ING is 1st lienholder & only offering $1150 to Compass 2nd($28K due) on Approval letter. Compass replies w/ release of lien for $1150 , but will continue to pursue judgement on Seller. Seller is willing to foreclose with these terms of short sale app
Read more…I have been reading this forum for a while and I am a short sale buyer. So far I haven't heard ANYTHING in rgds to our short sale. Who does the work for me, my lawyer, my agent or the seller's agent? Who is more involved with this process and who sh
Read more…Just received an approval from Wells Fargo it seems they now have new verbiage which states, "With the exception of a Home Affordable Alternative (HAFA) closing, nothing in this Demand Statement or in the release of the mortgage shall waive the right
Read more…Any one had the situation with a preapproved co-op BOA short sale where the investor is Fannie mae and the property is over priced and asset manager /negotiator says that Fannie Mae doesn't have a marketing provision to lower the price every 21 days
Read more…Hello. This is my first post here, and I wonder if the superstars can help me. There's a question in my Activerain SFR group that I think needs some authoritative answer. The question is, can an agent be the listing agent for a short sale property
Read more…I have been working short sale homes now for about 3 years, ranging in price ranges from 1 mil, down to 30k. During those 3 years, I've worked probably about 60-80 properties, and closed on only FOUR. Over those 3 years, I continually see people prof
Read more…Hearing through the RE Grape Vine, these are coming...we were sent a review from Citi in conjunction with Keller Williams that they were partnering on Short Sale/delinquent homeowners...heard also BofA is partnering with Re/Max....
What has everyon
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I just took a property off the market after receiving an offer , the offer is a low ball but what the heck , I felt at least it will get the ball rolling to submit package to bank since they did not want anything without an offer.
One week later I
Read more…Right now I am at the investor approval stage. Bank of America countered and we accepted. There is only one lien and there is no PMI. How long does it normally take to hear back from the investor these days? It has been 2 weeks since we accepted
Read more…I finally got the first and second to agree to accept the short sale "IF" we can close quickly (1 week). We're down to the next to the last day and the buyers want to take title in their trust. Mind you the sellers have already signed all of the pa
Read more…I am going to try to make a long story short....
Buyer #1 - move through process in Equator, everything is fine, buyer walks. Negotiator accidentally does a hard decline on the file.
Buyer #2 - already had this back up offer when the first buyer walk
Read more…We heard today from the seller's attorney that they are still collecting documents from the seller to submit it to the bank in order for the bank to review the offer.
The problem is that the seller is being very slow and is not collaborating. IS thi
Read more…Has anyone every heard of Short Sale Offer Wizard Software? I would appreciate any help. There is a guy on youtube who states he has the best software for presenting offers to banks and of course all the other stuff that goes with it, e.g. put in all
Read more…No doubt, it is a common situation. The BPO comes in higher than the price you have your home listed for. But normally, the bank is willing to negotiate a bit.
So... this is my 3rd deal with Chase in the past year and I am getting the feeling they
Read more…I am having the worst luck with BOA even making it past step one. BOA has had all of the homeowners requested docs and financials since Nov 28, 2011. I have had multiple conversations with the customer care people who keep telling me it will be assi
Read more…I represent a seller on a short sale with a first and second with a possible short window of getting an approval. I called to get another tax document that was not requested in the beginning from the second and the seller informed me they want to do
Read more…I have a file where M & T bank has the loan and Bayview Loan Servicing is handling the short sale. I submitted the offer on 1/9 and was told it was received and I would have a negotiator assigned within one week who would order the BPO. It has now be
Read more…Thanks to our very own moderator superstar Kevin M Lancaster Willson.... we have it from the authority at Chase, Mr John Rieger, that Chase will be on Equator as of October 4.
This has to be a good thing, doesn't it? Chase has traditionally not bee
Read more…Can anyone assist with contact info for escalating a Chase 2nd?
Negotiator insists on a $25,000 payoff for lien release only. There is no way to provided these funds.
Your sugestions or contact info is very much appreciated. Paul
Read more…I'm the buyer on a Short property in Kirkland WA. Long story short, the property had been listed for over 3 months with no activity, my agent was drafting our offer when the property went pending SS in our MLS. We talked to the LA and he said that he
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