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This Week's Popular Short Sale Discussions

Mortgage Assigned to Fannie Mae. How do I initiate a short sale? My client is hoping to short sell her home.  In conducting the research I found that her mortgage was assigned by her lender - Amnet Mortga... Started by Tom Murphy	5	1 minute ago Reply by Bryant Tutas
Question on how to remove a seller's judgment from a short sale house in contract Hello, we are in contract to purchase a single home which is in short sale. The seller, and both lenders have approved the sale. We have or... Started by Marta Phillips	5	6 minutes ago Reply by Bryant Tutas
Application to Condo Association I am curious about members experience in how they handle application to an association when lender approval is still pending. In Florida, a... Started by Liz Kenneally	3	11 hours ago Reply by Lillian Blessing
FREE HUD 1 Generator??? are there are free HUD 1 generators or trials out there that you know of? Started by Souzan M	2	13 hours ago Reply by Tom Schoenbeck
NATIONSTAR WAIVER OF DEFICIENCY? I was told yesterday by my negotiator that Nationstar does not waive deficiency and that I need to address with them after the short sale c... Started by Robin Choi	0	18 hours ago
Realtors collecting fees for negotiating short sales. I have previously seen legislation stating that a Realtor could not collect a fee for negotiating a short sale, nor could he collect extra... Started by Wendy Rosenberg	31	18 hours ago Reply by Gail Oleaga
2 Lien PNC Wins Again -Short Sale DEAD Our short sale has reached it's bitter end. After 150 days (that's 6 months!) of riding the short sale roller coaster blind folded, we've c... Started by Sharon Stine	4	18 hours ago Reply by Sharon Stine
Help with large HELOC payoff with Wells Fargo Just got our first $ Million listing here in CA, but it's anti-climatic as the lenders are Wells and Wells HELOC. I need help from the grou... Started by Erik Larson	3	19 hours ago Reply by Erik Larson
Tax lIens I am the buyer on a short sale...6 months in we find out the seller has state and federal tax liens against the property. The house is in O... Started by Kristen tateosian	12	21 hours ago Reply by Kimberley Kelly
BPO COMPLETED 2 weeks after offer was submitted Location Pismo Beach, California I recently sold our house in order to move to a better neighborhood for my young family. Placed an offer... Started by Simon Kurth	5	21 hours ago Reply by Kimberley Kelly

Short Sale Superstars is owned and operated by REGrow, LLC

A Licensed Florida Real Estate Brokerage

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

Bank of America has a couple of new and updated news releases they just sent out..

1.  Bank of America Second Lien Release Guidelines: New and enhanced guidelines for Agents handling prperties with second liens on them.

• The Short Sale must be initiated on or after June 1, 2012.
• The Second must be attached to the First lien mortgage owned by B of A.

This Waiver Enhancement is based on the Department of Justice settlement and went into effect June 1, 2012.

2.  HAFA short sale update:  These enhanced HAFA guidelines went into effect 6/1/2012 and apply to current HAFA Short Sales.  The program has been extended to 12/31/2013.  If you write a contract 12/31/2013, it must close no later than September 30/2014.

• Second lien release amount raised from $6,000 to $8,500
• Relocation fee ($3,000) is paid ONLY to primary Residents
• Home can now be occupied by Tenants or relatives and still qualify for HAFA.  Tenants or occupants must vacate by Close of Escrow.

Great additions to Bank of America Short Sale programs.  For more information, give me a call at 760-285-3578 or go to www.kimberleyjoykelly.com 

7 Reasons to Avoid a Foreclosure

Families who typically end up foreclosing on their home often didn’t understand the foreclosure process or simply just gave up because they no longer cared or could handle the stress. The foreclosure process is typically an emotional rollercoaster and it’s not uncommon for us to hear they simply wanted to “wash their hands of the headache”. In situations like this, we urge homeowners to become aware of their options and really understand what a foreclosure means.

We’re prepared a quick list of foreclosure consequences that will help you understand exactly what a foreclosure means.

1)      If your property forecloses, you will be required to disclose this on all future mortgage applications, and on many job applications. This can have an adverse effect on your future mortgage rates.

2)      According to Fair Isaac Corporation, credit scores will be lowered by 300 or more points. A foreclosure is considered the most devastating credit issue in relation to future credit availability and if coupled with bankruptcy can be very hard to recover from.

3)      A foreclosure is very difficult if not impossible to have “repaired” on your credit report.

