It has just come to my attention the HUD does not require HECM/ Reverse mortgages to be listed on the MLS. Has anyone else run into this? I have been negotiating short sales in south Florida for over 10 years and I was just made aware of this.
Added by OFELIA SIERRA on March 10, 2023 at 8:44am — 1 Comment
Business Process Outsourcing or BPO is when a company works with an external service provider to carry out various business processes. The BPO provider will take care of essential functions, tasks, and operations that are usually time-consuming, complex, and do not need to be completed by central figures.
The BPO industry comprises countless BPO companies that specialize in a wide range of BPO Services. Business process outsourcing aims to provide businesses with the tools to achieve…Continue
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How to get a mortgage approved with Bad Credit Score?
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If you've stumbled upon this article, then you're obviously looking for information about CBD reviews and ratings and want to learn more about them. The good news is, you're not alone. Millions of people all across the globe are exploring CBD as a possible treatment for various ailments, including anxiety, depression, arthritis, epilepsy, chronic pain, and much more. For this reason, there is a tremendous amount of research being done on CBD.
The good news is, CBD is not a fad; it's…Continue
Added by Laura Ravinder on August 31, 2021 at 10:27am — No Comments
Hi fellow Realtors! been awhile since I have been here but boy do I need help!
I have a Celink reverse mortgage that was just transferred to Novad for servicing. For starters, If the owner is alive and not in a facility, does he have to occupy the house in order to do a short sale?
Added by Barbara Wing on February 12, 2021 at 7:02am — 1 Comment
You often hear the term Short Sale and Short Pay. They both are programs that involve a servicer review and a that a lien holder is being shorted and taking a loss on the mortgage payoff. They are similar in that nature but the outcome is distinguished as one program transfers the home to a new purchaser and the other is a designed for a borrower to retain ownership of their home.
In a short sale you are going through a detailed review with the mortgage servicer(s) and lien holders to…Continue
Added by Brett Goldsmith on April 22, 2020 at 5:00am — 1 Comment
If you haven't run into this yet, be aware that Select Portfolio Servicing (SPS) with Chase backed assets have a new guideline that can throw a wrench in the transaction. They are only allowing one short sale review! Meaning that if the buyer walks or if the deal is denied for a low offer, you won't be able to try again.
I had an approval and the buyer walked then they would not allow us to submit at the same terms due to this guideline. We also had a…Continue
Added by Brett Goldsmith on October 31, 2019 at 4:08am — 2 Comments
If you need short sale help or have questions about a specific short sale transaction please reach out to our community of specialists at 1-888-664-6964. We are happy to answer any questions and help point you in the right direction to accomplish your goals.
Added by Brett Goldsmith on July 15, 2019 at 11:34am — No Comments
I have a customer who need agent in Orange county Florida.
It was approved but failed to go to settlement due to buyer's loan.
Please email me asap.TY
Added by Nina Jihee Yoo, CDPE on July 31, 2018 at 2:27pm — No Comments
As anyone dealt with any short sale lenders that will agree to pay the HERO tax assessment? Are lenders declining short sales due to the HERO being a "future" tax bill rather than a current or delinquent tax? Need responses
Added by Tony Morales on April 9, 2018 at 8:59am — 3 Comments
While it IS possible to have a great "BUTT", eat right and get in those squats, there is simply NO such thing as a great "BUT"!!!!
I could lose the weight.....BUT
I could improve my relationship....BUT
I could get more clients...BUT
I could close more short sales...BUT
Just be honest....start following "but" with this phrase:
"but....it's just not that important to me"
and watch how it puts things…Continue
Added by Ben Benita on January 28, 2018 at 2:30pm — No Comments
Nationstar is now Mr. Cooper! They do have a new Mr. Cooper letterhead authorization letter and they are still utilizing equator. Nothing internally has changed to our understanding of the short sale process for now. This was a move to re-brand the company.
Added by Brett Goldsmith on September 12, 2017 at 4:45am — 1 Comment
We had a surprise just before closing on what we thought was a traditional sale. We found out the seller had a loan modification in 2015 that include and $80,000 junior lien from HUD. This made the payoff about $20,000 short to close and HUD would have to agree to take $60,000 to $65,000 and release the lien and note. According to the seller's attorney, HUD doesn't negotiate. I don't believe that because after 500+ closed short sales I've never experienced a lender that would not work with…Continue
Added by Edward Goldfarb on July 18, 2017 at 9:47am — 4 Comments
Has anyone been having an even more difficult time getting the approvals over the last 4-5 months than usual? Seems like lenders are holding back since the market has gotten better or is it just me?
Added by Kathy Moore on July 7, 2017 at 5:57am — 2 Comments
Added by Donna Perry on June 23, 2017 at 12:23pm — 3 Comments
Just initiating a short sale with Ditech with Ginnie Mae as the investor. Trying to see if I need to start off the jump escalating anything to at least get off on the right track... Does anyone know if the servicer will pay for a short sale processor..? Thanks
Added by Robert on April 25, 2017 at 5:00am — 2 Comments
Been working a short sale with Shellpoint as the first for over 2 years. Wells Fargo as the second. 1mil a piece owed on both. Wells, 2nd removes their lien and will issue 1099. Shellpoint has been playing games with the file and now on the 4th processor. Give them everything they requested, for the 12 time, and now tell me their foreclosing. Any suggestions??
Added by Rick Houser on February 9, 2017 at 9:21am — 2 Comments