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My short sale extension ran out with ocwen. I called to get an extension. I was told I would recieve one within 24-48 hrs. Guess What ? It did not happen. I called later they told me the hud was not legible. this is the same hud submitted for the 1st approval. I sent them a new one with the new coe date. Now I am being told 14 days later short sale letter was cancelled because sellers are qualified for HAFA . My clients declined hafa the first time. I have submitted another hafa denial letter. Wells Fargo Lender is ready to fund. I can't get past customer care agents. I tried calling Ron Ferris which was listed on this site. What else can I do

any one have a good sub2 contract to share.

Where the bank countered the offer $100k less than the ALL CASH Offer. Are there any other experiences like this out there....Can you guess the Bank?

DiscussionsRepliesLatest Activity

One Property. Two BPOs. One at $59,000. One at $149,900. WTF? Hi folks. If you handle Short Sales then you know the importance of the BPO (Broker price opinion). Lenders heavily rely on the opinion of… Started by you	0	9 seconds ago
Do you show your short sale listings to unrepresented buyers? This point came up in my listing presentation this week. I don't show unrepresented buyers my short sale listing because of: Dual Agency… Started by Abraham Walker	6	7 minutes ago Reply by Bryant Tutas
How do I get a HUD lien for $7500 (2008 loan/grant) off the title on my FHA short sale. I had clients that purchased a home with me in September of 2008. That was when the Government had a $7500 interest free loan with a 15 ye… Started by Tiffany Cloud	7	11 minutes ago Reply by Bryant Tutas
Making too much money to short sale? I have a client who is netting $450,000 on his taxes. His expenses are approximating $700,000. These expenses are not deductible to his… Started by david milstead	7	12 minutes ago Reply by Bryant Tutas
CHASE-ARMS LENGTH TRANSACTION I received a HAFA approval and it has language for arms length transaction...I represent the seller. The buyer is the seller's daughters… Started by Verenice White	5	13 minutes ago Reply by Bryant Tutas
Anyone had a judgement come up on the title seach & got bank to pay it off I am just wondering if anyone has had experience getting the bank to pay off a judgement that has come up against a seller in a short sale?… Started by Team Thayer	9	14 minutes ago Reply by Bryant Tutas
Buyers Agent Asking For Lender to Make Repairs OK. This is a first for me. I have an offer on one of my listings where the buyer's agent has written into the contract that the lender i… Started by Deb Orth	5	16 minutes ago Reply by Bryant Tutas
Selling by SS - are we close? We submitted paperwork through a negotiator in early August. We have a 1st and 2nd with Sovereign. The BPO was done mid August and we hea… Started by Elaine Grace	0	13 hours ago
FHA short Sale with BOA I have an offer in on a listing since 5/5/11 on an FHA loan with BOA. Anyone have a contact that can help me? I have heard every excuse fro… Started by Becky Rainwater	2	19 hours ago Reply by Becky Martin
Hafa short sale, can a seller contribute to the secon lien I know as a FHA borrower we cannot contribute to the second but can the buyer contribute to the second? Thank you Started by Jenn	3	19 hours ago Reply by Jenn

"Short Sale Superstars

Advanced Short Sale Training"

Our goal is to provide you with best ADVANCED Short Sale Training available. We are not teaching you how to take a short sale listing and put a package together for the lender.

**The curriculum for the sessions may be revised slightly. Rest assured - the content will be awesome with your success in mind!

The instructors for Short Sale Superstars Advanced Training are Broker Bryant and Wendy Rulnick......CHECK IT OUT

This site is owned and operated by REGrow, LLC

Wendy Rulnick and

Bryant Tutas

Brokers of Record

A Licensed Florida Real Estate Brokerage

407-873-2747

628 Grand Canal Dr

Poinciana FL 34759

ShortSaleSuperStars@gmail.com

DISCLAIMER

REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.

I am in the process of doing a short sale in tx here  is the problem in TX they have a rule where the property can be sold with out ajudgment,  there is a sale date and i need time to arrangethe short sale .the question who do i go to halt the sale date the bank or the trustee
who in charge of liquidating the property. if i do not stop the sale i will not
have time to do all the steps to get the SS approved Ideas i need ideas how can
i cloud the title, I am in the home  as a
renter and i want the house but not at the amount he owes.

do i get the deed, do i do a subject to, can i do a subject to /short

i need ideas

How should i do this one ?????

