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Suntrust Insurance Dept on 2nd asks for MORE!!
Started Jan 4, 2011 0 Replies 0 Likes
We have been negotiating and the bank (both liens are with Suntrust) came to us and said they had to get a certain net to the first and the 2nd was getting 11,300. The buyer came up on their offer…Continue
Foreclosure notice!
Started this discussion. Last reply by Cindy Gillies May 22, 2010. 2 Replies 0 Likes
We have been working this file for 3 months, BOA is the first and Wachovia the 2nd. We got a counter from boa last week and responded with buyer accepting all terms. We have not gotten a response yet…Continue
No response from Equator!
Started this discussion. Last reply by Esperanza Adams Jul 1, 2010. 1 Reply 0 Likes
We have submitted our counter offer and uploaded all documents as requested. We have emailed asking for a response with no luck. The owner has recieved a foreclosure letter and the buyer is getting…Continue
Equator Short Sales System - Need to resubmit offer immediately
Started Apr 5, 2010 0 Replies 0 Likes
Hello. We have submitted a new offer through equator, however, somehow it was entered under an old inactive loan number. After getting through the uploading of the offer and supporting documents we…Continue
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Latest Activity
Cindy Gillies replied to Sheyenne Schultz's discussion How to get the 2nd to accept a $3000 payoff from first?
pepper [ima-jean] left a comment for Cindy Gillies"u can try to escalate the file but what i have done before is let them do there bpo. ALWAYS MEET THE BPO AGENT AT THE PROPERTY TAKE THE LOCK BOX OFF TO INSURE THAT .. GET REAL FRIENDLY !!!! IN GENERAL TALKING TELL THE AGENT UR CONTRACT IS FOR…"
Cindy Gillies posted a blog postSuntrust stalling with approval letter
We have negotiated back and forth 3-4 times accepting what the bank was asking for. We have revised the HUD and sent it in expecting the approval letter when Suntrust now comes back stating their BPO is outdated and they need to do another. WHAT??? There was a BPO completed 4 weeks ago and the one before that was 11 weeks ago. Is there someone other than the negotiator that I can escalate to?
Cindy Gillies posted a discussionSuntrust Insurance Dept on 2nd asks for MORE!!
We have been negotiating and the bank (both liens are with Suntrust) came to us and said they had to get a certain net to the first and the 2nd was getting 11,300. The buyer came up on their offer and now the bank says it was submitted to the Insurance dept. for the 2nd and now they want $17,000 instead of the $11,300 they originally said they would take. I told them the buyers have come up almost 20K and the sellers have no money. The negotiator now came back saying the Insurance Dept for…See More
Cindy Gillies replied to Sheyenne Schultz's discussion How to get the 2nd to accept a $3000 payoff from first?"Try to get anything at all from anyone, even if it is not the full amount they are asking for. Go back to them with whatever you can. Sometimes they will accept it."
Esperanza Adams replied to Cindy Gillies's discussion No response from Equator!"Hi!
You should call in to BAC and get it escalated with a supervisor. Keep calling until the file gets escalated with a decision maker.
Good Luck!"
Angela Alfe replied to Cindy Gillies's discussion Equator system for short sales"Because the lender is NOT a party to the contract. They cannot "sign" a contract. The seller is still the owner on the home and thus the correct party to accept/execute a contract. The only thing the lender approves is the LOSS...not the…"
David T replied to Cindy Gillies's discussion Equator system for short sales"How can there be executed contracts when the lender has not decided?"
Angela Alfe replied to Cindy Gillies's discussion Equator system for short sales"As a real estate professional, would you ever accept multiple contracts on a property? The offers are for the seller to consider. Once the seller considers the highest/best/strongest offer, they will submit that ONE offer to the lender. If your…"
Angela Alfe replied to Cindy Gillies's discussion Equator system for short sales"You need to have the lender deny/reject the current offer in order to upload the 2nd offer. Usually a mass email to everyone in Equator does the trick (go to the messages section, reply to the negotiator on file from an email and then select Asset…"
Angela Alfe replied to Cindy Gillies's discussion Equator system for short sales"Let me ask you this...how can you have 2 executed contracts on a house at the same time? Would you expect to do this on a conventional sale?
