Comment

Comment by Amy Givoni on August 18, 2011 at 10:32pm

If you want your short sales closed, and don't want to deal with the negotiation yourself, I recommend www.shortsaledepartment.com.  They have been closing my files for four years now.  They've closed everything - including files with a first, a second, a third, hoa liens, roofer liens, IRS liens and files that have been through bankruptcy.  They even had Chase Bank rescind an auction once, so we could proceed with the short sale, which we did, and CLOSED!! 

 

 

Comment by Lonnie Workman on August 17, 2011 at 7:14pm

My approved MetLife short sale was just transferred to Nationstar.  They have agreed to honor the short sale acceptance letter from Metlife (per Metlife).  Today our appraisal came in $5000 short.  Does anyone have experience with Nationstar?  We can't talk to them until at least the 22nd as the files are not yet in their system.

Comment by Angela Alfe on March 22, 2011 at 12:07pm

Phyllis, we go to the buyer and see if they are willing to bring cash to close.  If it's the MI buyout, you can guarantee that if they are not paid, then they will not approve.  We tell our buyers to be ready to bring cash to close before we ever accept their offer...so they are ready for this.  Hope you got it closed!

Comment by Phyllis Currie on January 17, 2011 at 6:51pm

I am trying to work with LBPS....  before they will present our offer to the investor, they want the seller to commit to 100 oper month for 79 months ($7900.00) for mortgage insurance settlement, or $3500.00 in cash at closing.. The seller has no money....any ideas?

Comment by Rosario Vega on June 23, 2010 at 8:24pm

Lisa, I think your negotiator is somewhere out there with my negotiator!! She is also really bad, I send her message after message and no reply, not even a message asking me to stop bugging her!!! This file has been with equator since March and was previously with Titanium Solutions (they are worst), going on 8 months!!! They accepted our counter, all I need is full approval from investor and MI company and still nothing. Cash offer (funds waiting in escrow, all we need is an approval letter)!!!!

Comment by Lisa Allen, CDPE, SFR, CSSG on June 23, 2010 at 1:03pm

I've emailed ALL parties in Equator and via phone to the short sale department. I also escalated via the CEO's office (Executive Escalation) which is the highest priority escalation...still nothing.

Comment by Angela Alfe on June 23, 2010 at 12:26pm

How are you escalating these files? Are you emailing all parties in BOA Equator?

Comment by Lisa Allen, CDPE, SFR, CSSG on June 23, 2010 at 11:48am

I have a BOA short sale in Equator since March 8th, 2010. Supposedly sent to Freddie MAC for approval on May 13th, 2010. Still have not heard a thing from BOA. I've called EVERYDAY since June 2nd. I've done 6 Escalations and now 2 CEO Escalations. No word from the Negotiator since May 13th! I just called Freddie Mac and they said that all responsibility for approval has been given to BOA on this file. What?!?! What is going on with BOA here? Is my negotiator sick, on vacation or even worse...dead?!?! Any suggestions?

Comment by Angela Alfe on June 23, 2010 at 11:27am

The only thing that I would suggest is to wait until the BPO falls out in 90 days. If your buyer is willing to wait...if not, then I would suggest pulling every single comp and sending it (75 pages? Who cares!) along with a listing history showing the length of time it was on the market and the price that it was listed at and for how long.

And, I would tell the buyer to go ahead and order an appraisal...it certainly won't hurt.

Comment by Michael Baker on June 23, 2010 at 9:51am

Was just declined on a Short Sale with Chase. Citing valuation from a recent BPO. Property has been on the market 2.5 years, three offers only ($500,000 - $550,000) and BPO used a commercial property and a property nearly 5 miles from the subject to arrive at a price equal to the current asking price ($795,000) I have been unsuccessful in getting them to reconsider the BPO, buyer has even offered to pay the cost of a full appraisal. If it were worth $795,000 somebody would have offered that in the past 6 months? Buyer very frustrated that it took 2.5 months to get where we are. Any advice is greatly appreciated.

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