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Closing

Started Jul 9, 2010 0 Replies

K so we went and signed the loan docs this morning, wasnt able to get the keys as now the title company is waiting for the i believe the HUD paper work or the escrow agent said the approvals from the…Continue

BOFA APPROVAL

Started this discussion. Last reply by Sue Jul 1, 2010. 8 Replies

Yes its me again................ lol ok our realtor contacted us nite before last (28th) in the evening and she said that she heard from the sellers agent and he told her   the “negotiator from Bank…Continue

Tax Extension?

Started this discussion. Last reply by Janelle Sagen Jul 1, 2010. 4 Replies

Has anyone heard the latest about the tax extenson that was supposed to be until Sept 30th, i heard on Monday it didnt pass?? According to

Home buyer and exsiting home buyers

Started this discussion. Last reply by Vanessa Calhoun Jun 21, 2010. 7 Replies

Did the tax credit pass? I havent heard anyting! Does anyone know if the Equater system is quick (B of A) We are still waiting for the signature from BOFA that they accepted the extra $$ we gave to…Continue

 

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Latest Activity

Sue commented on Michael Collins, CDPE, SFR, BPOR's blog post A Turn Around for the Housing Market?
"PHOENIX (CBS5) - A new report from Zillow said Phoenix has the highest increase in home prices in the United States.   "Well we've come up but then again we were one of the biggest markets to crash so we have no place to go but…"
Aug 2, 2012
Antonette Solano CSSG, SFR replied to Sue's discussion Closing in the group Bank of America Short Sales
"Good Luck in your new home!"
Jul 15, 2010
Vanessa Calhoun replied to Sue's discussion Closing in the group Bank of America Short Sales
"I'm so happy for you guys!!! Congratulations!!!!"
Jul 15, 2010
Sue added a discussion to the group Bank of America Short Sales
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Closing

We finally closed yesterday. I can actually smile when i say the word "patience"Well have alot to do and thanks again for everyones imput and answering my questions!Who knows when the market turns around in the future maybe i will become a "short sale specialist!Have a good day See More
Jul 15, 2010
Sue replied to Sue's discussion Just one question if anyone could help PLEASE in the group Bank of America Short Sales
"So what could we be waiting for?? This is what the title company told us earlier today!! Im also nervous with them having our check (downpayment) im just been so overwhelmed since t his started back in March!"
Jul 12, 2010
Marcia Pennant replied to Sue's discussion Just one question if anyone could help PLEASE in the group Bank of America Short Sales
"Sue: You DONT need them to sign-off on this ..Your HUD might get lost in the process or statrt ALL over again..The re-arrangement of fiqures on the HUD that doesnt affect the 2nd bottom line doesnt need an approval from BOA. Once you have the 1st.…"
Jul 12, 2010
Sue replied to Sue's discussion Just one question if anyone could help PLEASE in the group Bank of America Short Sales
"The 1st which is Wells Fargo already approved it! I would hope that the 2nd (Bank Of America) wouldnt be affected because they already did recieve from us an additional $5700.00 and that came out of our pocket. Again it was just the way the pool…"
Jul 12, 2010
Marcia Pennant replied to Sue's discussion Just one question if anyone could help PLEASE in the group Bank of America Short Sales
"I am a little nervous of BOA the 2nd lender.I dont think you would need a Final approval from the 2nd. In ALL my multiple liens the 1st Always makes the Final HUD decision. You need to be forceful and get the APPROVAL from the first and move to…"
Jul 12, 2010
Sue replied to Sue's discussion Just one question if anyone could help PLEASE in the group Bank of America Short Sales
"The title company is just waiting for the document and that is it. We have signed all the papers and gave them our down payment. Had to be BOFA! :)"
Jul 12, 2010
Sue replied to Sue's discussion Just one question if anyone could help PLEASE in the group Bank of America Short Sales
"Katerina So u understand what im asking? It really has nothing to do with them i think?? Well i guess so, it was the mortgae company we are going thru ( our loan) that didnt like the way it was worded < spelled wrong but are they pretty quick…"
Jul 12, 2010
Emmanuel (Mannie) Makhathini replied to Sue's discussion Just one question if anyone could help PLEASE in the group Bank of America Short Sales
"I think as long as the NET to B of A does not change, they should be able to approve your HUD for closing. It also depends on the negotiator. If they do not sign off on the HUD you should ask the listing agent if you could be included on the…"
Jul 12, 2010
Sue added a discussion to the group Bank of America Short Sales
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Just one question if anyone could help PLEASE

