"I contacted the investor (Bank of America) directly. I got hung up on then a nasty call from suntrust but it miraculously got approval the next day."
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Multiple lenders on Short Sale
Started this discussion. Last reply by Ken Morin Jul 6, 2010. 4 Replies 0 Likes
Does anyone know if it is normal that the principle lender would speak to the holder of the second prior to issuing their short sale approval with the payout demands? I don't believe they do but…Continue
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Ken Morin replied to Maggie Hood's discussion Sun Trust "single point of contact" in the group SunTrust"Been trying to do one for the past year. The only time I got a quick response was when I contacted the investor (bank of america) directly. Suntrust is the servicer. My trouble is the second which is with Chased and they already charged of the…"
Ken Morin replied to Paul Antonelli's discussion How are agents charging for their short sale processing fees"I think if you did the training to do shortsales and you take a listing on a shortsale you should do the whole deal and demand a commission that is adequate. Dont make it difficult and get into grey areas trying to charge someone extra fees."
Ken Morin replied to Paul Antonelli's discussion How are agents charging for their short sale processing fees"Buyers are usually willing to pass on homes when they learn that the selling agent is charging extra for negotiation or not doing the negotiation. They also usually understand when they learn that buyers agent is not getting a fair tshare of the…"
Ken Morin replied to Paul Antonelli's discussion How are agents charging for their short sale processing fees"There is no negotiator fees if you do it yourself. I have seen listing agents instruct buying agents to request closing costs with the buyer understanding that a portion would be used to pay negotiation fees. You can also ask a higher commission…"
Ken Morin replied to Paul Antonelli's discussion How are agents charging for their short sale processing fees"I personally think it is unethical to charge extra, its part of your job if you want to do shortsales. If you are not competant enough to do it yourself then the expense should come from your commission as listing agent. A listing agent doesnt…"
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Group for discussing short sales with Suntrust and strategies for getting mortgage short sales approved in a timely manor
Ken Morin replied to Sara Garabedian DRE# 00931842's discussion citit short sale package in the group Citi"your website is not functional."
Ken Morin joined Mike Linkenauger's group
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A group to discuss Short Sale programs with CITI Mortgage Company offer short sale help and strategies.
Ken Morin replied to Ken Morin's discussion Multiple lenders on Short Sale"Thanks for the replies everyone. It's always good to get other perspectives."
Jan Justice replied to Ken Morin's discussion Multiple lenders on Short Sale"On the short sales I have done the principle has always spoken to the 2nd lien to let them know what they will pay them. I have had the 2nd refuse or have made the owner sign a paper saying they will pay back the rest of the loan on a 2nd home. In…"
Van replied to Ken Morin's discussion Multiple lenders on Short Sale"I am an investor. Spoke w/SLS re a deed in leiu. They are sending me the paperwork. Have a HELOC w/Regions. SLS informed me to negotiate w/Regions and provide them w/the payoff agreement and they would do the DIL. Would think it would be the…"
Julia Huntsman 562-896-2609 replied to Ken Morin's discussion Multiple lenders on Short Sale"I had the 1st initially tell me they would do that, but then didn't take me up on it when I asked again. The 2nd is refusing to take what the 1st is offering, and I'm looking for anyone having experience dealing with SLS!"
Ken Morin posted a discussionMultiple lenders on Short Sale
Does anyone know if it is normal that the principle lender would speak to the holder of the second prior to issuing their short sale approval with the payout demands? I don't believe they do but think it would be nice to avoid the 2nd from refusing to close the deal because he wants more money.See More
Ken Morin commented on Debbie Battista's blog post Ocwen-trouble"I know a couple that has had 3 loan modifications from OCWEN in the past 3 years and they pulled out $135000 five years ago to put in a fantasy pool. Each year they told me I could short sell their home if the mod wasn't successful but so far…"
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- At 11:32am on June 3, 2010,
Steele V. Propp said… - Happy Birthday a day early!
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