4)      It could open up the possibility for your mortgage lender to seek a deficiency judgment and attempt to collect the difference not accounted for from the sale of the home.

5)      A foreclosure can put a new job in jeopardy, as many employers are now running credit checks on potential hires.

6)      A current job could be in jeopardy. There are many employers who run credit checks annually to make sure employees are not underwater in their finances.

7)      Government jobs can be jeopardized with a foreclosure showing on a credit report, especially those with security clearances.

With these points in mind, if you find yourself underwater and unable to make a mortgage payment, it’s important to seek out options. One option that will allow you to still exit the home is called a short sale.  A short sale is often the better route and provides a more favorable outcome for both you and your mortgage company. The ability to find experienced short sale team with a proven successful track record will help you protect yourself from a diminished credit score and the possibility of losing employment opportunities.

We are here to help – call us today – 888-746-7820. 

www.shortsaleapprovals.com

Two Loans with Two Lenders:  Short Sale Closed with Bank of America & Greentree Servicing

This was a pretty difficult short sale, but we got it closed. Short sales with two different lenders can be tricky and time consuming.  Often they have different or unique documentation requirements.  Some lenders, such as Greentree Servicingrequire that their own forms be used, so the homeowner can be required to submit their financial information on two forms and in two different formats.  Also some lenders, when they have a junior lien, will refuse to process the short sale until approval from the senior lien holder is received.  And, then they often regard the amount offered from the 1st short sale lender as the first step in negotiation.  Of course, if additional sums are requested by the 2nd short sale lender, it requires a complete re-approval from the 1st short sale lender.  Greentree Servicing operates that way (they wait to process) and their processing is slow in addition to it all (30-45 days) which makes them one of the most difficult short sale lenders.  You are often chasing your tail on Greentree short sales.

One thing is for sure, short sales with two loans and two different lenders require a committed buyer and seller and a determined short sale agent.

Before deciding whether to short sell your home, it is essential that you obtain legal and tax advice, and consult with an experienced local short sale agent. If you are considering a short sale of yourSanta Maria, Orcutt, or Nipomo home and would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.

Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She is a Certified Distressed Property Expert (CDPE), Short Sale and Foreclosure Resource (SFR) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.

* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement.

Copyright© 2012 Tni LeBlanc *Two Loans with Two Lenders:  Short Sale Closed with Bank of America & Greentree Servicing*

Equator & Short Sales

You are probably wondering, what isEquator and how does it affect your short sale?  Equator is a web based computer portal/platform that allows your short sale agent to communicate and process your short sale in an efficient and secure fashion across the web.  Most of the major lenders, including Bank of America, Wells Fargo & GMAC (with the notable exception ofCHASE) are now using this technology, although some are making better use of it than others.

Either the short sale lender or the short sale agent will initiate a short sale in Equator and then complete a series of tasks or steps.  Usually the first will be a validation of the Agent’s authority to receive and convey information on behalf of the homeowner.  Some short sale lenders (including Bank of America) have their own specific form that the homeowner must sign, and often they will also want a copy of the listing agreement in place between the real estate agent and home owner.

After the short sale agent’s identity and authority is properly validated, most lenders will then move on to offer submission and/or a valuation of the subject property.  They will do this either through an appraisal or a BPO (Broker Price Opinion) and the Equator status will usually read “BPO ordered” or “Valuations.”  After the valuation is received by the lender, the buyer’s identity validated, and the offer reviewed, many short sale lenders will issue a counter offer  or response through a “worksheet” on the Equator system.

The short sale lender can also communicate with the agent through secure messages in the Equator system.  Once the parties have completed price negotiations, the short sale approval letter will often be sent in the secure Equator system.  And, once the transaction is underway, preliminary and final closing statements will often be submitted for review to the lender through Equator.

As a short sale agent, I do like the Equator system, although it has it’s downfalls.  It has cut down tremendously on the “we never received that fax” dance that is so common, and still goes on with many lenders.  For example, when you call Bank of America’s short sale customer service line, the customer service representative can view the Equator file, so they know exactly where you are in processing, the messages sent and the documents submitted.  Overall, I think Equator based short sales run a lot smoother and at a quicker pace when you are dealing with a large institution.  Before deciding whether to short sell your home, it is essential that you obtain legal and tax advice, and consult with an experienced local short sale agent.

If you are considering a short sale of your Santa Maria, Orcutt, or Nipomo home and would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.

Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She is a Certified Distressed Property Expert (CDPE), Short Sale and Foreclosure Resource (SFR) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.

* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement.

Copyright© 2012 Tni LeBlanc *Equator & Short Sales*

In California, a Notice of Default will typically be filed by the lender after the third missed payment.  Once a Notice of Default is filed, the lender has begun the formal process of foreclosure.  Three months after a Notice of Default is filed, the lender may file a Notice of Trustee’s Sale setting a foreclosure sale date.  The Notice of Trustee’s Sale can be posted 21 days before the foreclosure auction sale date.  So, in California, once a Notice of Default is filed, the foreclosure process can be concluded in just under 4 months.

One of the biggest mistakes I see homeowners indefault make is ignoring a Notice of Default, or minimizing its importance.  If a lender has no plans to foreclose on a property, they clearly do not have to file a Notice of Default.  Indeed, I have completed short sales where payments have not been made for months or even years and no Notice of Default was ever filed by the lender.  However, I’ve found that in most instances, if they can file one, they will.  And if the lender takes the trouble to file a Notice of Default, they are clearly reserving their right to foreclose on the property, and that has significance.

The typical scenario I encounter is where the homeowner is in the process of applying for or negotiating a loan modification and the lender files a Notice of Default.  The homeowner for the most part ignores the notice believing that the loan modification will resolve the issue.   The negotiations stretch on for months more and the homeowner is lulled into a false sense of normalcy about their situation.  Then, one day a Notice of Trustee’s Sale is posted on their door.  Now the homeowner may have just under three weeks to come up with a new plan.  Worse yet, the homeowner may get accustomed to requesting extensions of the foreclosure auction date, and then one day (probably a week or so before the new auction date) they realize they aren’t getting another extension and the rug is pulled out from under them.

Clearly, once a Notice of Trustee’s Sale is posted, the homeowner is living on borrowed time and it may indeed be too late for a short sale of their property.  Indeed, I have had lenders deny homeowners entry into the HAFA short sale program after a Notice of Trustee’s Sale is filed, and also been told that certain investors will not consider a short sale if the file is within 30 days of a scheduled foreclosure sale.  And, I continue to see short sales fail for that reason — there is simply not enough time by the time the homeowner contacts a short sale agent. If you have received a Notice of Defaultand you are serious about a short sale of your home vs. a foreclosure, clearly you should begin your research about that process sooner rather than later.  A Notice of Default begins your foreclosure time clock, and you should take it seriously.  Once you receive a Notice of Default, if you have not already, you should immediately take action and seek the advice of legal and tax professionals to determine your best course of action, whether that be foreclosure, short sale, deed in lieu foreclosure, bankruptcy, etc.

Before deciding whether to short sell your home, it is essential that you obtain legal and tax advice, and consult with an experienced local short sale agent. If you are considering a short sale of yourSanta Maria, Orcutt, or Nipomo home and would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.

Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She is a Certified Distressed Property Expert (CDPE), Short Sale and Foreclosure Resource (SFR) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.

* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement.

Copyright© 2012 Tni LeBlanc *Short Sale vs. Foreclosure:  The Notice of Default*

Atlantic Coast Title Group is South Florida's Premier Title & Short Sale Processing Company, Located in Jupiter Florida. 

Why choose ACTG for getting your short sale approved? 

Most short sale processing companies have 100-150 files per processor and many companies have multiple personnel working in each file. This leads to in efficiencies, miss communications, and delay's in getting short sales approved. 

At ACTG we have one highly experienced individual handle the file from start to finish. This allows for greater efficiency and faster approvals. 

The negotiators tend to react better when you respond quickly to their request. Waiting days or weeks to upload documents or answer questions is a sure way to place the negotiator into a complacent attitude which slows down the desired result of a approval. 

At ACTG we have the ability to review each file daily! This allows us to keep the negotiator on task and moving forward without having to stop and start and the end result of our system is faster approval!

