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Bill Travis's Discussions
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 0 Likes
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
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- 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 11:15am 0 Comments 0 Likes
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…
ContinueTransaction Management Systems
Posted on May 21, 2011 at 3:11am 7 Comments 0 Likes
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 3:36am 3 Comments 0 Likes
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 7:04am 2 Comments 0 Likes
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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