Deborah Weiss
  • Colts Neck, NJ
  • United States
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  • Joy Baker

Deborah Weiss's Discussions

Sellers Concessions

Started this discussion. Last reply by Vanessa Calhoun Mar 13, 2011. 11 Replies

Im getting alot of requests from buyers of shorts sales who are applying for FHA loans and need the sellers concession in order to close.  In a verbal from BOA, they claim if the orginating  loan is…Continue

 

Deborah Weiss's Page

Latest Activity

Deborah Weiss replied to Larry Sarlo's discussion CHASE offered incentive and is now declining money to seller.
"try calling Jamie Diamonds office at 212-270-1111 and advise you want to do an incentive dispute for a short sale.   they will put you intouch with the short sale deparment at the administrative level.    You can apply for a…"
Aug 30, 2013
Deborah Weiss commented on Mike Linkenauger's group HAFA Short Sale Program
"my client was just HAFA approved but was over appraised. Wells wants 345K list and im getting offer nearer to 290K.  My question, can the homeowner contribute cash on a FREDDIE HAFA?   Or has anyone disputed the appraised value and…"
Jun 18, 2012
Deborah Weiss replied to Mike Linkenauger's discussion Government Sponsored Principle Forgiveness Refinance Program is Here!
"Sounds as if then any realtor will be able to handle these transactions and not just us short Sale specialists that have devoted so much of our time to learning the rules and helping clients thus far.  "
Jun 18, 2012
Deborah Weiss replied to Andee Allen's discussion Banks Pay Realtors for Deed In Lieu Foreclosure
"If a client is going to let foreclosure, isnt it better to to a deed in lieu due to the liability issues for the property owner.  Its my understanding that if someone falls on the property that the homeowner is responsible and until the bank…"
Dec 14, 2011
Lisa Compean left a comment for Deborah Weiss
"- In Illinois tampering with the BPO is a fraudulent activity that gets reported to the BPO Management companies and can undermine everything you're trying to do for the client. Discussing/steering value is one thing. Pointing out contractor…"
Dec 10, 2011
Deborah Weiss replied to Andee Allen's discussion Banks Pay Realtors for Deed In Lieu Foreclosure
"Patti,  agreed things are changing.  My biggest obstacle is the banks appraisals and BPO agents that set the price for the bank.  I meet these agents at the home everytime and pull the comps and discuss the repairs needed and the…"
Dec 10, 2011
Deborah Weiss replied to Andee Allen's discussion Banks Pay Realtors for Deed In Lieu Foreclosure
"I know that the FHA must have an FHA certified appraisal and Im not sure they would take from another source.   Its a great idea and I would order one each time, if we knew it would be considered.   What has your actual experience been…"
Dec 9, 2011
Deborah Weiss replied to Andee Allen's discussion Banks Pay Realtors for Deed In Lieu Foreclosure
"I have a Citi FHA that once again has over appriased the property and Ill never get an offer at price they are looking for.  Let me know if anyone hears that the 1% is done also with FHA loans"
Dec 9, 2011
Marty Macisso replied to Deborah Weiss's discussion TD Bank in the group Short Sale Q and A
"how did it go? Did they ask for 20%? "
Aug 22, 2011
Deborah Weiss replied to Deborah Weiss's discussion FHA with Citi in the group Citi Short Sales
"Kevin,   Thank you for the contact.    I just printed and read the HUD program.   I see that the procedure is for the Homeowner to get an FHA appraisal, and then submit an offer that meets the guidleines.  It…"
May 28, 2011
Deborah Weiss replied to Deborah Weiss's discussion FHA with Citi in the group Citi Short Sales
"Thank you for all the great information...."
May 28, 2011
Joy Baker replied to Deborah Weiss's discussion FHA with Citi in the group Citi Short Sales
"Are you dealing with a specific negoatiator at Citi?  If so, try an email with this verbiage: FHA Mortgagee Letter 2008-43 (Section E) and all subsequent updates, including the most recent one dated November 17, 2010, indicate that the…"
May 28, 2011
Kevin - Greenville, SC replied to Deborah Weiss's discussion FHA with Citi in the group Citi Short Sales
"Deborah,   Why is the Approval to Participate for $160,000 if the Appraiser said the house was not worth more than $120,00?  The Approval to Participate is suppose to reflect the FHA As-Is Appraiser.  Demand a copy of the…"
May 28, 2011
Deborah Weiss and Joy Baker are now friends
May 28, 2011
Deborah Weiss replied to Deborah Weiss's discussion FHA with Citi in the group Citi Short Sales
"No, but I am going to request a copy as per Joy Bakers suggestion.    Great idea as the appraiser looked me right in the face and said this house wasnt worth more than 120K.  And then 30 days later, I am being told to list the…"
May 28, 2011
Deborah Weiss replied to Deborah Weiss's discussion FHA with Citi in the group Citi Short Sales
"Joy,   thank you, that will be my first step as two appraisals in two years..Is there a direct line or recommended number for HUD for appeals?"
May 28, 2011

Profile Information

Occupation
Realtor
Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
Monmouth and Ocean Counties , New Jersey
Website
http://www.ShortSaleSpecialistNJ.com
Short Sale Designations and/or Special Training
SFR (Short Sales and Foreclosures Resource), Equator Certified
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!
Broker Associate with Critelli & Kilbride REaltors in Holmdel, NJ.
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September 19, 2010
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At 6:24pm on December 10, 2011, Lisa Compean said…

- In Illinois tampering with the BPO is a fraudulent activity that gets reported to the BPO Management companies and can undermine everything you're trying to do for the client. Discussing/steering value is one thing. Pointing out contractor statements for structural issues that can be documented another. Not allowing the BPO agent to complete the 3rd party "independent" opinion of value evaluation -well, this is what the mgmt. co's. have to say about this.  This is from EML's BPO site and others have increasingly made BPO agents sign and report any indications of what you've mentioned or face being involved in collusion with you.  If you don't know how to do BPO's another referral resource on completing them is NABPOP's guidelines book.  For those that feel they know how to do them but aren't "trained,"  and want to be on top of it.

A better option, from my perspective is to counter the BPO value after it comes out by doing your own when you list it and creating a list of problems accompanied with a contractors estimate to fix or your best guesstimate (since you'll have to pay to get a contractor to the house and waste his time so you can make money) and again when it get's the official BPO which should be accompanied by your buyer's inspection results, (actually, if you're on top of this-you should get the inspection off the table 1st), so you can help the negotiator with a final decision based on seen and unseen flaws without getting into this collusion issue.  Being put on the do not work with list with the lender will hurt your chances of working, believe me.  Please check what your state's rules are on this issue.  Here, it's a real problem.

At 1:41pm on February 04, 2011, Mike Linkenauger gave Deborah Weiss a gift
 
 
 


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