Considering buyers walk from short sales due to a lack of activity and by allowing us to get approval faster the likelihood of a successful close is greater with our proven system

Learn More Here

5 Fun Facts About Fannie Mae Short Sales

Is there anything fun about short sales?  Well probably not a lot.  But certainly, they are more fun when they are approved quickly.  Some of my favorite short sales have been on Fannie Mae loans.  I’ve had a Fannie Mae streamlined short sale with Bank of America that was approved in 22 days with a seller incentive paid and no financial documents required.  And my best CHASE short sale to date was on a Fannie Mae file.  I’ve also received prompt approvals on Fannie Mae short sales serviced by Rabobank, Seterus, and Wells Fargo.  The key difference between a Fannie Mae short sale and a short sale with a different investor is that Fannie Mae demands accountability and responsiveness from servicers when processing their short sale files, and that makes Fannie Mae short sales more fun than your average short sale. Here are 5 Fun Facts About Fannie Mae Short Sales:

1. Fannie Mae Loan Look Up Tool - Unlike other short sales where determining who the investor is can be a challenge, Fannie Mae makes it easy and with their Loan Look Up Tool which is right on the web.  Your loan may be serviced by Wells Fargo, Nationstar or Bank of America, but the identiity of the investor is often difficult information to obtain quickly.  However, Fannie Mae makes this information easily accessible.

2. Fannie Mae Resource Center - Yes, Fannie Mae has a resource center help desk!  And, they are helpful!  I’ve called several times and also directed clients to call over servicer related issues, and we received quick responses and results!   And in addition to the consumer Resource Center, Fannie Mae rolled out the Fannie Mae Short Sale Assistance Desk for cooperating MLSs so that real estate agents can have even more direct access to them on their short sale files.

3. 30 Day Response Time. That’s right, Fannie Mae does not believe in a never ending short sale approval cycle.  On April 25, 2012, they issued new guidelines for servicers that require that a response be issued within 30 days of receipt of a complete short sale application.  That response can be a counter offer, a notification that the file is still under review, an approval, or an approval with conditions.  But it requires a RESPONSE of some kind within 30 days.
4. Fannie Mae will pay 6% commission to your short sale agent. There is no guessing game with regard to agent commission on Fannie Mae short sales.  They will allow your real estate agent to be paid up to 6% commission as a part of the transaction.  No arguing, fussing and fighting about it.  It is a published guideline that servicers must follow and they do not allow them to negotiate the fee below 6%.

5. Fannie Mae has a formula for paying second mortgages.  Fannie Mae will pay a second lien holder 6% of their unpaid balance (up to a maximum of $6000) to participate in the short sale.  Because these guidelines are published and well known it makes the negotiation process with second fairly easy where Fannie Mae owns the first mortgage.  Once you prove to the second lien holder that Fannie Mae owns the first mortgage, they know exactly how much they will receive if they accept the short sale.  They either will or they won’t, and my experience says most will.

Before deciding whether to short sell your home, it is essential that you obtain legal and tax advice, and consult with an experienced local short sale agent. If you are considering a short sale of your Santa Maria, Orcutt, or Nipomo home and would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.

Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She is a Certified Distressed Property Expert (CDPE), Short Sale and Foreclosure Resource (SFR) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.

* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement.

Copyright© 2012 Tni LeBlanc *5 Fun Facts About Fannie Mae Short Sales*

Two Lenders – Bank of America and GMAC – Another Successfully Closed Short Sale!

This BofA and GMAC short sale took about 67 days for short sale approval.  It could have been a lot quicker but there were a few bumps in the road.  The first loan was owned byFreddie Mac.  I tried to make the servicer for the first loan, Bank of America, aware that Freddie Mac was using a new version of their standard short sale affidavit.  However, BofA refused to let us use the new addendum, and then weeks later after all four parties, two agents, and escrow agent notarized the first addendum, they asked us to notarize the new one.  <sigh>.   GMAC was very good at processing the file, although there was a bit of a debate about Freddie Mac guidelines, which amounted to about $300 of a discrepancy.  This also took time to resolve.  GMAC did process the file right away, and in fact their approval arrived long before BofA’s.  In my experience, Bank of America short sales now take about 45 days for approval, so the fact that there were two lenders may have added about 3 weeks to total approval time.  However, it is more likely that BofA’s Freddie Mac short sale affidavit error added that time to approval.  Nonetheless, persistence pays and it was approved and successfully closed! 

Those considering a short sale of their property should obtain legal and tax advice, and also consult with an experienced local short sale agent.  If you are considering a short sale of your Santa Maria, Orcutt, or Nipomo home and would like a no cost short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.

Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent.  She is a  Certified Distressed Property Expert (CDPE), Short Sale and Foreclosure Resource(SFR), and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.

* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Any and all program benefits described are subject to change. Copyright© 2012 Tni LeBlanc *Two Lenders – Bank of America and GMAC – Another Successfully Closed Short Sale!*

Ihave a property near me that I would like to try to buy but would like to have a short sale specialist's help.

