"Sorry mis quote...this client was told they would NOT do the FHA HAMP Mod"
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Wells Auction Date Just Past.....
Started this discussion. Last reply by Lisa Johnson Oct 15, 2011. 4 Replies 0 Likes
I was intending to show a property this week that was listed at below market value. I asked the listing agent what the history was and he said that he had been in touch with the sellers bank and to…Continue
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Lisa Johnson commented on Mike Linkenauger's group Bank of America Short Sales"Question for Denied B of A FHA HAMP....my client has been through the ringer...
For just about a year now, she has been either in forebearance or applying for a loan mod. In the beginning, she got behind on a couple of payments and then…"
Lisa Johnson replied to Lisa Johnson's discussion Wells Auction Date Just Past....."Thanks everybody...that's my experience too, but wanted to check as things change so often...The house has definitely been foreclosed on...went out this week and it's been drilled and retro fitted with new locks..."
Alyse Sands replied to Lisa Johnson's discussion Wells Auction Date Just Past....."Would they, possibly, still keep the same agent to sell the property? Is it possible that it passed the auction date but did not get any acceptable bids? I'd ask those questions, directly, of the agent you spoke to. They will…"
Ermesto Sayson Jr replied to Lisa Johnson's discussion Wells Auction Date Just Past....."Currently, I do not know of any banks that will accept offers prior to an REO being assigned to a Asset Manager and an Agent. "
Smitty replied to Lisa Johnson's discussion Wells Auction Date Just Past....."I don't think so. I've heard of Realtors getting auctions rescinded, but I've never actually known a case. I also think they would only do that in a case where an offer was on the table prior to the auction."
Lisa Johnson posted a discussionWells Auction Date Just Past.....
I was intending to show a property this week that was listed at below market value. I asked the listing agent what the history was and he said that he had been in touch with the sellers bank and to bring all offers...they were in preforeclosure. Called him again today and he said there was a HUD key on the property, which means to me that it was foreclosed on already? I look at Realist and it did indeed show that the auction date was last Tues....Is there anyway to get Wells Fargo to work an…See More
Lisa Johnson replied to Cindy Billman, CDPE, SFR's discussion Wells Fargo Info Just Received in the group Wells Fargo Short Sales"I was intending to show a property this week that was listed at below market value. I asked the listing agent what the history was and he said that he had been in touch with the sellers bank and to bring all offers...they were in preforeclosure.…"
Lisa Johnson replied to Lisa Johnson's discussion B of A Borrower Qualifying Ratios for Loan Mod in the group Bank of America Short Sales"That's the best I could find as well...Many thanks for the response."
Lehel Szucs replied to Lisa Johnson's discussion B of A Borrower Qualifying Ratios for Loan Mod in the group Bank of America Short Sales"at the recent NAHREP conference I hear 31%"
Lisa Johnson posted a blog postRatios for BofA loan mod
loan mod would be for B of A...FHA loan...it looks like the borrowers housing dti is below the normal 31% mark but her total dti is at a breakeven with her bills..she is trying to figure out if the loan mod process is a waste of time.See More
Karen Koblentz replied to Lisa Johnson's discussion B of A Borrower Qualifying Ratios for Loan Mod in the group Bank of America Short Sales"There are so many "items" for consideration and what program you are going for and who the actual investor is will dictate the ratio that will comply for success. "
Lisa Johnson posted a status"I just received my CDPE certification and am very happy to have such competent and caring professionals to work with to help my clients."
Lisa Johnson added a discussion to the group Bank of America Short Sales
B of A Borrower Qualifying Ratios for Loan Mod
I am working with a client to help her work through all available processes to her.When looking at a B of A loan mod....what do you find are the front and back end ratios they allow for borrowers they approve? Please advise. Many thanks! See More
Lisa Johnson commented on Peggy J. Wheaton's group CDPE Members"Yes, CDPE is a great resource for professionals who want to make a difference. Glad to finish my certification last month to be able to officially help my clients in a more education fashion. Any help needed in TX is my speciality."
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- I specialize in Austin TX and surrounding areas, including Travis County, Williamson County, Bastrop County
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Lisa Johnson's Blog
Ratios for BofA loan mod
Posted on September 21, 2011 at 6:12pm 0 Comments 0 Likes
loan mod would be for B of A...FHA loan...it looks like the borrowers housing dti is below the normal 31% mark but her total dti is at a breakeven with her bills..she is trying to figure out if the loan mod process is a waste of time.
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