We have approval from Wells Fargo the first with them providing 7500.00 of the 34K that is being paid to the second mortgage PNC. Upon submittingthe HUD for final approval Wells Fargo states know that the second mortgage cannot receive these funds even if they are voluntary. I called my Real Estate Attorney and he also said that YES they can contribute if it is voluntary. Does anyone have any infor on this or a resource to direct me to. We are suppose to close on Tuesday.

THANK YOU!

Kim

After a few months of dealing with Ocwen after saxon sold the loan I was told one week ago that Ocwen has all the paperwork and a relationship manager can call my client on october 25th.  The person in india couldn't tell me what the call would be about or what the status of the short sale is.

Is this a good or bad thing and what should i be looking forward to?

any help offered would be greatly appreciated.

Thanks in advance

I understand why a Short Sale Tenant would be mad about the Sale of the home they are leasing is going down.  But..these tenants were advised the entire way through-by phone and certified letters.  I've met them in person to advise as to COE..have even offered to help find them another Rental. 

They are two months behind in rent and this Short Sale is to record on 10/30..we'll have to see how that goes.

Now..onto an Equity Sale.  Tenants had a "lease option to buy".  Have already been to court for Unlawful Detainer.  Details hammered out.  They will get some $ upon move-out..and each day they stay costs them approx. $100 from their unpaid lease amount of $43,000/mo.  They too haven't paid since June 30.  Property in Escrow.  Served Tenants all docs to proceed.  Walkthrough inspection today because contract was written "contingent to interior inspection."  Tenant will be there with their attorney.  Tenant says she wants money, but if that were true..why not pack out and make $100/day MORE?

COE is 11/7.  This is going to be an interesting walkthrough!!

Please...can someone help me out there?  I submitted a complete ss packet to BOA in mid August.  I have called many, many times since then and spoken to numerous supervisors.  I was told September 17th (by a supervisor) that they needed updated bank statements and pay stubs and then they could initiate the ss.  I complied.  All last week was told that everything they needed was uploaded on September 27th but it would take 5-7 business days to initiate.  I call again this morning and am now told that they need MORE updated bank statements and paystubs to initiate.  I don't know where to turn.... 

Wells Fargo- has lien on property that was a secured loan...dismissed / charged off in January. (according to everyone at WF)

first mortgage is current.     sales price satisifes first mortgage....but not the WF   LIEN.....the lien....exceeds the sales price and fmv......the lien is from another SS  the sellers successuflly completed in Jan 2011......WF agreed....closed...

but.....since the property closed in January was CROSS collateralized by current property....they placed lien on it....

however...everyone we talk to says....."charged off in Jan 2011"        but no one will give it to us in writing to release current lein so we can close CASH deal.....HELP!!!!!

Discussions	Replies	Latest Activity
Do we as agents put ourselves at risk by marketing ourselves as something we may not be? I had an interesting conversation with a broker and an attorney recently that has sparked my curiosity. We see marketing everyday where we… Started by Jeff Payne	8	5 seconds ago Reply by Bryant Tutas
Buyer' Agent is related to the buyer~Is this still an Arm's Length? I just received an offer one of my listings and the buyer's agent is the father to one of the buyers. ASC is the lien holder. Just wonderin… Started by Kimberly Azzam	8	45 seconds ago Reply by Bryant Tutas
DO WE HAFA HAFA? BOA AND OTHERS RE-INTERPRET HAFA ELIGIBILITY Pretty much all the agents we work with have done HAFA short sales where the lender first saw the deal when the contract was submitted by t… Started by Richard Zaretsky	9	4 hours ago Reply by Kevin M. Lancaster - Willson
Gmac second lien, any experience with dealing with them? To update you all, we got our letter of approval on our first!! This was a huge hurdle...now we just need approval on second lien with gmac… Started by Jenn	4	11 hours ago Reply by Jenn
Client wanting out of the contract to file bankruptcy I represent a seller on a short sale with a first and second with a possible short window of getting an approval. I called to get another… Started by Lisa Brown	7	16 hours ago Reply by Wendy Rulnick
Bank of America no longer working with LRC I have a HAFA approved short sale that has probably been sitting on someone's desk for over a month. I finally found out that after not get… Started by Judith Sailors	11	20 hours ago Reply by Wilma Hebrank
Bottom line price set by Fed? Or BoA Rules? I have an offer in on a SS. Short story is: * Originally listed for $300k (Oct 2010) * Put in an offer at $250k. Offer accepted by seller *… Started by peter	3	yesterday Reply by Jeff Payne
Credit Card Lien Still There After Seller BK Discharged My client filed BK 7 because of credit card liens. Now it is discharged. And we got a short sale approval from Chase. The creditors will no… Started by Luis Cardozo	4	yesterday Reply by Joe McDermott
Wells Fargo CRAZY Counter Offer My husband and I put in an offer on a short sale that was accepted on July 28th. The couple is in a nasty divorce and have both moved ou… Started by LaDona Lanphere	3	yesterday Reply by LaDona Lanphere
HAFA question for the experts When HAFA first came out, I could have sworn that I read some where that the lender is supposed to give the borrower the HAFA forms, apply,… Started by Liane Jamason	6	yesterday Reply by William F Griffin Jr

