Russ Colomo
  • Male
  • Burleson, TX
  • United States
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Latest Activity

Ann E Richardson replied to Russ Colomo's discussion Bank of America Daily Per Diem Charges for Closing Extension in the group Bank of America Short Sales
"I have had this occur once, let the buyer know the maximum and calculate that way - for example if it is 15 days its $1500 though it may be less set the expectation high - i was only ever been able to get extensions twice before the fees kicked…"
Nov 13, 2012
Russ Colomo added a discussion to the group Bank of America Short Sales
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Bank of America Daily Per Diem Charges for Closing Extension

I have a COOP approved short sale, buyers have requested two extensions to the original close date.  Approval letter states BofA will charge daily interest through closing for closing extensions. I've also read on other discussions where they could charge up to $100 per day for per diem.  I've been trying to find out the costs for this from the closing officer but no response.  Does anyone have experience with this?  I want to let the buyer know what they'll have to come up with at closing for…See More
Nov 13, 2012
Russ Colomo replied to Russ Colomo's discussion Cooperative Short Sale Relo Assistance in the group Bank of America Short Sales
"Andrea, my clients and I discussed the short sale process and I pushed for HAFA but BofA disapproved.  BofA then offered them the COOP, the clients told BofA that I was their agent and BofA tasked me with the short sale on Equator.  They…"
Feb 17, 2012
Amy Martin replied to Russ Colomo's discussion Cooperative Short Sale Relo Assistance in the group Bank of America Short Sales
"I did a coop. It should be in the coop invitation and mine stated that they will still give moving incentive money. Check and confirm with your coop negotiator or the third party."
Feb 16, 2012
REGINA ERIKSEN replied to Russ Colomo's discussion Cooperative Short Sale Relo Assistance in the group Bank of America Short Sales
"My experience with deed in lieu., the homeowner received more than if short sale would of went through. they opted deed in lieu once they found this out."
Feb 16, 2012
Andrea Cruz replied to Russ Colomo's discussion Cooperative Short Sale Relo Assistance in the group Bank of America Short Sales
"Just curious how did you go about getting your clients approved for the coop program. I wanted to get my clients approved for the cooperative program and initiated a shortsale on equator but they kept tasking me for an offer submission of which…"
Feb 16, 2012
Sharon Molnar replied to Russ Colomo's discussion Cooperative Short Sale Relo Assistance in the group Bank of America Short Sales
"It should be disclosed in the paperwork"
Feb 8, 2012
Joe Beauchamp replied to Russ Colomo's discussion Cooperative Short Sale Relo Assistance in the group Bank of America Short Sales
"The terms of a deed in lieu depend upon the investor and which program you are using."
Feb 7, 2012
Russ Colomo added a discussion to the group Bank of America Short Sales
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Cooperative Short Sale Relo Assistance

I'm currently working a BOA cooperative short sale.  Terms state if it doesn't sell in 120 days owner agrees to a Deed in Lieu of Foreclosure.  Just wondering if anyone knows if the owner does a deed in lieu of, does he still receive the $2,500 relocation assistance?  My contact at BoA didn't know.  ThanksSee More
Feb 7, 2012
Russ Colomo joined Mike Linkenauger's group
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Bank of America Short Sales

A place to discuss Bank of America short sale programs and share information and help to get mortgage short sales approved.
Dec 29, 2011
Russ Colomo joined Mike Linkenauger's group
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Referral Agent Needed!

At the Short Sale Specialist Network, we have at least 2-10 referrals each day in areas where we do not even have ONE preferred partner.See More
Aug 15, 2011
Russ Colomo commented on Mike Linkenauger's group Citi Short Sales
"I have a client who wants to do a short sale, Freddie Mac is the investor and wants it under HAFA.  I've read other posts that said not to list until the approval comes through.  I talked to Citi today and they said HAFA can't be…"
Apr 1, 2011
Russ Colomo joined Mike Linkenauger's group
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Citi Short Sales

A group to discuss Short Sale programs with CITI Mortgage Company offer short sale help and strategies.
Mar 23, 2011
Russ Colomo replied to Sidney Kutchuk's discussion Another HAFA & HAMP Loophole
"HI sidney,   From my understanding, B of A is correct, HAFA pertains only to non GSE loans (GSE being Freddie or Fannie).  Freddie and Fannie have their own versions of HAFA.  If it's an FHA backed loan, then you'll need to…"
Jan 25, 2011
Russ Colomo replied to Russ Colomo's discussion Promissory Note or Contribution in the group GMAC Short Sales
"Thanks for your responses.  I countered with everything I could think of, hardship, divorce, medical bills, job loss, property value decline, etc, and asked them to waive the promissory note and cash contribution.  They came back and…"
Jan 4, 2011
Darren J. De Wilde replied to Russ Colomo's discussion Promissary Note or Contribution in the group GMAC Short Sales
"Hi Russ, Normally the lender/servicer/investor will require a promissory note or contribution if the income of the seller is too high - for instance if the pension is high or there are insufficient exopenses on the sellers' worksheet…"
Dec 9, 2010

Profile Information

Occupation
Realtor, Real Estate Broker
Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
Tarrant & Johnson counties Texas
Website
http://burlesonrealestate.com
Short Sale Designations and/or Special Training
SFR (Short Sales and Foreclosures Resource)
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?
Closed two commercial real estate transactions for $400,000
About Me/Profile of yourself: - Please add your Brokerage Company name also!
Owner/Broker of Colomo Realty, LLC. A full service real estate company in Burleson, TX.
Put in todays date! This is to help stop spammers!
May 17, 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!
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At 12:37pm on May 18, 2010, Andrew Thurber said…
Welcome Russ! Looking forward to hearing from you on the guide.
 
 
 


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