"I doubt that they would care... and from my experience you would then have a buyer struggling to get their loan done in a timely fashion!"
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"We managed to get this resolved, it is a fannie mae loan, B of A would only give 6% to the second max and would not let any contributions from any other source go to the second. The good news is when RTR found out it was fannie mae, they…"
Joseph C. Alfe replied to Susie Genet's discussion Second mortgage help! in the group Short Sale Q and A"What is the balance of the second? BOA should be able to get them up to 10%, or $6,000. If not, get the rest from the buyer. Basically, it's a lender counter, so treat it as such. Tell them, "Great news! We are…"
"Thanks, Bryan, working on that angle!"
" Just got my response from RTR on my offer of $1500 as follows: "No. I already told you, this is the only approval that will be issued on this account. Let me know if you can not reach it and I will close out the short…"
"I have offered RTR $1500 and am waiting for their response. Angela, I will need to add that wording in, have not seen it in this area! I have calls into everyone involved and am waiting to see if anyone is going to give. Appreciate…"
"Agent commissions are 3%... the house is small, 100,000 so not a lot of room in commissions. I am willing to drop mine to 2% to get it done, but buyers agent not interested. Buyer has maxed out what she can pay and seller won't contribute."
Second mortgage help!
I have a situation with Bank of America as the first and Real Time Resolutions as the second. Bank of America has allowed them $800 and Real Time won't budge off of $3000.00. $2200 doesn't seem like much but I can't find a way to bridge the gap. Any recommendations?See More
Short Sale Q and A
Got short sale questions? I have been successfully closing short sales since 2005 and I have dealt with just about every lender, every scenario. If you have a question, post it here and I will do my best to help.See More
"I have a situation with Bank of America as the first and Real Time Resolutions as the second. Bank of America has allowed them $800 and Real Time won't budge off of $3000.00. $2200 doesn't seem like much but I can't find a…"
"That is what I figured... the seller will not pay them, so that only leaves me with the buyer! Not sure how to find one who will be willing to do that!"
Kevin - Greenville, SC replied to Susie Genet's discussion Short sale with outstanding judgments in the group Negotiation Station"Sue,
You need a plan of attack for the Judgments. In most cases the lender will not approve payment of them out of their proceeds. Either the buyer or seller will have to settle with them @ closing.
"
Short sale with outstanding judgments
I have a client who just contacted me about short selling a duplex that he owns. He has recently had a number of financial issues and as a result has 2 judgments as liens against this property for a total of about $13,000. The property value is around $125,000. What is the best way to proceed?
Selling the Short Sale
I hope that through this medium we will be able to share our experiences as they relate to the sale process of the short sale business specilization in residential and commercial real estate.
Ernie Dill replied to Susie Genet's discussion Wells Fargo Short Sale Help Needed!"Did the Seller apply for a HAFA Short Sale? It's way too early for WF to be worrying about the second and we're talkin' small potatoes here. If they did the BPO, then there should be a listing price recommended or required…"
Robert Wiseman replied to Susie Genet's discussion Wells Fargo Short Sale Help Needed!"This is an interesting transaction but not uncommon. I am wondering if perhaps if you get a buyer they would be willing to contribute the difference. What you could tell the secondlien is that the difference will be coming from the buyer on their…"
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- In OK: Tulsa, Broken Arrow, Bixby, Owasso, Jenks, Sapulpa, Sand Springs, Coweta, Glenpool, Catoosa,
- Short Sale Transactions Completed
- 10-25
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Forum
Are FHA loans eligible for HAFA?
Started by Cinda Rose in Rants and Raves. Last reply by Cinda Rose 5 hours ago. 2 Replies 0 Likes
Making sure your Realtor is on top of things
Started by Stephen Dotlich in Rants and Raves. Last reply by Sheila Vardakis 8 hours ago. 17 Replies 0 Likes
Bank of America Short Sale Incentive Relocation Assistance
Started by TeamKane Realty in Rants and Raves. Last reply by Robin Mitchell 17 hours ago. 3 Replies 0 Likes
Supreme Course rules on Quicken Case - Fee does not violate Section 8(b) of RESPA
Started by Patti Guilford in Rants and Raves. Last reply by Fred Shocklie yesterday. 2 Replies 0 Likes
What does Analysis stage mean Bank of America
Started by Craig Schneider in Rants and Raves. Last reply by Craig Schneider yesterday. 9 Replies 0 Likes
Bank of America changed closing date
Started by Kevin Hayes in General Discussion. Last reply by Dawn Marie Richeal yesterday. 5 Replies 0 Likes
Bank of America NDS Co-op on Proactive
Started by Olesya Drozdova in Question and Answer. Last reply by Jack Dudenhoeffer yesterday. 3 Replies 0 Likes
Is There A Maximum Dollar Amount That Qualifies For A Short Sale?
Started by James Ybarra in Rants and Raves. Last reply by Mike Linkenauger yesterday. 4 Replies 0 Likes
Does anyone have any short sale experience with Ocwen Bank?
Started by Varnie Jules in Network Talk. Last reply by Joseph C. Alfe on Monday. 15 Replies 0 Likes
Can the seller pay additional commission?
Started by Jose Hernandez in Question and Answer. Last reply by Satar Naghshineh on Sunday. 63 Replies 0 Likes
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