Guerry Clegg
  • Male
  • Columbus, GA
  • United States
  • Georgia
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Guerry Clegg's Discussions

Short sale checklist

Started this discussion. Last reply by Patricia Bravo Dec 18, 2012. 2 Replies

I use Top Producer, which makes it easy to schedule tasks, like emailing updates to buyers agent. Does anybody have a general checklist they could share? Obviously, there's no one-size-fits-all, but…Continue

Chase VA compromise sale

Started this discussion. Last reply by Mike Rosania Mar 30, 2012. 5 Replies

My colleague is representing a seller with a VA loan through Chase, and her contact -- presumably a negotiator -- said they would accept a net payoff that was $3-4k below the VA required 88.13…Continue

Who has to say 'Yes'

Started this discussion. Last reply by Joseph Alfe Feb 6, 2012. 3 Replies

I tell clients and agents that one of the keys to getting short sales approved, or at least understanding the process, is knowing who has to yes. The lender(s), obviously, has to, but there's often a…Continue

VA shortsale and Fannie Form 710

Started this discussion. Last reply by Guerry Clegg Feb 6, 2012. 2 Replies

I'm working a short sale with SunTrust, and they have asked for the seller to complete the Fannie Mae form 710, Uniform Borrower Assistance form. I don't recall sellers having to complete this for a…Continue


Guerry Clegg's Page

Latest Activity

Guerry Clegg liked Stephanie Lim's group FHA - HUD Short Sales
Mar 28, 2023
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"HUD should approve if everything else lines up. Net, contract terms, etc."
May 12, 2020
Guerry Clegg posted a status
"Anybody have any contacts for Renasant Bank? This is an FHA loan."
Sep 19, 2019
Guerry Clegg replied to Eric Middlebrook's discussion Penny Mac digital signatures? in the group PennyMac Loan Servicing
"They did on mine that I just closed. "
Aug 21, 2019
Chad Gelsinger replied to Guerry Clegg's discussion Borrower current in the group VA Compromise Sales
"Hi Guerry, We have never closed a VA Compromise Sale with the Borrower being current. VA regulations typically require 60 days of delinquency. It makes sense the Servicer will not close without the VA backing. I would agree with Brett, where the…"
Jun 19, 2019
Short Sale Superstars LLC replied to Guerry Clegg's discussion Borrower current in the group VA Compromise Sales
"Maybe they were okay with not taking out a claim after that sale if the deficiency was small. Most servicers won't approve short sales for FHA or VA if they won't pay out the…"
Jun 19, 2019
Guerry Clegg added a discussion to the group VA Compromise Sales

Borrower current

I have a VA short sale that is taking a long time for lender approve. They said the holdup is the seller is current on her payments so they have to get a variance from VA. Someone at VA told me they don't issue such variances, and if the lender approves the short sale, VA will not pay the guaranty because the borrower is not in default. But I closed one last fall where the seller remained current and never went into default, Any thoughts?See More
Jun 19, 2019
Guerry Clegg joined Sara Mehrpouyan Los Angeles CDPE's group

PennyMac Loan Servicing

This group is for information, tips and solutions for PennyMac Short Sales.See More
Jun 14, 2019
Guerry Clegg commented on Jeff Payne's group US Bank
"Are these escalation contacts current? US Bank gave a hard decline after approval of VA short sale because the buyer's lender could not work out one issue. We took a backup contract with identical terms -- net, loan type, everything -- and once…"
Apr 12, 2019

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I've been selling real estate for 9 years and added short sales as a specialty about 4 years ago. I've completed a number of them and hold the SFR designation. But there's always so much more to learn. This site is one of the best places to learn because of the breadth of experience everyone here has collectively.

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