Wayne Brooks
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Wayne Brooks's Discussions

From the SS negotiator, something sounds off: Want your guys opinion please.

Started this discussion. Last reply by Wayne Brooks Apr 1, 2013. 5 Replies

Sorry this might be long, but I wanted all the details here.Also I negotiate short sales and have dealt with some other shady/shyster negotiating "firms", so maybe my "hinky" radar is a little over…Continue

Any success fighting BPO's when the bank insist that no short sales/REO's be included in the comp.s?

Started this discussion. Last reply by Teri Christensen Nov 30, 2012. 13 Replies

I know this has been an ongoing issue.  When I show them that comp.s for a particular property are say 6 short sales/REO's and only 1 or 2 equity sales, the response is simply "we don't care, our…Continue

Did you know-Tax liability for Canceled mortgage debt on a principle residence that is NOT waived?

Started this discussion. Last reply by Smitty Sep 8, 2012. 7 Replies

Many of us get in the habit of saying "you're exempt from the tax liability for canceled debt on your principle residence.". Do you know in a lot of cases, this is not true?Did you realize that…Continue

Anyone with experience/suggestions for Central Mtg Co. ?

Started this discussion. Last reply by Rochelle Castro Aug 5, 2012. 2 Replies

I'm just starting my first one with Central Mtg., and I'm not hearing good things about them.  Also, SLS (was Saxon) has second, with small HOA.  Any suggestions or experience with them will be…Continue


Wayne Brooks's Page

Latest Activity

Wayne Brooks replied to Atlas Loss Mitigation's discussion HOA Liens
"Generally we know this in advance of accepting an offer, and structure it so the buyer pays the difference, adjusting their offer accordingly. At this point working something out between the buyer and the hoa is probably your best bet."
Sep 29, 2016
Wayne Brooks replied to David R.'s discussion HAFA Short Sale
"Generally, attorneys negotiating short sales are the worst. A preliminary title search should have done at the get go, so the offer could be structured properly, and the junior lien holders being negotiated the whole time. This should Not have been…"
Sep 12, 2016
Wayne Brooks replied to Lisa Jalufka's discussion Relocation Assistance Question
"Then she will receive NO relocation assistance....since it is specifically for relocating from the subject property."
Jul 14, 2016
Wayne Brooks replied to DONNA POUGH-RIVERA's discussion Ocwen short sale approval then foreclosed
"Check the court docket to see if they filed a motion to vacate the sale."
Jun 15, 2016
Wayne Brooks replied to Kristina's discussion Buyer on a Wells Fargo SS and I NEED HELP!!
"Well, did you make a counter offer to the bank's counter?"
Jun 15, 2016
Wayne Brooks replied to R's discussion Short sale happened Got the 1099-C but..somthing is missing?
"Just file it anyway, if you can't get it corrected. If this your primary, there's no tax due, so....?  FMV should be irrelevant on a SS, only applicable on a foreclosure sale I believe."
Feb 19, 2016
Wayne Brooks replied to Sigal Waizman's discussion CHASE-ARMS LENGTH TRANSACTION
"The attorney's name is on the purchase contract,How, in what capacity?"
Nov 22, 2015
Wayne Brooks replied to Larry A. Strauss's discussion Jr. lienholder claims not subject to Fannie/Freddie guidelines because the lender spun debt off to an LLC
"No lender or bank is required to accept what Fannie offers. It's only if they accept Any money from Fannie in the deal, then they have to abide by the guidelines."
Nov 3, 2015
Wayne Brooks replied to Rivi Z. Cohen's discussion Nationstar
"Trying to buy a particular note is not going to happen. I know it has been advocated by some guru types, but it's not going to happen. One problem is that you are not a legitimate "counter party" and the note owner has certain…"
Sep 11, 2015
Wayne Brooks replied to Alba's discussion Trird Loan is fraudulent judgment
"Yep, a little late in the game to be looking at it now. A quiet Title will take months. Is definitely against the seller, or simply someone else with the same name? The judgment will reference a specific court case no., read it."
Sep 9, 2015
Wayne Brooks replied to Jill Schappel's discussion HAFA Regulations in regard to commission
"If it's HAFA, then they'll pay a 6% commission. That doesn't mean some lien holder can't ask for a piece of it, or that you can't do it. But, I believe HAFA has a reg that no one can contribute more to the junior lien than…"
Aug 25, 2015
Wayne Brooks replied to Agent in Florida's discussion my buyer is being charged a shortsale processing fee that was not disclosed by the sellers agent
"Exactly, show up prepared to close as scheduled. The seller's attorney may not have to disclose his fee, but that doesn't mean the buyer has to pay it. If the attorney didn't have an agreement to get paid by his client, too bad. Do…"
Aug 6, 2015
Wayne Brooks replied to P Nicolas Velecico's discussion FHA Ammendetory Clause
"Yep, silly. I just had the same exact situation, the listing agent signed it, right or wrong. I looked up the FHA guidelines, and They said FANNIE was exempt, but the lender insisted."
Jul 28, 2015
Wayne Brooks replied to Matthew Jeschke's discussion "Lender Promotional Credit?" on HUD1, quicken loans?
"I assume you mean it's a credit from the Buyer's lender, on the buyer side. Used to be called the Yield Spread Premium, a rebate given to the buyer for accepting a slightly higher interest rate....1/8 to 1/4% higher rate equals a 1-2%…"
Jul 27, 2015
Wayne Brooks replied to james blanton's discussion everhome shortsale contact info???
"Did you verify the bank actually owns it? They would have had to actually foreclose. Many owners who go through BK mistakenly think the title automatically goes back to the bank."
Jun 23, 2015
Wayne Brooks replied to Sarah's discussion Capital one
"I assume you mean the seller won't sign. If the seller isn't motivated to cooperate, there's nothing you can do. Move on."
Jun 12, 2015

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At 4:16pm on March 4, 2013, Douglas Michie Johnson said…

Wayne,  I got no idea how this board works; I clicked to respond to your last comment re: crazy good cash flow and ended up here with nary a sign of the comment to which I am responding.  The major problems with "moving the property" are that the owner is well aware of what a good deal he has going, and is not at all interested in selling.  He has an estranged wife who thinks she has a shot at the equity in family court, and is doing everything she can to trigger a default and foreclosure.  Meanwhile, attorney fees are eating up the equity.  Everything I  have said is my opinion on public information, you can research the facts at: In Re: MB2, Inc. Southern District of Florida, 12-31308-BKC-AJC.  My contact information is there, too.

At 9:41am on March 4, 2013, Douglas Michie Johnson said…

No clue where Wellington is, Wayne. I assume it is near Weston. Last year I was working with Carlos Gomez, a Realtor near Aventura on his own home, and he twice had a short sale tank. He finally ended up losing it to foreclosure.  I have nothing going right now except a 5.5 million apartment complex with a substantial balloon and crazy good cash flow, but I sense the sequester is going to stimulate the short sale market. I added you to my Rolodex and will suggest appropriate short sales to my mortgage impaired clients.

Doug Johnson

Debtor/creditor attorney 



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