Please Advise. Does Freddie Mac typically allow for Broker contributions to go to the 2nd lien holder? This file is providing sufficient net to the 1st B of A, but the 2nd US Bank has refused to accept the allowed payoff.

 

Thank you.

Stimulus. . .Coming to an end. The experts are saying, the shrinkage of government will represent a major drag upon the econ omy during the next few years. This follows a period in which we experienced major economic stimulus from…

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I just recently got a counter on an Avon Indiana short sale I'm handling on the buy side .  Believe it or not the bank countered our full price offer for just $100. more.   My buyer and I had a good Laugh at the ridiculousness of it all, the time wasted and the money spent to collect the one hundred $ bill.

It always amazes me when I hear the stories of agents who talk about horrible short sales are. "Don't waste your time on a short sale", they tell homeowners.







"They are a waste of time. The lenders won't approve them and the process is horrible. The last short sale I worked on took 9 months", they say.…







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These FTC Mortgage Assistance Relief Services (MARS) disclosures were put out for Florida Realtors(R) but I'm sure you can adapt them for your use as well. These documents were provided by the Florida Association of REALTORS(R). The package also includes an opinion from NAR and the complete FTC MARS Rule. I hope this helps. …



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FYI, If Chase holds both 1st and 2nd liens, 1st TD negotiator will handle both now per Chase.

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If we are to believe the Mortgage Bankers Association, we are out of the quagmire and moving to higher ground in the housing market.  In this same publication the next day, one article referring to the MBA's analysis of the statistics indicates that delinquencies are falling and “Absent a significant economic reversal, the delinquency picture should continue to improve during…

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According to the Philadelphia Inquirer [1], Patrick Rodgers of West Philadelphia was able to "file a foreclosure action against Wells Fargo.







Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.







I bet there are a lot of homeowners facing foreclosure that would love to do the same thing. You work so hard to negotiate a reasonable loan… Continue

Brentwood Governors Club Seeing More Distress Sales

Well Known Gated Brentwood Tennessee Neighborhood Experiencing Increased Short Sale and Foreclosure Activity

Per my previous blog posts, Financial Distress…

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Does anyone know on average how long PNC will list a short sale before it goes up for auction?

According to the Wall Street Journal [1], the average homeowner with a home in foreclosure hasn't made a payment in 492 days. What's even crazier is that those homes are still in the foreclosure process.



That means that a homeowner can live rent free for even longer than 492 days. How long could they potentially live rent free? …



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Many homeowners bought their home at the peak of the market. In the hardest hit areas, they paid $500,000 for homes that are not selling for $250,000 (or even less.)







Their home is costing them $4,000 a month. (That is the total after paying property taxes and insurance.) Renters have moved into the neighborhood and are paying less than… Continue

Nashville Foreclosure and Short Sale Help from a Nashville Foreclosure and Short Sale Expert. Brentwood, Franklin, Cool Springs, Nolensville, Murfreesboro & Smyrna Real Estate. Pre-foreclosure and preforeclosure help and counseling. Golf course homes and luxury homes. Serving Brentwood, Franklin, Cool Springs, Nolensville, Murfreesboro, Smyrna, Nashville and Surrounding Communities in Metro Nashville, Davidson County, Williamson County, Rutherford… Continue

FHA Insured Mortgage Foreclosure Help

How to Stop Foreclosure If You Have an FHA Insured Mortgage Loan

FHA Insured Mortgage Loan Short Sales (HUD Pre-Foreclosure Sales Program)

Missing a mortgage payment (i.e. defaulting on your mortgage loan) creates a lot of personal and financial stress. This stress is even worse if the financially distressed homeowner and borrower receives a foreclosure notice, Notice of Default, or Notice of Trustee's Sale (or…

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Financial Distress Hitting Affluent Towns and Neighborhoods

Per my previous blog posts, Brentwood Distressed Sales Activity Increasing and…

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Good afternoon, all!

 

I apologize if this is not the proper forum for my questions, as this is all completely new to me.  I am an anxious first time home buyer who just entered into a contract on a home that is a short-sale with BoA, and am really hoping for a smooth process.

 

I will attempt to be as brief as possible.  Here is the scenario....

 

Home was listed 1 week ago as a short-sale.  The seller's lender is BoA, and appears to be the only…

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If you are a homeowner, then the housing crisis has decimated the equity in your home. Many families have watched years of hard work spent building their equity go down the drain.







Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.







But, there is one group benefitting from the crisis: Home Buyers. They are able to buy a home at a… Continue

"What? I Didnt Know We Had To Pay That Fee?!!"







Many agents and buyers are scared of short sales. Here is something that I do to make the short sale process easier for the home seller.







Before I start negotiations with your lender, I will order a complete title search. Here is why I do that. I want to know all the costs upfront,… Continue

Oakland County Michigan: Mike Sher sold his 50^thSHORT SALE Last Year!, That is 50 Foreclosures Stopped and 50 Sellers Taking Control of Their Lives! Certified Distress Property Expert servicing; Bloomfield, Beverly Hills, Birmingham, Farmington Hills, Rochester Hills, Troy, West Bloomfield, Huntington Woods, Franklin, Bingham Farms, Novi, Northville and beyond!

 

Thank you to all of my Sellers who believed…

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