I received a HAFA approval and it has language for arms length transaction...I represent the seller.
The buyer is the seller's daughters mother in law...is this a problem?
Thanks from Pismo Beach.
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Just worked 5 months on a GMAC short sale just to be told that effective Feb 1, our file had been transferred to Green Tree Servicing. I called the 800 # that was given to us and keep get a looped recording. I cannot get through to a live person.
Read more…Situation:
Property Listed since 09/18/2012 at $280K and since dropped to $260K, I had 4 buyers with 3 mutuals, first 2 was offer at $255K w/ 3% cc and $250K w/3% cc, respectively, both lost financing. The second buyer was counter by Wells at $27490
Read more…Hi: 1. Broker Bryant posted an addendum sent to the buyer, before the sellers acceptance of the contract. I can't seem to find it anywhere. Can someone help?
2. Someone presented a cash offer on one of my listings? With the option to use privat
Read more…Hello,
We have been negotiating a Short Sale that had originally both mortgages with Homeward Residential. Now, the 2nd was transferred to Real Time Resolutions, Inc.
Homeward approved the Short Sale and only pays 10% of the principal balance to the
Read more…Hi Guys,
Our team has been working on some strategic planning and we were surprised to find a lot of the short sale listings in our area that demanded that the buyer would be responsible for a short sale negotiation fee , attorney fee for the seller'
Read more…I have a situation where the second mtg/HELOC will NOT approve the short sale stating the first mtg MUST approve first.
Then the 1st mtg is stating the second mtg/HELOC MUST approve short sale first per HAFA guidelines.
I have searched everything I c
Read more…For quite some time now I selectively recording telephone conversations with Servicers / Lenders. In CA, we must notify of recording. I notify in writing directly on the 3rd Party Authorization so it's there for them to see.
Attached are two copies
Read more…I am buying a BOA FHA short sale.
Under contract in July.
Approved on Dec 19. BOA gave us 5 days to settle. There was no way my lender could get me to settle that quickly. We filed an extension.
Jan 29, my lender was ready with funds ready to be
Read more…I have a client who has a Federal tax lien from 09 on his home. The lien is for $15,000, has a first of $205,000 and equity line of $43,000 on a home who's market value is $135,000 in Phoenix AZ. Has any one seen the IRS work with a seller to subo
Read more…Just received this from BOA: Please be aware, the lien on this property is scheduled for sale to a new Investor (non Bank of America) on 1/31/2013. This Sale will need to be closed by 1/29/2013 as we need to review and approve the Closing Docs, and r
Read more…Yes, we have been experiencing the same fixed pricing attempts by FM as well here is N. Florida. Its very disheartening to a seller who has a legit hardship and is cooperative in the short sale trying to do the right thing.
Read more…I had to write about this-- maybe because of freedom of speech or just to see if anyone else finds this to be strange. I have been working on a HAFA short sale with Pennymac as the 1st loan. Pennymac offices are apparently local to my area. Long stor
Read more…Can seller sign acceptance on more than one offer? Bank tells me to have seller sign all offers before submitting to them for review. I'm not sure that's a good idea for my seller.
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Short sale with 3 mtgs. 1st: Fannie Mae; 2nd: GMAC; 3rd: GreenTree. Have all approvals. 1st and 2nd waive deficiency. 3rd states that the Seller is to continue payments after closing. We WERE to close today at 3pmEST. The 1st wants an updated
Read more…Does anyone out there have an e-mail address or direct line/extension for someone in a higher position than the "negotiator" I'm currently dealing with? Here's a brief description of what's going on:
I just got off the phone with a homeowner who told me it's too late to go the route of a short sale as he has already filed for Chapter 7 BK. Not knowing what to say, I said "Oh, okay ... I guess that's that" (or something like that) and we ended th
Read more…I have an problem.... I am workng on a VA compromise (short sale) sale. The home has 1st VA Mortgage with Chase and a home equity with sovereign. As I understand, VA wont do a compromise sale with a 2nd lien. I spoke with sovereign - they wont releas
Read more…In Florida, if you are charging a negotiator fee the one charging it has to be an attorney or a licensed loan originator. Check on the office of financial site for the State of Florida. However, there is nothing keeping a buyer from paying a commissi
Read more…Hi Everyone -
Please help keep our resources up-to-date. If you are aware of new short sale lender phone numbers, faxes, forms, websites, procedures, let us know. If you find a number no longer works or a form is out of date, let us know. Just putti
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