My seller has a FHA loan for an investment property. FHA guidelines are that the borrower is required to live in the property within the last 18 months to qualify for a short sale. Borrower never lived in the property.. property was always a rental.
Read more…Webinar Title: |
Revisions to FHA's Loss Mitigation Home Disposition Options |
Date/Time: |
Wednesday, November 13, 2013 2:00 PM - 4:00 PM EST |
Event Location: |
On-line Webinar – No Fee |
Registration Link: |
Hello Guys and Gals!
I have a Fannie Mae investor short sale that they countered back 15% over offer/value. Of course I escalated the file right to FM. I have requested a copy (on behalf of the borrower/seller's - signed and dated by borrower) of the
Read more…How much does BOA pay towards a 2nd lien in a cooperative short sale?? In the beginning the Servicer Rep from AMS told us $8500 now the Negotiator is saying they will only pay 8% of the principal balance.
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Good morning Superstars,
In the world of digital devices there are still old-school methods of marketing that “just work”. Most real estate agents shy away from direct mail, but if you knew what you were doing, they’d be knocking down their Copywri
Read more…We have a client in the Pensacola, FL area and are seeking a local agent to refer the listing to. We are to get 25% and the local agent to get 75%. We handle all the negotiations with the short sale lender and will handle everything with the home o
Read more…I have Nationstar demanding a 401K statement from my borrowers on an investment property they're Short Selling. I understand that Borrower is not obligated to furnish this statement. Has anyone had a similar experience where borrower has refused to f
Read more…Could January 1st, 2014 really be the end of it? Anyone have any insight? I looked on the status of the bill and it says only a 1% chance of getting passed. This is unsettling. Thoughts/comments/ect.
Read more…Auction.com, formerly known as REDC (or so I am told by a title expert I work with) does not appear to be doing business ethically. As a listing agent, we are not supposed to pass the cost of business onto a buyer. So how is Auction.com forcing sel
Read more…It looks like the seller rented his home out after the short sale had already been started. The rent is about 300-400 to low a month. Does the new buyer have to honor this lease?
Read more…Has any body done a short sale with a Prop. Management Co. in the middle of the transaction.
The Prop. Management lease expires on 9.23.11. Tenant Occupied. Seller motivated to Short sale.
Prop. Management has their own lease with tenants.
If we d
Read more…Good morning Superstars.
Today I want to talk a little bit about Credit Restoration. As many of you may know TLW and I went through a very difficult time from 2008-2010. We ended up having to do Short Sales on two of our rental properties. This teame
Read more…I will truly appreciate any help that I can receive from people that have found effectiveness on farming letters that target homeowners in default. I have been sending some letters but I haven't get a return on it and I believe that my content it's n
Read more…Nationstar has given me an approval verbally (via equator). They requested an updated HUD AND second bank approval. The second bank will not give an approval based on an offer that the first has not approved. I'm at a standoff. How can I escalate
Read more…Hello everyone Im in a process of buying a short sale house. The mortgage holder id Chase. The property has been on the market for over a year and is vacant. It started in June of 2013 when I put in an offer $167k and Chase approved it. But the selle
Read more…Hi everyone!! I am hearing rumors that starting January 2014 the rules on short sales will be changing and the lenders will be requiring a repayment of the forgiven amount. If that is the case then the short sale as we know it would pretty much be go
Read more…HELLO TO EVERYONE.
LOOKING FOR ANY ADVISE ON THE FOLLOWING-
CURRENTLY INVOLVED IN SHORT SALE IN NEW YORK WITH OCWEN - HAVING DIFFICULTY WITH NEGOTIATIONS -
APPRAISAL CAME IN AT $ 750K
2 INDEPENDENT CONTRACTORS ESTIMATES AT APP$350K
STRUCTURAL ENGINE
Read more…HAFA to 2nd lien - looking for guideline - thought it was 10% up to $8500. BofA 2nd is insisting on full $8500 when payoff is approx $30K and we have $3K approved. Closing supposed to be today. Service release on Friday. Please help!!! Need a link t
Read more…Okay guys and gals I need names, ranks, and serial numbers for anyone I can talk to at Chevron Federal Credit Union regarding my short sale. Now at the last minute they want to cut my commission. So I need to escalate this situation, but I have never
Read more…Recently I have been working on several FHA short sales with different lenders (BofA, Wells Fargo, Chase and Citi). After a lengthy review of the short sale paperwork they are demanding that the house be listed but not providing an Approval to Parti
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