Replies to This Discussion

Permalink Reply by Steven Pawera on February 5, 2012 at 4:17am

Sherri,

I think that is absolutely adorable, that you'd like to 'offer some solutions'.  And while I have a mean streak a mile wide, and a notoriously cynical sense of humor, I mean this question with complete respect and sincerity: how long have you been doing short sales?  Because the lenders know how and what to fix.  They just don't want to.

All the best,

Steve

Permalink Reply by Holmes Team on April 9, 2012 at 4:06pm

THANK YOU Steven for giving me the best laugh of the week....so true but so funny you are!

Permalink Reply by Steven Pawera on April 10, 2012 at 2:53am

Team Holmes??  reminds me of an oldy but goody..

What did the Mexican say to the house when it fell on him?

"Get off me holmes'.

Well I hope it's as funny elsewhere as it is here in Southern Cali. :)

Permalink Reply by Janet Fuller CDPE, HRC, ABR on February 7, 2012 at 12:11pm

I have 2 DTS short sales, the first successfully closed, it was a challenge, still need Equator, now I am working with a different company but still a DTS short sale...You have to email offer, etc...then wait for equator, I love the no financials and fast track....Let's hope you can find someone to offer the solutions!

Permalink Reply by Andrea Cruz on February 16, 2012 at 2:06pm

How did you get signed up with DTS. Id like to get some of these shortsales in my area also.

Permalink Reply by Frank Burke on March 6, 2012 at 10:06am

Hi Janet

 

          Our You a RE Max agent, Id love to talk to you about DTS ,Our office just joined ReMax and they had ask me to join, Hope to here from you.

Permalink Reply by Janet Fuller CDPE, HRC, ABR on March 6, 2012 at 12:50pm

call me anytime - 386-236-0751

Permalink Reply by Pamela Bellah on February 26, 2012 at 7:43pm

May I ask if there is a particular benefit in using DTS? Is it the implied case that since the seller needn't provide any paperwork for the approval, that there in no financial hardship requirement? Finally, are all short sales involving BOA liens required to use DTS?  Thank you in advance. I am happy to share my own experiences to benefit others.

Permalink Reply by Janet Fuller CDPE, HRC, ABR on February 26, 2012 at 8:35pm

The benefit to DTS is it is suppose to  be a fast track, however this most recent experience is not so great - however it is wtih amorecoveries not DTS.....DTS requires training to be able to take these  - but you may be able to go to DTS if the homeowner qualifies - usually after getting denied for HAMP - so be sure to ask your seller if they tried to qualify for HAMP then HAFA

Permalink Reply by Pamela Bellah on February 26, 2012 at 9:34pm

What requirements are there for a homeowner to qualify? Do you know? Thank you.

 

Permalink Reply by Frank Burke on March 6, 2012 at 10:09am

Hi Sherri

 

                Are you a RE Max agent? Our office just joined and they had ask me to join DTS Can you offer Advice :)

                                                       Thank You

 

                                                        Frank

Permalink Reply by Andy Stetz on March 17, 2012 at 11:12am

I submitted a property to BOA via Equator knowing that my client would be requested to contact BOA for a modification.  The client was denied a modification approximately a year ago. The file was assigned to DTS and last week they were quickly denied a modification. The client has an 80/20 with a 50 year on the first at 9.6% and the 2nd is a 30 year at 12.8%. (wow! someone saw them coming like lambs to a slaughter).They are upside down. I thought that one of the provisions in the 25 billion dollar settlement was to help people like this to get into a modification.  It appears that BOA/DTS is more interested in seeing the home short sale or DIL than to help a homeowner. I agree with you Steve, I don't think they are interested in fixing anything. I feel they have some great master plan(designed to only benefit them) and we are not privy to that plan. If a lender can afford to write a loan at 4% today, they should be able to modify an 80/20 as I have described and write it at 4% and save a homeowner from losing their home. Both the husband and wife are employed, have a median family income for this area, and my review of their financials show they should qualify for a modification. But what do I know. I am no financial wizard working for some huge conglomerate. I am only one realtor trying to save one home owner from disaster. I hope a law is passed where a loan cannot be sold without the approval of the homeowner. I think a homeowner should be able to choose the company they wish to do business with. I know the big 5 wouldn't be on my list.

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