K as i mentioned a few days ago we went in to sign the papers and gave our down payment, we were getting a credit of $1500.00 for the pool, my understanding is that our lender didnt like the way it was said on the HUD so with that they changed it to be part of the closing costs, Wells which is the 1st for the seller agreed now we are wating for B OF A. Title Company told me a few min ago that they have (B OF A) has 48 -72 hrs to get it approved and back to her,With something like this are they…See More
Jul 12, 2010
Sue posted a discussion

Closing

K so we went and signed the loan docs this morning, wasnt able to get the keys as now the title company is waiting for the i believe the HUD paper work or the escrow agent said the approvals from the lenders. Im not sure if im making sence here or not but she said she ordered it yesterday and it normally takes up to 72 hrs to get back  or they have 72  hrs ,from the sellers agent, is this correct?? I just want to get moved in, they cant do anything now can they since we signed all this and also…See More
Jul 9, 2010
Sue commented on Mike Linkenauger's group Bank of America Short Sales
"Recieved the final approval on the sellers 2nd last Friday and title company waiting for the HOA reciept. We go in and sign tommrow and hoping and praying that the Sellers agent returned i think it is the HUD document and hopefully close, again we…"
Jul 9, 2010
Sue replied to Sue's discussion BOFA APPROVAL
"Tish Was it a short sale?? How long ago was this for u, when they sent that to u about the "within 5 days!"
Jul 1, 2010
Tish Thompson replied to Sue's discussion BOFA APPROVAL
"They were when I worked with them...they told me I'd have the approval letter within 5 days and actually received it the same day the BoA emailed me to let me know."
Jul 1, 2010

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i agree

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At 10:09am on May 27, 2010, Angela Alfe said…
They only contact the last person to contact them. What would worry me is that your agent has been in contact with the bank on a loan she really has no permission to be getting information on. This is private, personal information for the seller. It sounds like your agent called for info and is now the contact on that file. The whole, "will contact me if she needs any more docs" or whatever means that the negotiator thinks she is talking with the seller's side.

This is why it is so important for only one person to be in communication with the bank.

I hope it all works out for you, but your agent has no business contacting the seller's lender for personal, financial information...which is exactly what is happening, and is in violation if the seller did not give written permission for your agent to do so...I sure hope that YOUR agent was forwarding a message from the SELLER's agent and not that your agent is in contact with the bank...pushing whoever was previously in contact with the bank out of the way. That does not sound good, at all.
At 12:22pm on May 26, 2010, Angela Alfe said…
That $3,000 is what WF is willing to give to the 2nd. That is not exactly indicative of what BofA will accept.
At 12:07pm on May 26, 2010, Angela Alfe said…
Again, there is just no way for me to answer this question. You said the pay off would be around $171k, but how much was the total loan for the 2nd? If it's a small 2nd, they may just do it faster. If it's a big loss ($50k in losses, etc) then they may not. If it's a HELOC (Home Equity Line of Credit) they may not...or they may come back and demand more money.

There are just too many variables for me to say yes they will come back fast or no they won't.
At 11:53am on May 26, 2010, Angela Alfe said…
Hi, Sue!

There is no way for me to say anything either way. Them accepting this is all dependent upon a bunch of factors. If they've already verbally accepted this, then it shouldn't take too long to get an approval back. But, if they did not accept this, then there is no way to say.

Sorry I couldn't be more help. Good luck!!
 
 
 


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