I couldn't find much on this site about RTR but approval on both with no deficiency and RTR wanted $1070 at closing.  Homeowner has nothing, so both the buyer and I are splitting 1/2.  I'm happy to do it.  This was a long one, but I'm finally happy to see it come together.  We are closing in 3 weeks!!!  YAHOOO.

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Smitty,

I'm dealing with RTR now, things not going so well here. Seller has one investment property and they want her to agree to pay money in order for them to release the lien and deficiency judgment. Financially, they have nothing and can't afford it. I'm working on my 2nd negotiator with the same results. My next step is a Deed in Lieu.

Any advice??
Hi Kimberly,

I've heard horror stories about RTR. We were given a 20 days closing window and my buyer is cash so it wasn't an issue, but we JUST found out from the closing attorney the property has THREE title issues, two of which are unrecorded releases, so now is the fun part of asking for the extension. I'll let you know how it goes, but my property doesn't qualify for financing. It's a total gut job and I think that's why we had an easier time with RTR. Homeowner had to pay the $1070, but the buyer and I were happy to split the clost.

AHMSI didn't charge a 1% fee on this either and I think it's because again, it's a gut job. No one but a rehabber would want this property.

I would just outline as clearly as possible the seller has NOTHING and show it to them. It's sad but I see so many people with investment properties not getting the deficiency language removed, but it can be done. Keep pushing. Maybe have their accountant write a note up that they have nothing and cannot pay. It's sad because so many of these second homes and investment properties aren't from big time investors, but just a mom and pop that wanted to take a stab at it.

Keep pushing.

I'm dealing with RTR on a Short Sale right now and they are the second trust.  They are demanding an additional $12K in order to approve.  Meanwhile, the first trust gave them a 10% payoff of $8K.  I am at my wit's end.  The Buyer's Agent and I are putting in 1% of our commission to give them something, but if they don't take this, the client will go to foreclosure and RTR will get nothing. 

 

Why some banks are so stubborn, I will never understand.

Chris Ann. What did you finally do? I NEED to know.

 

RTR 2nd is killing a BofA HAFA short sale for me with a $45K cash demand. BofA has approved the short and offered RTR $6K, but they are refusing to release their lien. I'm sure they are holding out for some of the commission. An RTR supervisor practically said as much to the seller today.  If I gave it to them, how would that be handled on the HUD1? It is HAFA, so the payoff to the 2nd is maxed out according to HAFA guidelines, isn't it?

 

This property is going to foreclosue on June 7 if I can't figure this out in the next few days

 

Please help!.

 

 

I have a transaction with a Chase first and a BoA second (non-purchase).  Equator rejected the BofA loan number as invalid.  The BofA helpline found the loan number but it couldn't go through the equator system and my seller needed to call them.

We now found out that BofA has sold the loan to Realtime Resolutions.  The package is just being looked at but I thought I would post to revive this thread and ask for any ideas and what to expect.  I've seen plenty of bad stories with RTR as hard to work with etc.  Does anyone have good contact info for someone there with a clue?

Thanks in advance for any help available.

 

 

RTR is killing my deal. They want 30K for their second lien after buying it from Aurora loan. Any thoughts? Does anyone know who I can speak to? Supervisor? CEO...I would appreciate any help.

Hi Hugo,

I am having the same problem with them. With whom did you end up speaking? The negotiator to whom I was assigned will not let me speak to a supervisor, nor will anyone else in the short-sale department.

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