"Hello, Wendy. I hope you're doing well down there in the land of sun and socially-distanced fun.
Did you see my earlier comments about the FHA owner, past due for 7+ years? Have you ever seen FHA approve a…"
Bill Garrett's Groups
Bill Garrett's Discussions
QUICKEN
Started this discussion. Last reply by Ben Benita Oct 9, 2018. 2 Replies 0 Likes
Any guidance on working with Quicken on a short sale? Forms and docs needed? Contact info? Thanks.Continue
CPA RECOMMENDATION - PENNSYLVANIA
Started Apr 10, 2017 0 Replies 0 Likes
Looking for a tax professional who has experience with the application of Mortgage Debt Relief Act. I have a very large short sale. The contract was signed in 2016, hence the Act still applies. I…Continue
TRID & The Short Sale Settlement: Who's Doing What, When??
Started this discussion. Last reply by Vikki Lucas Dec 7, 2015. 5 Replies 0 Likes
As we move forward into this unknown TRID world, I know I would welcome any info about what you folks are discovering about this TRID stuff. Pooling our experiences should help with the learning…Continue
Bill Garrett's Page
Latest Activity
Bill Garrett commented on Stephanie Lim's group FHA - HUD Short Sales
"@Brett Thanks for the feedback. Your comments affirm what I've experienced with FHA. Often a challenge navigating the one-size-fits-all rules written by faceless Federal bureaucrats. I'm not optimistic on this file, but…"
Bill Garrett commented on Stephanie Lim's group FHA - HUD Short Sales
"@Brett & @Guerry. I normally steer away from any FHA file that's this far past due, but didn't know if the military serviceman wrinkle might allow a more favorable result. Any suggestions for getting some…"
Bill Garrett commented on Stephanie Lim's group FHA - HUD Short Sales
"LAST PAYMENT 7 YEARS AGO.... I have an owner relocated by the military seven years ago, thereby forced to move from his home with the FHA mortgage. The mortgage servicer (Selene Financial) suggested he now apply for a short sale. My…"
Bill Garrett commented on Wendy Rulnick's group VA Compromise Sales
"Thanks, as always, Wendy. I know you've handled a couple of these VA Compromise Sales.
I knew the impact on the remaining entitlement had always been this way, but I thought I might have missed some update that made the VA policy more…"
Bill Garrett commented on Wendy Rulnick's group VA Compromise Sales
"Is current policy for VA to waive the deficiency balance? Thanks."
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Bill Garrett's Blog
Incarcerated Seller
Posted on January 26, 2011 at 4:25am 3 Comments 0 Likes
I have a short sale selling homeowner who finds himself an involuntary guest of the state. Looks like he may be there for the foreseeable future, likely to be years not months. He has a conventional FNMA mortgage (and a second mortgage), both with First Franklin.
I anticipate and can handle the logistic complications of getting docs signed, etc. but wonder if anyone has had a similar experience with a locked up-seller. What, if any, impact would that key fact have on the…
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