Ok do you all do verbage such as " Bank accepts buyers amount as payment in full without pursuit of any deficiency judgment to seller." etc., in attempt to protect the seller? And what is the latest with banks going after the seller after the short
Read more…I just got off the phone with a client who is wanting to complete a short sale on her property. The home was part of the bankruptcy, however the attorney noted it as their homestead. Can I legally do a short sale on this property?? I have always hear
Read more…Got 1st lienholder to approve short sale with seller getting $3000 in HAFA relocation assistance, then get approval from 2nd lien holder with stipulation that condition of approval is that the $3000 be paid to them. So much for the HAFA PROGRAM Just
Read more…I just had a negotiator from Suntrust contact me with a request for seller contribution on a 2nd lien of $15k. 1st w/ Seterus owned by Freddie Mac, and the negotiator tells me the following:
"we can send the approval letter to you, however we will b
Read more…Hello all Superstars,
I can use your help and guidance, here. This is a description of my dilemma.
I'm used to doing short sales in Ohio, where I am from. Ohio uses the "judicial process" and results in a Sheriff's sale.
Now, I've relocated my busine
Read more…I've had an FHA short sale open with an offer since February. We were issued the approval to participate 05/18/2012. The offer matched up with the numbers on the ATP and meets the minimum required net.
We're still unable to get an approval letter,
Read more…I received my approval letter from BOA which included 8% of what was owed to Real Time Resoultion the second lien. BOA also gave HIN incentive to borrower. I sent HUD to RTR. They want the 8% plus the HIN incentive. I haven't reply to their offer, do
Read more…Has anyone ever gotten a "preliminary" approval letter from PNC on a VA loan? I just received one and while it basically addresses most issues, it does not mention the deficiency and whether it will be waived. Because it is a VA loan, will it automat
Read more…Wanted to make sure everyone saw these. Freddie's bulletin can be found here: http://www.freddiemac.com/sell/guide/bulletins/pdf/bll1216.pdf. And apparently Fannie's will be available for public consumption tomorrow, 8/22.
I am encouraged by what
Read more…Greetings,
Short sale masters of the universe, I am calling upon thee for some guidance on a file I came across yesterday. I am the negotiator on the file, but I am also brand new to the negotiating world. Wells is the servicer on this particular sit
Read more…Does anyone have a contact at Fannie Mae that they can forward?
I had a 1st lien short sale approved by my negotiator with Cenlar, however we had to go back to Fannie Mae to increase the 2nd lien amount to $2400.
Fannie Mae is now saying they want
Read more…Good afternoon everyone!!
I am trying to locate someone from Green Tree with pull. I need to get this file moving. The bpo was ordered on the 31st of July and has been in "escalation" sense the 8th of this month. Please please HELP!!
Thank you!
Read more…Just wondering if anyone has had this situation occur???
List agent e-mails an addendum for buyer to sign (AFTER APPROVAL & CLOSING DATE APPROACHING). No explanation was given. The addendum stated:
SELLERS AGREE TO GIVE BUYERS SELLER CONCESSIONS IN
Read more…So here is my issue. We had an appraisal done on the short sale we are trying to buy. The house is selling for $180k but the appraisal only came in at $175k. We have to pay the FHA down payment of 3.5% which is $6,400.00. After we pay this amount the
Read more…I have been working a SS with a Veterans Loan for the past three months. Now that we practically have come to the final procedure the bank that holds the mortgage is asking us the Real Estate Broker to lower our comission. We signed a 6% and now t
Read more…Wells Fargo and Chase will be involved in the short sale of a house. I called both banks and asked about their policy to implement a short sale before a client was late... Before they ran out of money. Neither will look at the file prior to an offer.
Read more…Does anyone have a better way to reach Central Morgage Company? I have ph no 800-366-2132 ext 5481 and cannot seem to get anyone. After a short time on hold, I'm transferred to a general delivery v/m and of course, no one calls me back. I've tried
Read more…Being that there is hardly any in-depth detailed information on Reverse Mortgage Short Sales, any and all that are experienced with these should feel free to help us all out so that we can have a one stop post that is basically a "rough guide".
Read more…Does anyone have experience with doing a short sale on a reverse mortgage? Can it be done?
Read more…I recently initiated a short sale on equator, which happens to belong to BoA and this morning I got this message:
"Dear Agent, your file has been assigned to REDC to work as a FNMA COOP. We are
currently in borrower outreach process to confirm intere
**********************************
like buttons
************************