Hello,
Is there any way to get the 2nd lienholder to waive the balance. What is that procedure? Guaranty bank says that it is their policy to have a promissory note signed at closing for the borrower to payback the balance in either a lump sum or ove
Read more…Has anyone had experience with WellsFargo Short Sale Approvals on the 2nd that there was a non-forgiveness of the debt where the homeowner is still liable to pay the balance back. Is this customary for WellsFargo seconds and has anyone been able to n
Read more…Hello all!
I'm actually a buyer in a short sale deal in the state of Michigan. The deal started off great as a standard short sale. We submitted an offer which was accepted by the owner. We understood that the house had 2 mortgages on it, a 1st with
Read more…The sellers have choose to have their attorney handle the shortsale. Going on six months now home has a 1st and 2nd with well. The first was approved 60 days ago and is now waiting a 3 extension. The 2nd was filed in the wrong county by the bank (no
Read more…Has anyone tried the Chris Sylvada "Simple listing systems or Simple Listing Solutions" website concept and had any success?
Read more…Has anyone done a short sale with First Bank?
I submitted a short sale package and the same day I received a denial letter. When I followed up with the negotiator on the short sale he advised me that the seller did not have a valid hardship. My selle
Read more…Hello All,
I just had BankerREO contact me for REO work. Ive been doing short sale exclusively for the past 5-6 years but figured why not diversify.
If you have any feedback please let me know. If I should check with another Forum that is specifica
Read more…I keep hearing several agents saying, "this is the END of short sales..." after the (2) big game changers: 1.) Robosigning settlement and 2.) Homeowners Bill of Rights.
Here's my take: until the market reaches 2006 prices AND the economy stabilizes,
Read more…In the recent past I have seen a disclosure form that was prepared by the listing agent and attached (requirement) to all offers. This form had the buyer place a larger than normal deposit that was non-refundable for 90 days, except for inspection r
Read more…The homeowner is current on the mortgage but want to do a short sale. Reason being due to crime and forclosures in neighborhood. Loan is a VA loan. They would like to purchase another home under VA. Would they still be able to do a short sale and als
Read more…My FHA Short Sale Negotiator with GMAC says that the Seller's Relocation Incentive will be applied toward the 2nd lien however, the Seller's Real Estate Attorney claims that it is not legal for GMAC to withhold the Seller's FHA Incentive. Does anyon
Read more…I have a short sale scenario that I've never had before:
1st with ING, 2nd with Chase but charged off to LCS -
ING wants approval from Chase/LCS before delaying sale date and issuing any approval
Chase/LCS infomed me this cannot happen and they requi
Read more…My husband and I after several months finally received word from our agent that BOA countered and we accepted. Here is the thing. Our realtor did not like the 3rd party person handling it so BOA decided not to have a moderator. It has been well ove
Read more…As a Realtor (and a CPA), I used to negotiate all my own short sales, and had an almost 100% success rate. About 2 years ago, I started using a 3rd party negotiator - a local law firm. My success rate has dropped significantly, in fact, lost 4 tran
Read more…My client owns a 2 family home which has served as his primary residence since he originally purchased the property. Until recently a tenant occupied the second unit. Five months after initially submitting a complete short sale package to MetLife,
Read more…DOES ANYONE KNOW the Colorado State Trustee Sale law ? Is it a non-judicial 90 day or less notice process? thank you
Read more…They hold both the 1st and 2nd for my client, and I have never dealt with them before.
Thanks! Al
Read more…Sigh... another issue with the house. We are waiting on the extension for the short sale for the bank and out of no where we are told that our credit score went down. It is down 16 points and they are doing a "rapid rescoring." Has anyone ever heard
Read more…I've had this happen before and my sellers have never been willing to give third party authorization to another agent but I'm curious about you all feel about it. Buyer is anxious and putting tons of pressure on her agent. I don't want to give the
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