we will only give $3,000 to the 2nd." The 2nd turns around and says, if we don't get $10,000, we will close the file and get foreclosed off and seek a deficiency. We closed one a cou
Read more…Are there any realtors that have done a short sale option offer or have been approached by an investor that is interested in this sort of transaction? Meaning an investor who puts an option agreement on the property and then finds a third party buyer
Read more…Main - ( 877) 768-2265 Asset Recovery - (800) 938-6600 Loss Mit - (888) 656-8101 Email SS Pkg to lostmiti@sovereign.com Fax SS Pkg to (800) 881-9334 Put on cover sheet "Short Sale Request" Sovereign operates out of Madrid Spain and has only two nego
Read more…I've been wondering if there are any agents here who have been marketing through social media platforms, I'd like to see if anyone have some solid successful short sale marketing plans to reach potential short sale sellers? Have anyone tried to orga
Read more…Does anyone know any investors that would buy at a discount and do a lease option to a Buyer for repurchase at market value within 24 months? I keep coming accross opportunities to buy below market and often have Buyers that are almost ready to buy..
Read more…At my short sale closing last week at the 11th hour we found out that the condo associated billed the homeowner approx. $300 for the association's attorney to review the lis pendens that had been filed due to the foreclosure. Of course condo associat
Read more…I got a few more short sales approved: Tyndall Federal Credit Union: Original Mortgage Amount : $175,000 Sale Price: $85,000 Commission as per PMI: 5% 3 weeks for approval AHMSI: Original Mortgage Amount: $235,000 Contract price: $115,000 Commission
Read more…This work is mountainous. The wait is unknown. But I cannot help but to share that I LOVE WORKING on SHORT SALES - especially for my seller clients. I find my significance and value when I know I'm doing my best to help them out of their each indivi
Read more…Hello everyone, Just read the link regarding Sun Trust. Thanks for sharing the e-mail for the VP. Does anyone have a good contact for Bank of America to get things moving. Like the VP of loss mitigation or higher. Thanks
Read more…Recently received an "educational" offer from a real estate guru. It was on marketing to those in bankruptcy that have a foreclosure in process. In listening to a webinar I gleaned from them some interesting thoughts. Bankruptcy merely stalls the fo
Read more…New Fannie Mae guidelines state a borrower who has done a "Short Sale" must only wait two years to re-establishing credit and be able to get a mortgage again. Deed-in-Lieu of Foreclosure: 4-year time period from completion date (date deed-in-lieu ex
Read more…Anyone have any SS experience with them, or thoughts on my issue.......... Owner delinquent 9 months. No foreclosure started yet. Great Cash offer from a buyer. No 2nd mrtg. Owner willing to do anything. Harris says drop the listing price, and offer
Read more…Many of you may know me from ActiveRain as an REO Listing Agent - well I just took my first Short Sale Listing in over 2 years (I did over a dozen in early 2007). I am looking for any helpful information for HSBC - my seller has both a 1st and a 2nd
Read more…I have heard, but not confirmed, that the success rate and commission level with an attorney negotiated short sale is much higher. I have also heard that the bank will typically pay attorney's fees. That sounds wonderful, but has anyone ever experien
Read more…Has anybody noticed the increased activity with lenders the last couple of weeks? I have files that have been sitting for months that are finally getting ready to be approved. The frustrating part of course is that after 6 months of nothing they sen
Read more…I just got off the phone with a Citi mortgage negotiator again. Citimortgage is the 2nd on this short sale- They are demanding 14K at closing and sellers sign promissory note for 20K with zero interest. I informed them the 1st will only allow 10K at
Read more…My husband and I are in the process of purchasing a short sale being serviced by BOA. This has been a long…..process. When my husband and I found this home on Georgia MLS site for $209,900.00 it stated it was an Short Sale verbal approval, and we are
Read more…All of us on this site need to band together and fashion an email letter to the Board of Directors and the CEO of Bank Of America to let them know what is really happening with short sales and their company. I did this about a year ago and sent it to
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