This is a new one on me. I am hoping someone has experience with this. I have a listing appointment with a couple who had a bankruptcy about 4 years ago, in which at least their first and I think their home equity mortgages were discharged. They ha
Read more…Does anyone have experience as a Designated Broker selling their own investment properties? I'm pretty sure the Broker cannot get a commission of any kind. Is that correct? If an agent in the brokerage handled the listing, would they be able to get t
Read more…In a separate thread, I mentioned that Bank of America thought that LRC was doing such a lousy job, they decided to give them MORE short sales! *sarcasm
http://shortsalesuperstars.com/forum/topics/is-it-true-bank-of-america-moving-all-short-sales-to-
Read more…Need listing agent in: Chilhowie, VA 24319
Short sale listing. 20% fee.
EM brokerbryant@gmail.com
Read more…Ok so here is the issue. Everything was fine with the short sale and the documents were sent to Escrow. i got an email stating they are waiting on an extension because the closing date was missed. I have no idea why it was missed or who dropped the b
Read more…Have any of you run into this? The buyer's lender is insisting on a letter from the seller's 1st lienholder approving the short sale. The seller is only short on the 2nd lien (for which we have approval) and the HUD-1 provides for a full pay-off of t
Read more…Has anyone experienced this?
On August 10, Greentree, as second lien holder, sent conditional approval for $20,0000, with deadline of Sept. 21. They were told that CITI as the 1st lien holder will only approve $8,500. Greentree negotiator said to
Honestly I feel numb every time Freddie or Fannie sends out a press release for new guidelines. Freddie published one in the spring this year that they would SPEED UP short sale timelines and I have YET to see that happen. Then at the end of August
Read more…My house has been up for a short sale with BofA for almost a year, in Feb we received a contract for $200,000 and we were asking $215,000 so we take the offer . All paperwork is signed and turned in to begin the LONG process of a short sale. With a
Read more…Does anyone know if Greentree will ignore their original BPO (which was at a ludicrous value) after it expires and they obtain a new one? It is a FHLMC loan and this poor guy really needs a break and to get out of this loan!!!! Do they get simply
Read more…I had a friend ask me if a listing agent can buy the short sales they are listing? I know that banks will not allow family to buy them but I was not sure how to answer their question, has anyone ever bought a client's short sale or do you know if ban
Read more…Quick question for discussion - when do you pull title for a short sale? Do you pull it at the very beginning of the transaction or when you get short sale approval? If you pull it at the beginning, who pays for it - the agent, the seller or the atto
Read more…I just had a BofA negotiator tell me that we HAVE to close escrow on our short sale 1 week before the upcoming scheduled trustee sale (Calif) because the investor (Bank of NY Mellon) won't postpone the trustee sale? She says investors are tightening
Read more…Im looking for someone in the Myrtle Beach area that has experience with short sales. I looked at a short sale we really wanted and the bank (green tree) is being very difficult to deal with. I am sick of bugging my agent about the home. I've read th
Read more…My buyers got a copy of short sale consent and had 2 inspections done at cost of $800. Before more inspections done, I got a call from the sellers' agent saying they may want to cancel as now they spoke to CPA and may have to pay IRS. How do we proce
Read more…After having a few negative experiences with Bank of America with Fannie as investor Cooperative short sales being rejected due to Fannie's unrealistically high pricing requirements, I asked someone at Dignified Transition Solutions (DTS) who we work
Read more…Here is the scenario....
Have short sale with 2 outstanding liens. Obtained approval from first lender for short sale.
Second lender CitiBank stated they charged theirs off and stated it was sent back to Fannie Mae. ??
Well needless to say Fannie Ma
Read more…I had several properties I missed out on, in that when it came on the market it quickly went into contract and I was too late.
Typically I try to do my research, look at comps and many other variables, sometimes had to go to the city to look into op
Read more…I just had a short sale cancelled with BofA and I'm still trying to figure out why.
It is a Freddie Mac file. The initial offer we submitted took almost a year to be approved due to a COMPLETELY incompetent BofA negotiator and then it fell apart wit
Read more…
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