Mia can you contact me at bcheaven@bellsouth.net, thanks. Otis.

Hello,

Can you please forward me a copy of the Key Bank Short Sale Package?

Thanks so much!

Dee Psarros

602.486.5363

Dee@SellingAZRealEstate.com

Do you have a client walking the fine line between foreclosure and a short sale? They may have several questions regarding their predicament that you might not know the best way to answer. The good news is that’s what we are here for! We have compiled a few key points that should be made to a wavering client regarding their decision to short sale or not.

First, let’s start with the definition of a short sale:

In simple terms, a short sale is a graceful exit from an underwater mortgage. The lender will agree to sell the home for less than what is owed on the mortgage.

Secondly, what are the perceived advantages of a short sale?

1. Credit - If a homeowner decides to short sale instead of foreclose, they can become a homeowner again far quicker.  In fact, updated Fannie Mae guidelines assist homeowners in qualifying for loans just 2 years after their short sale. If a foreclosure is on record, it could take as long as 7 years to purchase again.
2. Short sellers could obtain additional time in the property - During a short sale, the homeowner could have more time to plan for what’s to come. Since the average short sale takes between 60-90 days, there isn’t a rush to immediately find a new residence. With a foreclosure, you could have as little as 30 days.
3. Short Sale Cash at closing / Relocation Assistance – There are many updated government short sale programs available and designed to assist the homeowner in need. Bank of America has recently begun to offer pre-approved homeowners up to $30,000 in assistance. We’ve also had Chase and CITI offer homeowners $12,000 - $30,000 as a cash incentive to the homeowner short selling their property. There is also the HAFA (Home Affordable Foreclosure Alternatives) program that is there to assist qualified homeowners with a relocation assistance of up to $3,000.
4. Mortgage Debt Forgiveness Act– There is the Debt Forgiveness Act of 2007 which may forgive the homeowners of paying the taxes associated with the cancelled debt of selling the property short. This is a question for a Certified Public Accountant.  Click here to see the Mortgage Debt Relief Act of 2007 as described by the Internal Revenue Service (IRS)

Lastly, what could be the perceived disadvantages of a short sale?

1. Credit - If a homeowner decides to take the route of a short sale, their credit score may be impacted due to the late mortgage payments and/or the reporting of the account being paid in less than full. However, it typically won’t be impacted nearly as much as a foreclosure.
2. Mortgage Debt Tax Liability – The seller may be responsible for additional taxes if they choose to short sell. If the lender agrees to the short sale, there may be a liability to pay taxes on the debt forgiven. It is important to speak with a tax attorney or professional regarding this matter.
3. Deficiency Judgments - In some states, the lender may be able to come after the homeowner for the deficiency amount.  In the state of California, for instance, there are Senate Bills that protect California homeowners who decide to short sale their property.  (Senate Bill 931 and Senate Bill 458). Again, it is important to speak with a tax attorney or professional regarding this matter.

At Short Sale Experts INC, we can answer these questions (minus the specific legal or tax questions) plus many more! We are here to help – our name says it all!

888-SHORT-20

Four months ago, I sold and close a condo owned by Fannie Mae-the buyer called me asking if she has ground to file a complaint against the selleer- who made her sign a disclaimer property sold "as is"

According to the buyer, she discovered the house was burnt and was rebuilt and put in the market, but she is now found out the floors was covered up by new carpets was all burnt wood underneth.  She first suspected it when after a month she start seeing black soot coming out of the carpets, probably sucked up by vacuum cleaner and now the buyer smell burnt in the closets and in the kitchen. 

They decided to look under the carpets and discovered the burnt wood- all black and damaged was covered by new carpeting.

Is there any grounds of filing a misrepresentation or fraud in this situatuon?

Please advise.

