I have a short sale listing that was in escrow when Ocwen demanded $7500 more. The buyer did not want to go higher, so we placed it back on the market with the new "Ocwen approved" listing price. …Continue
I understand that Fannie Mae has new marketing requirements such as; they require that the short sale listing be in MLS (as an "Active" listing) for a period of 5 - 7 days and I've heard they may ask…Continue
Currently I am using Spokeo to find phone numbers of home owners. But, their information is not always the most current. Does anyone out there have a service they can recommend? Thanks! Continue
This is Frustrating! I have a 1st with GMAC and a 2nd with US Bank. GMAC is willing to give US Bank $6,000. US Bank has declined this short sale twice due to the sellers ability to pay the 2nd…Continue
Reno, NV -How long do the bank's have
to do a Short Sale.
The common knowledge among Realtors and buyers alike is that Short Sales take forever to do. I often talk to buyers who believe that banks take 5-6 months to accomplish a short sale.
Here is the issue. Banks do have responsibilities. In 80% of cases, the bank I negotiate with do not own the loan. That means they don’t take any of the loss from short sales that aren’t handled properly.