"Short Sale Superstars

Advanced Short Sale Training"

Our goal is to provide you with best ADVANCED Short Sale Training available. We are not teaching you how to take a short sale listing and put a package together for the lender.

The instructors for Short Sale Superstars Advanced Training are Broker Bryant and Wendy Rulnick......CHECK IT OUT

This site is owned and operated by REGrow, LLC

Wendy Rulnick and

Bryant Tutas

Brokers of Record

A Licensed Florida Real Estate Brokerage

407-873-2747

628 Grand Canal Dr

Poinciana FL 34759

ShortSaleSuperStars@gmail.com

DISCLAIMER

REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.

Hi folks. There's a new Short Sale incentive just rolled out from Bank of America. Florida homeowners facing a Short Sale may qualify for up to $20,000 short sale incentive from Bank of America.

So.....if you are in Florida, need to do a Short Sale and have a mortgage with Bank of America give me a call today. This offer is for a limited time so don't hesitate. Bank of America is offering to help so take them up on their offer. Any questions?

BofA Enhanced Short Sale

Are you facing foreclosure in Florida?

It would seem that by now the banks would have this system figured out, but alas not yet.

Had a cash offer on my listing, waited 3 months for a HAFA approval from Aurora. Telling them our All Cash buyer for $350K was going to walk if they didn’t move...to approve, wanted one thing after another. Finally we get our approval and the second, credit union, did not want to settle due to the new deficiency law that took affect July 15th. So we lost our cash buyer and Aurora is foreclosing on the house, will not allow us to bring another offer, because they will not postpone the sale date.

Is this how they do it?  They drag it on , make us jump through all the hoops then say no anyway?

I have succefully closed over a dozen Short Sales so far. This one was a hard one to lose...

NEXT?

Interesting that they were last minute listings here in the Palm Springs, CA area.  One in North La Quinta and the other in West Indio..both had Sale Dates set of approx. 21 days out.  Both Sellers had been denied Loan Mods and were at wits end and OVER the banks!

Chase has always been tough for me, but this Short Sale was approved and sale date postponed within 3 weeks!  We are now about 3 weeks from closing which is amazing considering it's a VA loan.  Had to get around the Seller non-allowables, but so far, we're moving to close.

Wells Fargo, on the other hand, has always seemed relatively sane in my Short Sale dealings, so it was no surprise that they pushed their Sale Date back and gave me some time to maneuver my HAFA docs into position.  Just received the approval and we're set to close 11/7. 

Now..as we all know, getting approval letters, HUD-1's corrected, net sheets in order, inspections done, tenants moved, and whatever else can happen during the closing stages, does NOT guarantee a close and a pay check in the Short Sale Ether World.  But..it appears today that things are moving along as well as can be expected.

Focusing on Equity Sales today.  I've got an offer to write!!  Equity Sales are still happening in my area as long as the Seller can list their home for a number that WORKS with the current market. 

I'm listing and closing about 50% equity Sales and 50% Short Sales so we're running neck and neck for 2011. 

