"Kathy,
I know I am responding to a very old post, did you ever find out anything useful for BBandT? I am working on a short sale now where both the 1st and the 2nd are with them.
You can reach me at Rick@NCShortSaleTeam.com …"
Short Sale Specialist Network
Realtor Short Sales Training and Resources
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Rick Wolff, CRS, SFR, CSSG, CDPE
- Male
- Apex, NC
- United States
- Blog Posts
- Discussions (3)
- Events
- Groups (4)
- Videos
Rick Wolff, CRS, SFR, CSSG, CDPE's Groups
Gifts Received (2)
Rick Wolff, CRS, SFR, CSSG, CDPE's Page
Latest Activity
Rick Wolff, CRS, SFR, CSSG, CDPE replied to Kathy North's discussion HAS ANYONE EVER WORKED A SHORT SALE WITH BB&T HOLDING SECOND MORTGAGE
Rick Wolff, CRS, SFR, CSSG, CDPE joined Peggy J. Wheaton's group
CDPE Members
This is a group for members of The Short Sale Specialist Network who have earned the CDPE (Certified Distressed Property Expert) designation.
Rick Wolff, CRS, SFR, CSSG, CDPE replied to marc lederman's discussion will banks do short sale when borrower is current on payments"Hello Ya'll,
Thank you for all the replies! I misspoke (mis-typed) when I wrote FNMA requires 60 days late. I should have said Freddie Mac. And this is from BankofAmerica.com/realestateagent under short sales - the…"
Rick Wolff, CRS, SFR, CSSG, CDPE replied to marc lederman's discussion will banks do short sale when borrower is current on payments"I was told by a BoA negotiator on 2/15/11 that FNMA NOW REQUIRES 60 DAYS LATE to do a short sale. He said that was a new guideline that had just come down. Can anyone verify?
My problem with that is that formerly a short seller…"
"Not sure where you are at, but Were all parties, Buyer agent, buyer, seller and sellers agent aware of this? If so, I have been advised that it is perfectly legal here in the jacksonville area. I've been advised that as long as the buyers…"
Julie Vrigian CSSG, CSSP replied to Rick Wolff, CRS, SFR, CSSG, CDPE's discussion Commission rebate to short sale BUYER in the group Short Sale Q and A"Thank you...That is my belief."
Jonathan Katz replied to Rick Wolff, CRS, SFR, CSSG, CDPE's discussion Commission rebate to short sale BUYER in the group Short Sale Q and A"Every situation is different so without actually being a part of yours the one thing that I would like to note is that the First mortgage can not legally tell the Second mortgage how they are going to settle their debt. If you don't get a lien…"
Julie Vrigian CSSG, CSSP replied to Rick Wolff, CRS, SFR, CSSG, CDPE's discussion Commission rebate to short sale BUYER in the group Short Sale Q and A"I am not sure if my question was understood...I was referring to the seller agreeing to pay additional funds to a 2nd or 3rd, to release the lien. If the seller negotiates it with them, with or without our knowledge, can we get into trouble?"
Jonathan Katz replied to Rick Wolff, CRS, SFR, CSSG, CDPE's discussion Commission rebate to short sale BUYER in the group Short Sale Q and A"Agreed. I noted in my first post just in passing that what I was saying was merely from the bank's perspective and not law. I said local but it is really federal. Great post! By the way I may have a listing coming up in Illinois (right now it…"
Jonathan Katz replied to Rick Wolff, CRS, SFR, CSSG, CDPE's discussion Commission rebate to short sale BUYER in the group Short Sale Q and A"Terri,
That is right on point. I wanted to know who the lender was. It is like our short sale processing fee. In most cases it can come from the buyer's awarded closing costs but some lenders (like IndyMac) specifically note that it can not be…"
Mike Linkenauger replied to Rick Wolff, CRS, SFR, CSSG, CDPE's discussion Commission rebate to short sale BUYER in the group Short Sale Q and A"That's one thing that is certain, regardless of state brokerage laws and practices!"
Scott Ingalls replied to Rick Wolff, CRS, SFR, CSSG, CDPE's discussion Commission rebate to short sale BUYER in the group Short Sale Q and A"RESPA alert---has to disclose."
Profile Information
- Occupation
- Realtor, Real Estate Broker
- Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
- North Carolina 'Triangle', primarily Wake and Durham and Orange and Johnston Counties including the cities of Raleigh, Cary, Apex, Durham, Holly Springs, Fuquay Varina, Knightdale, Wake Forest, Clayton
- Short Sale Designations and/or Special Training
- CSSG (Certified Short Sale Guide), SFR (Short Sales and Foreclosures Resource), CDPE (Certified Distressed Property Expert)
- Website
- http://www.SavingHomeOwners.org
- Short Sale Transactions Completed
- 0-5
- 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!
- Realtor since 1981. Started with the largest firm in St. Paul / Minneapolis then founded my own firm 8 years later. Moved to Raleigh (Apex) North Carolina in 2003. Just about to close my first short sale through the Equator system with Bank of America. Had an incredible horror story for about 4 months with B of A until they installed Equator and I was able to connect with someone farther up the food chain. It made all the difference. I am looking forward to assisting more distressed homeowners now that there seem to be some effective systems in place.
- Put in todays date! This is to help stop spammers!
- June 10, 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
Comment Wall (2 comments)
- At 3:23pm on August 18, 2010, Mike Linkenauger gave Rick Wolff, CRS, SFR, CSSG, CDPE a gift…
- At 4:04pm on March 16, 2010, Mike Linkenauger gave Rick Wolff, CRS, SFR, CSSG, CDPE a gift…
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