No, you cannot submit multiple offers to the lender! The first/highest/best offer will be considered by the…"
David T replied to Cindy Gillies's discussion Equator system for short sales"Hi JR,
Based on your comment, is it correct that multiple offers can be submitted to Equator for the same property? I represent a buyer, and have been told by the listing agent that our offer cannot be submitted because Equator only allow one offer…"
David T replied to Cindy Gillies's discussion Equator system for short sales"Hi, I am interested in knowing this answer as well. Mainly, I represent a buyer for a short sale. An offer from another buyer was previously submitted to Equator. The listing agent indicates in the listing that additional offers will be considered.…"
Cindy Gillies replied to Cindy Gillies's discussion Foreclosure notice!"We recieved the denial to stop foreclosure from the asset manager with no explaination. We found out they will only reply to the request to delay foreclosure within 48 hours of the foreclosure date. So we had to request again within 48 hours and…"
Profile Information
- Occupation
- Realtor
- Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
- Fredericksburg, Stafford, Spotylvania, Prince William
- Short Sale Designations and/or Special Training
- SFR (Short Sales and Foreclosures Resource)
- Website
- http://www.GilliesTeam.com
- Short Sale Transactions Completed
- 10-25
- Do you have any experience in Commercial Real Estate? If so, do you have the CCIM or any commercial designations? How many commercial transactions and dollar volume have you CLOSED?
- no
- About Me/Profile of yourself: - Please add your Brokerage Company name also!
- i have been an agent for 6 years and work with my Husband, Mike and son, Michael. We began doing short sales to help people who were in trouble and with so many things changing with short sales we want to network to assist others and recieve the latest info out there so we can better assist our clients.
- Put in todays date! This is to help stop spammers!
- May 18, 2010
- PLEASE READ THIS!!! - This site is primarily for Realtors, REAL buyers or sellers with questions are welcome to ask, anyone here for other purposes may be banned. 1. Because this site is primarily for agents agents, Any soliciting is pointless and is not allowed. Please do not sell or promote products or services in any way, directly or indirectly. Do not link or sneak in links promoting your services on comments, posts, discussions or blogs. You may have links on your profile pages to your websites as long as your are not selling things other than real estate! Again, absolutely no outgoing links to your websites, blogs or listings 2. Do not speak disparagingly about members on this site. This community is meant to be helpful, and we are here to help each other. 3. We reserve the right to delete content and/or ban members that violate these rules. 4. Member Name (Full Name Field) format must be FIRST NAME, then LAST NAME! Please no company names, DESIGNATIONS, or website in the name field! Please read the terms of service under the "home" tab! IF YOU AGREE TO THESE TERMS, PLEASE TYPE "I AGREE" IN THE BOX BELOW!! Thanks for your cooperation, and welcome to the Network!
- i agree
Cindy Gillies's Blog
Suntrust stalling with approval letter
Posted on January 14, 2011 at 3:35pm 0 Comments 0 Likes
We have negotiated back and forth 3-4 times accepting what the bank was asking for. We have revised the HUD and sent it in expecting the approval letter when Suntrust now comes back stating their BPO is outdated and they need to do another. WHAT??? There was a BPO completed 4 weeks ago and the one before that was 11 weeks ago. Is there someone other than the negotiator that I can escalate to?
Comment Wall (2 comments)
- At 6:01pm on January 19, 2011, pepper [ima-jean] said…
- u can try to escalate the file but what i have done before is let them do there bpo. ALWAYS MEET THE BPO AGENT AT THE PROPERTY TAKE THE LOCK BOX OFF TO INSURE THAT .. GET REAL FRIENDLY !!!! IN GENERAL TALKING TELL THE AGENT UR CONTRACT IS FOR 5000 LESS THEN IT IS ! BE SMOOTH !!! AMAZING AN APPRAISER HAS OUR CONTRACT OFFER BUT THE BPO AGENT IT IS TOBOOO !!! U CAN MAKE A BPO COME INTO ANYTHING U WANT .. THEN S/T WILL THINK THEYHAVE DONE GOOD .. IT SOUNDS LIKE U HAVE A NEW EMPLOYEE AT S/T, WHEN U ASK A QUESTION DOES THE NEG. PUT U ON HOLD A LOT ?? THAT IS A GOOD SIGN .. BY THE WAY THEY ARE DOING AN INSIDE BPO RIGHT ??
- At 2:15pm on March 25, 2010,
Benjamin S. Lehrman said… - Hi Cindy,
I'm guessing your the coworker Catherine was trying to get this site's information for. I hope this site helps you out with all your SS needs. It's given me some well used knowledge in this crazy Short Sale market we are dealing with now.
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