I'm having major issues on a FHA/PFS - the negotiator will not move forward because the homeowner filed BK 7 and has been discharged per the legal department they cannot do it. I got HUD involved…Continue
"Hi Guys, quick question.
I have a going smooth NJ FHA Short Sale, however the BOA Negotiator explained to me that although the house has been in the market for over a year he has to start the negotiations at 88% and not at the 84% I understood they…"
"It depends on whether the investor. If it's not Fannie Mae nor Freddie Mac, you have a very good chance that Nationstar will be able to postpone the foreclosure. They are now sending their auction properties to Homesearch.com. BTW. My last…"
"Nationstar does postpone. How delinquent is the loan? At times they try to enforce a 30 day rule to have a short sale review open. Also, if the investor is Fannie Mae they may be more reluctant to postpone. It depends on various…"
"100% NOT TRUE unless you let them go with that!!!
Too long a story to get into here, BUT, they absolutely will stop the sale if you have an offer in hand.
You can escalate your file (email me, [email protected] and I will tell you who to…"
"Ask the negotiator to request a variance for the closing costs. I had one that just closed yesterday where I had to be very insistent and finally got the negotiator to request the variance for 4% and we got it. As long as the NET to HUD…"
I received ATP for $50k list price with HUD netting $44k by 2/21/14. They are offering the homeowner a incentive of $3k. There are no Jr. liens and we have a cash buyer. Is the the $44k minimum that HUD is willing "NET" inclusive of the $3k? or is that a separate transaction that does not affect the "NET" amount? Where does it need to go on the HUD? See More
For Short Sale - OverviewHomeowners interested in pursuing a short sale, can call 888-818-6032 to speak with a Loan Servicing RepresentativesTo speak to a Loan Servicing Representative to Help you with answers to your questions regarding the status or history of your account call please call 888-818-6032Representatives are available Monday through Thursday from 8:00 AM to 11:00 PM, Eastern Time.Friday from 8:00…See More
Does any know where in the servicer guidelines it would state how many appraisal are allowed to be done on a property? I have had previous situations with BOFA and Chase, where the SS has taken too long (2 years) a 3rd appraisal is ordered. Well, when it comes time to meet the net of that 3rd appraisal and get it approved by HUD, it is declined due to servicer using 3rd appraisal. No matter what the value of that 3rd appraisal is, we have always have had to go back to the value of the 2nd…See More
I am a billingual (English/Spanish) Realtor/Investor working in Nashville TN. We inform sellers facing foreclosure what their options are. If they decide to short sale their home, we list the home and work the short sale.
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