Bill Travis
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Credit Union, as a 2nd lien holder demanding non-refundable earnest money forfeited to the CU

Started this discussion. Last reply by Bill Travis Mar 8, 2011. 42 Replies

This is a HAFA short sale and I'm the buyer agent.The 2nd lien holder, an AZ credit union sent a form demanding that the buyer and the buyers agent sign "agreeing" to the buyer depositing a…Continue

Tags: sales, short

 

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HarryJohnson commented on Bill Travis's blog post Transaction Management Systems
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Apr 20

Profile Information

First Name
Bill
Last Name
Travis
State
AZ
City
Gilbert
My Profile
Captain Bill Realty, LLC Broker/Owner
Direct: 480 226 1630
Email: [email protected]
Website: www.CaptainBillRealty.com

Bill Travis's Blog

Lender Won't Sell to an LLC

Posted on August 18, 2011 at 3:15pm 0 Comments

I represent the Buyer. The lender PNC/Chase just responded to our offer with the fact that they will not sell to my buyer's LLC. They will only sell to an individual.

My buyer is a Canadian and the U.S. LLC has his wife and 2 children as Members. The purpose of the LLC in addition to the liability protection is to avoid tax consequences.

If they buy as an individual, and 3 months down the road Quit Claim to the LLC, the IRS may view it as a sale and the title company could be…

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Transaction Management Systems

Posted on May 21, 2011 at 7:11am 7 Comments

Does anyone know of a good Transaction Management System that can be used for everything:

REO list properties including expense tracking

Short Sales including ss package organizing, sorting, page numbering, headers with loan number and customer name, 1etc

Regular Listings

Buyer client transactions

 

Thanks,

Bill

 

One Spouse on Mortgage - Both on Title

Posted on March 19, 2011 at 7:36am 3 Comments

If one spouse is on the mortgage, and both are on title, do both have to fill out the hardship, or only the spouse on the mortgage?

 

Thanks,

Bill

Chapter 13 and Short Sale (Advice Please)

Posted on March 8, 2011 at 10:04am 2 Comments

A client is in Chapter 13

 

He wants to short sale his rental unit which is in bad condition (currently unrentable)

Comps show upgraded homes in the community as competition sold at average $115

Subject property needs $25-$30 work to bring to comp condition.



Several buyers are interested.

  • Client needs to get an “Affidavit of Abandonment for Real Estate & Asset” from the bankruptcy trustee, (after he decides that he really wants to…
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