I am on hold waiting for REDC to explain to me what "marketing period" is. She claims it is the amount of time allowed by them to handle a short sale. I say it is the amount of time an active listing is allowed on the market before the cooperative short sale expires. IF  a purchase contract is not received within the marketing period of 90 or 120 days the coop short sale is declined. Otherwise the coop short sale must conclude to its end. 

A purchase offer was signed two weeks after…

Can anyone tell me if they have received leads for short sale listings from the Lead Machine that they talk about on here.

Do the leads come from the owners of the property.

 I would like to list foreclosed properties can anyone tell me how you get these listings.

Good morning Superstars.

Here's a sampling of this week's Superstar discussions.

11210 Burke St Beaumont 92223

Are you searching for homes for sale in the Beaumont CA? The link above is a featured listing of a coveted Fairway Canyon community home. Check it out, it is a beautiful home.

And if you'd like to search more homes in Beaumont just click on the "Search Homes For Sale" link at the top of the listing page, or just use the real estate…

I have a property that is in the foreclosure process in Florida. Sellers served with docs in Oct.2012. Waiting for mediation. Loan Modification failed. Received email from realtor today requesting to gain access to property for interior BPO. Property is not on short sale yet. Has anyone been getting these requests? A mediation appt has not been set. Want to know if this is legit or not.

Thanks
Ismael Jusino

Short sale listings are different from listings where the seller has equity. When we receive an offer on the listing and the seller agrees to the price it does not mean that the lender will accept the price. We mention a settlement date in the original accepted offer but may not hear from the lender until after that date.

When I receive offers on a listing I talk to the buyer agent and explain how the process works and also state that it is important for them to provide any…

I have had a cooperative short sale since November. It was going smoothly except for the poor communication, We had a buyer within a week of listing. We accepted all their terms even though they put the blame on others of why the file was losing the race against the tortoise. Blah..blah..blah..Fannie Mae...blah..blah..blah..This month I get "3-4 days and sending approval" with the usual nonsense attached to it. 

Then BLAME. Quote: We have received…

I have a client that has contacting me about his home.

He was foreclosed on in 2009. He tells me he has been making payments to Chase Bank since the foreclosure, he can no longer afford them and wants to know what to do? I really do not know where to tell him to go next. At the time, the bank informed him that foreclosure was his best option, gave him $2,000 to get out quickly, and worried about his family he did as they asked..Now he is hearing about friends not paying anything after…

Loan modifications are a popular option most homeowners turn to when they are struggling with mortgage payments. It isn’t a secret however that it hasn’t worked as well as we hoped. The idea of “modifying” your current loan to create a more affordable payment plan seems enticing but do these popular loan modification programs actually work? Let’s looks at the data.

Don’t get me wrong, loan modifications do work for certain homeowners. Statistically, it is not for the…

Good morning Superstars.

Here's a sampling of this week's superstar discussions. Please stop by and participate.

I finally broke down and responded to an automated Bank of America email survey.  The email was titled "Help Us Improve Our Process."  I received the email because one of my Destin short sales was declined in Equator. Why? Our seller was a day late getting us newly requested documents. We had to re-initiate the short sale a few days later.…

As a follow-up - Kathy has referred this file to an individual who is now handling it. Communications has picked up and emails and phones calls are working well. Unfortunately, because of the delay the current pay stubs and bank statements are outdated. I now need to go back to the homeowner and asked for another more recent set. This would be the third time i have sent in "recent' pay stubs and current bank statements.. The next thing will be a need to get a new appraisal because a decision…

The Winchester, Virginia real estate market is showing signs of good health.  The first quarter of 2013 has had a…