Florida Enhanced Short Sale Relo Assistance

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Finally closed my BoA ss today, ok we signed doc`s on Friday but checks finally cut today. Couple of minor issues came up like a expired internal appraisal date and they reduced the attorney fees $500 to $1k that my hard working attorney was not to happy about, but its closed and I am happy with that!

Los Angeles, CA - Chase to buy Bank of America!!!!

After some digging in I've been told by an Attorney who's one of several attorney's working on the buy out/merger of Bank of America with Chase! What I've been told is that out Federal Government has been strategically planning on having Chase buy Bank of America for years now! It's finally coming to life..! I've been waiting off on putting this out there, but when I received an email from Mike Linkenauger, stating that he just received a letter from Bank of America stating that the seller qualifies to receive up to $20,000, I knew it was time to make it public! Chase has been offering relocation assistance to destressed homeowner's for for several months now!

Jennifer is a Real Estate Agent at Qwest Real Estate.

www.JenniferEscobar.com

Los Angeles Short Sale Specialist | Los Angeles Short Sale | When to short sale in Los Angeles | Los Angeles Short Sale Taxes | Why Short Sale in Los Angeles | Los Angeles Short Sale Requirements | Los Angeles Short Sale Guidelines | How does short sale work in Los Angeles | Los Angeles Mortgage Short Sale

Home and condominium sales during August throughout the Santa Clarita Valley rose sharply, posting the third consecutive year-to-year increase, the Southland Regional Association of Realtors reported on Thursday, Sept. 15.

A total of 222 single-family homes changed owners last month, up 19.4 percent from a year ago and 18.7 percent higher than this July. The August total was the best monthly tally since July 2009. Local home sales are up 124.2 percent from the record low set in January 2008.

Condo sales also came in strong with the 94 closed escrows reported during August up 38.2 percent from a year ago and 28.8 percent better than July. An equal number of condo sales were reported in December 2009, but to beat that number requires going back to March 2007. Condo sales are up 203.2 percent from the record low set in January 2008.

“There’s pent-up demand for housing,” said Sal Aranda, president of the Association’s Santa Clarita Valley Division, “but what has stalled some buyers up to this point is economic uncertainty and what, if anything, lawmakers will do to speed recovery of housing.

“Yet the strong August sales numbers speak to the strength of our local community,” he said. “The Santa Clarita Valley is a highly desirable place to live, the local economy is robust, and the communities are welcoming. In the end, those attributes trump uncertainty.”

The median price of homes sold last month came in at $372,500, down 10.2 percent from a year ago and up less than 1 percent from July. Prices have been bouncing along the bottom with the August median up a mere 7.7 percent from the record low, which came in January.

The condominium median price also fell, down 7.0 percent to $200,000, which equals the record low also set this January.

“Combine low prices, low interest rates and the gradual availability of home loans and it’s easy to understand why buyers are more active in the Santa Clarita Valley,” said Jim Link, the Association’s chief executive officer. “There simply are not many communities in Southern California that offer so much while costing so little.”

Pending escrows — a measure of future activity — suggest that this summer’s renaissance will continue. The 393 open escrows at the end of August were up 5.1 percent from a year ago.

A total of 1,115 properties were listed for sale throughout the Valley, down 5.5 percent from a year ago. That is a 3.5-month inventory at the current pace of sales.



The Southland Regional Association of Realtors® is a local trade
association with more than 10,000 members serving the San Fernando and Santa
Clarita Valleys. SRAR is one of the largest local associations in the
nation.

One thing I come across a lot when doing short sales, is that the homeowner is not only behind on their payments and taxes, but also defaulted with the HOA. The bank generally will not pay any money towards the delinquent HOA dues and the buyer, many times, is prohibited from contributing by their lender. That leaves the payment outstanding, even if the short sale is approved, and if the
seller can't pay it, it becomes an issue. In certain cases, we can try and negotiate with the HOA company to reduce the owed amount by removing the late charges and interest, but that can be difficult as well. The bottom line is, if you can't pay your mortgage payments and property taxes, try to keep the HOA current because that will make the entire process much smoother for everyone involved.

Sean Seckar - Realtor
RE/MAX of Santa Clarita
661-644-2945
www.SeanSeckar.com
www.TheSCVShortSaleSpecialist.com
DRE License # 1336429