"? times out of 10, at least here in VIrginia, it doesn't make sense for the Seller to do a short sale after bankruptcy.
Most banks want the Seller to "re-affirm" the debt, or, again be responsible for the debt.
As you note, why…"
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Debbie Heaton's Page
Latest Activity
Shirley Farrington commented on Debbie Heaton's blog post First Horizon"Debra,
That is a wise way to handle this kind of thing. A great way to lead!
Shirley
"
Debra Savittieri commented on Debbie Heaton's blog post First Horizon"I am assuming your question above meant to say-Seller declared BK instead of Buyer..
Make it easy on YOURself and your Buyer. Here is my suggestion.
If the Buyer wants the 'Release of the Lien' and to obtain the home- they must, and most…"
Fred Shocklie commented on Debbie Heaton's blog post First Horizon"I just had this problem with Chase. They wanted $6500 over the $6000 the first would allow. I explained that the seller is prohibited from preferring one debtor over another, and that, if the seller wanted to give them the money, they would be…"
Debbie Heaton posted a blog postFirst Horizon
Short sale the buyer had declared bankruptcy, first and second lien was discharged in bankruptcy. First lender BOA approved short sale Second lender First Horizon refused free money to them. Wanted buyer to give 10% Why would a buyer give a lender 10% when debt dischargedSee More
James Quail commented on Debbie Heaton's blog post FRANKLIN CREDIT 2nd"IT depends on the fair market value of the house. The two alternatives you can threaten is one, the house goes to auction and the second gets nothing (unless there is a lot of equity) and two, bankrupt the notes and let the house fall into…"
Debbie Heaton posted a blog postFRANKLIN CREDIT 2nd
Help FRANKLIN CREDIT: short sale with BOA. The seller approved for Cooperate Short Sale Program. second with Franklin Credit. Per the approved short sale by BOA Franklin Credit is getting $2150. Franklin denied and said they wanted a promissory note for full balance. seller agreed to the promissory note. Then Franklin came back and denied the short sale again now they want $7500 and the promissory note for remaining The seller does not have the $7500 Then Franklin Credit came back and said…See More
Kevin - Greenville, SC replied to Debbie Heaton's discussion Short Sale Denied After Property Did Not Appraise by Buyer's Lender in the group Wells Fargo Short Sales"Call me - easier to discuss 864-485-9283"
Debbie Heaton replied to Debbie Heaton's discussion Short Sale Denied After Property Did Not Appraise by Buyer's Lender in the group Wells Fargo Short Sales"Kevin
Could you clarify something for me I keep getting the guildlines thrown at me by Wells Fargo on the selling Price but the guidelines also state:
The bank has 5 working days to review the contract for sale if the seller has already been…"
Kevin - Greenville, SC replied to Debbie Heaton's discussion Short Sale Denied After Property Did Not Appraise by Buyer's Lender in the group Wells Fargo Short Sales"Debbie,
For an FHA Pre-Foreclosure Sale an FHA As-Is Appraisal is done, not a BPO. This is not an option for Wells Fargo and they are required upon request to provide you and the homeowner a copy.
Review this…"
Debbie Heaton replied to Debbie Heaton's discussion Short Sale Denied After Property Did Not Appraise by Buyer's Lender in the group Wells Fargo Short Sales"It is a FHA Loan I mispoke earlier when I said Fannie Mae but if anyone has this contacts for Fannie Mae I would love to have them also."
Kevin - Greenville, SC replied to Debbie Heaton's discussion Short Sale Denied After Property Did Not Appraise by Buyer's Lender in the group Wells Fargo Short Sales"Debbie,
Is this an FHA loan or a Fannie Mae?"
Debbie Heaton replied to Debbie Heaton's discussion Short Sale Denied After Property Did Not Appraise by Buyer's Lender in the group Wells Fargo Short Sales"WF has closed the file and has refused to order another BPO. I have contacted FHA National Servicing Center at 877-622-8525 Have the FHA Case number when you do. They have asked me to fax in all paper work and authorization from Seller. They are…"
Kevin - Greenville, SC replied to Debbie Heaton's discussion Short Sale Denied After Property Did Not Appraise by Buyer's Lender in the group Wells Fargo Short Sales"Have them order another BPO and give the BPO agent a copy of the Appraisal."
Kevin - Greenville, SC replied to Debbie Heaton's discussion Short Sale Denied After Property Did Not Appraise by Buyer's Lender in the group Wells Fargo Short Sales"Debbie, Go much higher up within Wells Fargo then to Fannie Mae. The manger is not nearly high enough. Rule #1-10 Never give up!"
Profile Information
- Occupation
- Realtor
- Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
- Fulton, Gwinnette, Cobb, Douglasville
- Short Sale Designations and/or Special Training
- CSSG (Certified Short Sale Guide), SFR (Short Sales and Foreclosures Resource), CDPE (Certified Distressed Property Expert), CSP (Certified Short Sale Professional)
- Website
- http://www.realestateheaton.com
- Short Sale Transactions Completed
- 25-50
- 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?
- Yes
- About Me/Profile of yourself: - Please add your Brokerage Company name also!
- Coldwell Banker Residential Brokerage
Debbie’s high energy level, personal integrity, efficiency and her commitment to fulfilling clients and customers needs make Debbie a uniquely qualified REALTOR®. Few realtors have a background as diverse as Debbie. Prior to real estate, her career involved contract negotiations, financial analysis, marketing management, and accounting for a large developer for 20 years. Debbie considers the negotiation aspect of the real estate transaction to be one of her greatest strengths. Today as a residential agent, Debbie provides a service to help buyers and sellers in meet their housing needs in short sales. A genuine interest in helping people combined with enthusiasm, a strong work ethic and organizational skills is the reason to pick Debbie Heaton as your realtor. Debbie is dedicated to helping her clients in all stages of the real estate transaction, and their complete satisfaction is her ultimate goal.
Atlanta Board of Realtors
National Board of Realtors
Equator Certified Platinum and Equator Short Sale Certified.
RDCPro™ Certification
Certified Short Sale Agent
A short sale takes place when the value of the property declines to be lesser than the remaining value of the mortgage. The homeowner decides to sell his property because he can no longer keep up with the monthly payments. In this case, the approval of the lender has to be approved.
- Put in todays date! This is to help stop spammers!
- March 10, 2011
- 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!
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Debbie Heaton's Blog
First Horizon
Posted on April 12, 2012 at 2:08pm 4 Comments 0 Likes
Short sale the buyer had declared bankruptcy, first and second lien was discharged in bankruptcy. First lender BOA approved short sale Second lender First Horizon refused free money to them. Wanted buyer to give 10% Why would a buyer give a lender 10% when debt discharged
FRANKLIN CREDIT 2nd
Posted on February 15, 2012 at 10:47am 1 Comment 0 Likes
Help FRANKLIN CREDIT: short sale with BOA. The seller approved for Cooperate Short Sale Program. second with Franklin Credit. Per the approved short sale by BOA Franklin Credit is getting $2150. Franklin denied and said they wanted a promissory note for full balance. seller agreed to the promissory note. Then Franklin came back and denied the short sale again now they want $7500 and the promissory note for remaining The seller does not have the $7500 Then Franklin Credit came back and…
ContinueComment Wall (1 comment)
- At 2:21pm on May 02, 2011, Mike Linkenauger gave Debbie Heaton a gift…
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