Flor Melgar
  • Female
  • Nashville, TN
  • United States
  • TN
Share on Facebook
Share

Flor Melgar's Friends

  • Myra McCaskill
  • Marlene
  • James ferebee jr

Flor Melgar's Discussions

BOFA Twitter-FHA loan w/BK

Started this discussion. Last reply by Carol Pease Sep 3, 2011. 3 Replies

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

 

Flor Melgar's Page

Latest Activity

Ismael Medina replied to Flor Melgar's discussion Borrower's Incentive Compensation & NET Question in the group FHA - HUD Short Sales
"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…"
Jul 9, 2015
Kevin - Greenville, SC replied to Flor Melgar's discussion Foreclosure in the group NationStar Mortgage
"FNMA will postpone with an offer if you push them and FNMA hard enough. recent experience."
Oct 27, 2014
ElizabethWeintraub00697006LyonRE replied to Flor Melgar's discussion Foreclosure in the group NationStar Mortgage
"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…"
Oct 27, 2014
Brett Goldsmith replied to Flor Melgar's discussion Foreclosure in the group NationStar Mortgage
"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…"
Oct 27, 2014
Ben Benita replied to Flor Melgar's discussion Foreclosure in the group NationStar Mortgage
"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…"
Oct 27, 2014
Flor Melgar added a discussion to the group NationStar Mortgage
Thumbnail

Foreclosure

I have been told that Nationstar does not under any circumstances stop or postpone foreclosures unless the reinstatement amount is paid; is that true?  The foreclosure is 2 weeks out.  See More
Oct 27, 2014
Flor Melgar joined Suzanne McLaughlin's group
Oct 27, 2014
Flor Melgar commented on Stephanie Lim's group FHA - HUD Short Sales
"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…"
Mar 27, 2014
Sheila Vardakis replied to Flor Melgar's discussion Borrower's Incentive Compensation & NET Question in the group FHA - HUD Short Sales
"I haven't experienced this Kevin.  Maybe it varies from bank to bank?????  I would think with it being FHA that it would be an across the board rule.  hmmmmmmm"
Jan 2, 2014
Sheila Vardakis replied to Flor Melgar's discussion Borrower's Incentive Compensation & NET Question in the group FHA - HUD Short Sales
"It isn't a part of the net so the bank would actually get $41K.   I put it on the HUD in the 500 section and put FHA seller incentive.  The bank will let you know if that isn't how they want it."
Jan 2, 2014
Kevin - Greenville, SC replied to Flor Melgar's discussion Borrower's Incentive Compensation & NET Question in the group FHA - HUD Short Sales
"FHA PFS are tough on lower priced properties.  you'll more than likely need an offer great than appraised value."
Jan 2, 2014
Kevin - Greenville, SC replied to Flor Melgar's discussion Borrower's Incentive Compensation & NET Question in the group FHA - HUD Short Sales
"It affects the net."
Jan 2, 2014
Flor Melgar added a discussion to the group FHA - HUD Short Sales
Thumbnail

Borrower's Incentive Compensation & NET Question

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
Jan 2, 2014
Flor Melgar joined Mayra Espinosa CDPE, HAFA, SFR's group
Thumbnail

SPS Select Portfolio Servicing, inc

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
Aug 8, 2013
joe beauchamp replied to Flor Melgar's discussion 3rd Appriasal - SPS in the group FHA - HUD Short Sales
"That would be an investor guideline, not servicer guideline."
Jul 30, 2013
Flor Melgar added a discussion to the group FHA - HUD Short Sales
Thumbnail

3rd Appriasal - SPS

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
Jul 30, 2013

Profile Information

First Name
Flor
Last Name
Melgar
Are you a...
Agent
State
TN
City
Nashville
My Profile
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.

Comment Wall (1 comment)

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

At 5:13pm on October 12, 2009, James ferebee jr said…
It's about time Flor welcome to the fold.
Jim
 
 
 

Members

© 2017   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************