This Week's Popular Discussions

Discussions	Replies	Latest Activity
Realtors collecting fees for negotiating short sales. I have previously seen legislation stating that a Realtor could not collect a fee for negotiating a short sale, nor could he collect extra… Started by Wendy Rosenberg	8	5 seconds ago Reply by Bryant Tutas
Can mediation with attorneys from bank give you approval on the spot? I have two short sale listings and seller has an attorney, who advised her about doing a short sale on both properties. Does anyone know ab… Started by Carolina Gerdts	2	57 seconds ago Reply by Bryant Tutas
Should lender's closing instruction letter contain an explicit deficiency waiver? I'm about to close on my Chase short sale on June 7. Just got the lender's final closing instructions letter. Unlike the "conditional/preli… Started by Mark M.	3	2 minutes ago Reply by Bryant Tutas
Fannie Mae won't negotiate with us Seller here in the middle of a short sale. We have the approval to proceed but we cannot get the deficiency waived and we are getting the… Started by Melissa Taylor	5	2 minutes ago Reply by Bryant Tutas
Can Secondary Lender Take Relocation Assistance Funds? For my short sale, I'm approved for the $3,000 relocation assistance from my primary lender. I'm considering waiving the relo $$$ to keep… Started by JSav	2	3 minutes ago Reply by Bryant Tutas
HAFA Incentive being removed after 5 months w BOA Been working with BOA to get a HAFA file approved since 10/2011, 2nd offer 3/2012. There were many delays with the previous file due to no… Started by Jeanine Whitehead	2	4 minutes ago Reply by Bryant Tutas
Buyer appraisal $30k under offer - what are our options? Need some advice / suggestions - once again! We are the buyer on a SS - 180 days in as of today and still waiting for approval. We went a… Started by Tamara Vannest	8	4 minutes ago Reply by Bryant Tutas
Seller wants to accept a different offer. I have a situation where the seller has accepted a offer. Another agent has brought in a offer that is not as good as the first. The sell… Started by Susan Walski	5	6 minutes ago Reply by Bryant Tutas
Co op Short Sale with B of A now stalled in their "legal" department I'm a seller who is soooo frustrated with Bank of America. After a year and a half of trying to negotiate a modification, and my finally g… Started by Taunya Crilly	7	8 minutes ago Reply by Bryant Tutas
Coop Short Sale with BOA closed with a last minute surprise... Just had a Coop BOA close yesterday in Durham North Carolina . The seller incentive was $2500.00 and we were set to close at 2pm. I receive… Started by Julian Jahoo CDPE, SFR, ABR	2	9 minutes ago Reply by Bryant Tutas

Short Sale Superstars is owned and operated by REGrow, LLC

A Licensed Florida Real Estate Brokerage

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

Another La Quinta Short Sale listed, negotiated and CLOSED!  Cute as a button 3bd/2ba single family in the La Quinta Cove.  Seller paid $318,000 in 2006, then added granite counter tops, 18 by 18 ceramic tiles floors with hardwood floors in the bedrooms and even a custom fireplace mantle!  One note with Carrington Mortgage and SOLD for $135,000. 

Listed February 17, 2012.  Offer submitted March 15, 2012.  Approved April, 2012 and Closed 6/7.   Buyer used a conventional loan with 20% down and the loan took 45 days to fund/record.

Borrower relocated to start fresh.  Buyer is thrilled!

If you are thinking of shorting  your property in the Palm Springs Valley including Rancho Mirage, Indian Wells, Palm Desert or La Quinta, give me a call at 760-285-3578.  I'm certified, offer 5 years of experience with most Lenders, and references are provided upon request.  Free and discreet consultations of course!

I have a short sale approved with Bank of America here in Maine and the title attorney noticed the judgement period lapsed 2 yrs ago, but the foreclosure was put on hold due to the affidavit review. Now we are in need of a Waiver of Foreclosure, as the seller isnt technically a vested owner, I have submitted this to BOA and am waiting on them to sign off on it. We're getting a little nervous as its been over 2 weeks now.....Anyone experience this before? What is the likelihood they refuse to sign it? It would not make sense as they have approved the sale and this wouldnt jeopardize their position?

We've been working on a shortsale since March.  This is a $50,000 sale that they have countered and it is now at

$55,000.  We have been going back and forth and since the Buyer is a LLC, they have made several changes regarding the signing of the participant of the LLC. We are hoping that they have finally gotten this on the right track and approve it already.  This one has taken longer than expected. I tend to think the negotiator doesn't have the experience to really move it forward.  Hoping he surprises me.

Sharon Glick ABR., e-PRO

Realty ONE Group

7975 N. Hayden Road  #A101

Scottsdale, AZ  85258

Cell:  602-908-0725

Email:  Sharong75@cox.net

Good morning All!

We sent a contract on our listing to M & I and they demanded that the commission be reduced to 4% total, due to property price being over a Million, Can anyone help us please to what we should do to get the 6% ?

is this the norm and can they get away with it even if we argue and fight it

Thank you so much