I have a buyer that has waited the short sale process out for over 4 months.  We have an approval from Wells Fargo until 12.4.2012, however, the negotiator won't give us an extension.  We have everything ready, but she is getting a downpayment from FHLB and that needs 48 hrs to approve HUD, then 48 from Wells to approve that HUD, which will allow us to close by Wednesday of next week.  What can I do?  I have escalated, sent her supervisor and email.

HELP!!!!!

Good morning Superstars.

We are quickly closing in on 2013. Do you know how many transactions you need to close next year to reach your goals?  If not then this will help.

First I want you to punch your numbers into this chart. We are looking for how much GFI…

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Has anyone out there ever heard of a company called JUSTICE ONE FOUNDATION? Here is what I have just experienced. . .I have a negotiator at CHASE that denied my sales price while on a CHASE phone call, then called me the next day from a PRIVATE number, said he wasn't in the office but wanted to refer me to JUSTICE ONE FOUNDATION which is a company that will negotiate my short sale and get my seller more $ at closing and then the seller could give the money back to the buyer after closing. I…

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Before you go back to school, take this quiz. 

My academic pedigree has always been something I make light of, but it has served me well over the past…

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Good morning Superstars.

 

Here are this week's Superstar discussions.…

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So you have been working for several months negotiating a Short Sale. The junior liens have been sorted out and the Seller is receiving $12,000 from the lender as an incentive.

You spoke to the negotiator at the Servicer/lender yesterday and they stated the Short Sale was approved and you should have the approval letter in…

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Are you looking for Mira Loma CA real estate agents and…

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As always please call your CPA/Accountant or the IRS for detailed info. about your specific situation.  Here is the IRS publication that deals with cancelled debt.  One of the key things distressed sellers may want to look into is insolvency.

IRS for 4681 re: Cancelled Debt

Please contact me if you are a Broward county Florida resident who has questions about short sales.

Good morning Superstars.

We have a great discussion going on about Home Inspections and when to do them. Check it out.

Here are my thoughts:

First, there are advantages to the Buyer doing the inspection promptly. The main one being that If there are issues with the property the price can be adjusted PRIOR to the short sale being submitted to the lender. Secondly, why would a…

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Seller contacted me and wants me to take over from his listing Real Estate Co. It was placed on Freddie Mac's

EXCLUSIONARY list. That co. also has the buyers side. EQUATOR will not take ANY info. from his previous Real Estate office.

I told seller to get a release from his listing co. they are NOT cooperating. ANY suggestions?

Seller filed Chap 7 Bankruptcy & is fully discharged. Trustee removed seller's primary residence & investment property from BK filing stating "Chapter 7 Trustee has abandoned his interest in the properties."
Both properties are underwater. He has decided to keep his primary res & wants to do a short sale on the investment property that has 2 loans, 1st Chase, 2nd PNC HELOC. Can I move forward with short sale?

 

Good morning Superstars.

 

Here are this week's Superstar discussions.…

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