Started this discussion. Last reply by Suzanne Martin Jan 16, 2013. 4 Replies 0 Likes
Good morning! I am assisting a homeowner in doing a short sale on their property in which they have owned since 1984. They refinanced in the early 2000's and then took out a HELOC to do some…Continue
Started this discussion. Last reply by Jeff Payne Jun 24, 2011. 9 Replies 0 Likes
We submitted a complete file to Wells on June 14th including an offer. Wells did not respond for almost a week. The sale date is set for the 27th. They said that they would not postpone any sale…Continue
Started this discussion. Last reply by Trina Gonzales Jun 7, 2011. 10 Replies 0 Likes
Hello everyone. I am new to doing short sales and am pursuing this niche for my business. I would truly appreciate some of your experience and insight. I moved to the Central Coast of California…Continue
Posted on March 6, 2013 at 8:13am 5 Comments 1 Like
Hi Everyone. I am negotiating a short sale where the first is a Freddie Mac serviced by Nationstar and the second lien holder is Cenlar. Cenlar wanted a $43K payoff and I negotiated down to a bottom line of $12K. The Freddie Mac guideline is to pay no more than $6,000 to the second lien holder. The buyer had agreed to reduce the closing cost credit by $3,000 and both agents will be pitching in $1500.00 to come up with the other $6,000. I had a new HUD done and sent it to Nationstar. …
ContinuePosted on February 20, 2013 at 10:28am 2 Comments 0 Likes
I have a SS Listing that has the first with Nationstar and the second with Cenlar. It was odd that the first, Nationstar, said that they would not give me any kind of approval until I had approval from Cenlar. I couldn't figure out why that was until I started working with them closer.
I sent the HUD to Cenlar that showed a $6000 payoff from the first. It also showed the buyer's closing cost credit and of course the agents…
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