I am a buyer recently involved in short sale.
Owner has 2 liens, both with 1 major bank.
The listing agent told us the owner is just short selling the 2nd lien. She just told us this but for the past 3 months led us to believe there were 2 liens be
Read more…I just got off of the phone with Freddie Mac, only to find that my assigned account manager has been moved to a new division due to "restructuring". Apparently a man named Bill whose last name is confidential, is handling all FHLMC short sale files.
Read more…Does anyone know the guidelines for a discharged Chapter 7 Bankruptcy?
FHA LOAN: Chase 1st, PNC HELOC
Does the seller have to provide all of the financial docs requested by bank? (bank statements, paystubs)
Seller's attorney told him he only needs to
Read more…Hi guys,
Wondering what your thoughts were on the short sale lease back program that is starting gain traction in the short sale arena.
Short sale lease back programs have been around for quite some time now. In an SSLB program, the homeowner short
Read more…Has anyone received a 6% seller's concession for closing costs approved? I am working on one now.
Read more…Hi everyone.
Does anyone have a good contact number for Franklin American Mortgage Loss Mitt?
I always get sent to customer service and they are no help at all...unless you enjoy sitting on hold for nothing :)
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Anyone else having issues with Equator yesterday and today with all the updates/changes being made? I have not been able to leave a message in EQ for 24 hours and can only login when using internet explorer, which I despise.
Read more…Has anyone seen a trial loan mod or a permanate loan mod approved to a homeowner with equity in his home? Do different lenders have different policies on this?
Read more…A prior client that did a short sale on his investment property received a 1099-C from the bank and his accountant says he owes $27,000 in taxes? How is this possible when they earned $40,000 last year, even with form 982? Can anyone recommend a go
Read more…hi all!
I have a sale that has a 1st w/BofA at 460,000, a 2nd that WAS BofA and is now Nationstar (just last week in the middle of my negotiations) and now the prelim comes out and voila, there's a judgement against the wife for $25k. The judgement
Read more…Hi everyone.
Anyone have good contact info for Franklin American Mortgage? Especially their Loss Mitt Dept?
I always end up talking to customer service and they are little help :(
I have never had such issues trying to talk to loss mitt!
Any input is
Read more…I listed a pre-approved short sale in NC had 4 shoings that day and a full price offer, (asking for $3000) in closing cost. This is a BOA loan, not a gov product. Just wondering if anyone has had success with the pre approved process. They told u
Read more…Sorry this might be long, but I wanted all the details here. Also I negotiate short sales and have dealt with some other shady/shyster negotiating "firms", so maybe my "hinky" radar is a little over sensitive. I am the buyer's agent Negotiator is th
Read more…Hi, I'm new to this site and apologize in advance if this question has been asked before.
I'm currently in a traditional short sale situation where the primary lender has approved a short sale and agreed to pay the junior lien holder half of what the
Any experience with the release of the VA Eligibility after a short sale with full release of deficiency? Need to verify whether or not VA will release in order to use VA eligibility in the future. Yes/no; timelines?
Thank you so much!
Read more…Client filed bankruptcy, Chapter 13. We obtained a Certified release from the Chapter 13 Trustee through the Bankruptcy Court. We are 6 months into the Short Sale and the client changed bankruptcy to Chapter 7. A new Trustee is handling the Chapter
Read more…I have been working this short sale for 6 months. BofA countered and the original cash buyer walked. I advised the negotiator that I had a new offer at the investor ask of $185k and he closed the file violating BofA's policy of submitting a backup w
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Good morning Superstars.
Will you be joining us for the Short Sale At Sea Symposium this year? We'd love to have you.
If you are going pop me an email to shortsalesuperstars@gmail.com
I am a seller with a Ginnie Mae VA loan with Wells Fargo as servicer. Do I need to be delinquent on mortgage payments to get approval for short sale? Also, Wells Fargo told me that Ginnie Mae is the investor for my loan and thus responsible for de
Read more…
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