Theresa Young-Rock
  • Female
  • Virginia Beach, VA
  • United States
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Latest Activity

Gretchen Beard, PLLC replied to Theresa Young-Rock's discussion Short Sale Second with Citi in the group Citi Short Sales
"How do I write up the HUD w the extra cost to the buyer for a payment to the 2nd? Wouldn't that be unfair to the 1st mortgage, aren't they gonna see the HUD and go hey - if the buyer can afford more, we want more too? I don't get it.…"
Oct 26, 2010
Gretchen Beard, PLLC replied to Theresa Young-Rock's discussion Short Sale Second with Citi in the group Citi Short Sales
"OMG I had the same thing happen. I had Citi as the 2nd. The first was great to work with - IndyMac/OWB btw. :-) Kudos. The gal at Citi - Felica killed my deal. The 1st hud submitted to IndyMac showed $6000 to the 2nd. And I got an approval! The 2nd…"
Oct 26, 2010
Theresa Young-Rock commented on Mike Linkenauger's group Bank of America Short Sales
""SS business is a game of chicken to see who can blink first” AMEN Sally, unfortunately SS are a huge part of our markets nationwide and we are subject to their abuse unless we choose not to work short sales. As pissed off as I am today I…"
Oct 20, 2010
Theresa Young-Rock replied to Jenny's discussion Short Sale Failure in the group Bank of America Short Sales
"BOA is a nightmare. Equator has only made things worse and now we are dealing with the "foreclosure freeze" in play that effects the REO market as well. What a mess we are in..... forgive me, I have the flue and today was not a good day…"
Oct 20, 2010
Theresa Young-Rock replied to Joshua Jarvis's discussion Suntrust Quickly Becoming the Worst!
"I had a closing with sunstrust, Michael Barnes was also my negotiator. He was very nice and always returned my calls and emails. The deal still took over 8 months to close. It was a nightmare. Mr. Barnes was great and he did keep the lines of…"
Jul 23, 2010
Theresa Young-Rock replied to Kathy Wegwert's discussion Bank Of America HAMP Eligibility in the group Bank of America Short Sales
"I know they are tight on that 31%. If your client is at 35.5% DTI then that does not look positive. I just read up on the new policy Fannie as of August 1st.…"
Jul 12, 2010
Theresa Young-Rock replied to Mike Linkenauger's discussion Is Bank Of America Improving Their Short Sale Processes? in the group Bank of America Short Sales
"I know 98 days seems like a long time but I've had them take as long as eight months to close a deal. I always tell my buyers and sellers to expect the worst. If it closes within 3-4 months be greatful but expect 8-10 months with boa and…"
Jul 9, 2010
Theresa Young-Rock replied to Mike Linkenauger's discussion Is Bank Of America Improving Their Short Sale Processes? in the group Bank of America Short Sales
"I submitted a BOA short sale on equator. 429K, the balance on the 1st with boa is 395K second is 165K. Buyer asked for 15K in closing and 5K in lender required repaires. They countered back with no CC assistance, no repairs, asked the seller that…"
Jul 9, 2010
Theresa Young-Rock commented on Angela Alfe's group MetLife Home Loans
"Hey Clay, Any luck getting a contact number for First Horizon? I'm trying to get in touch with them so I can submitt a short sale package and I can not get anyone to call me back. I go straight into a VM. I've left three messages and have…"
Jun 16, 2010
Theresa Young-Rock joined Angela Alfe's group
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MetLife Home Loans

Group to discuss short sales with Metlife Home Loans. MetLife short sale package, information and help.See More
Jun 16, 2010
Ellen Muzzio replied to Theresa Young-Rock's discussion Short Sale Second with Citi in the group Citi
"Has the homeowner stopped making payments to the 2nd with Citi (where it's been charged off)? We strongly suggest that sellers stay current with their 2nds (as they usually aren't paying the 1st) so we don't have to face this. Once…"
May 25, 2010
Theresa Young-Rock replied to Kathy Wegwert's discussion Bank requires name, loan# and property address on every piece of paper
"i've gone digital with my files and I love it. for $20.00 I went online and purchased a "PDF Fill" software and I can open my adobe files with PDF Fill and make changes, edit, etc. You can add a text box put in the account# and then…"
May 24, 2010
Theresa Young-Rock replied to Ali Shassian's discussion Listing agent is buying his listing in a short sale????
"I agree, I just closed one where the selling agent was also the buyer. It was disclosed and the lender approved the short sale and allowed the selling agent to keep the commission. If it is disclosed and the lender approves it, it is not unethical…"
May 24, 2010
Theresa Young-Rock updated their profile
May 7, 2010
Theresa Young-Rock added a discussion to the group Citi
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Short Sale Second with Citi

I am in the middle of negotiating a transaction were citi is holding a small second in the amount of 15K.  I was able to negotiate an acceptable short payoff with the first and even got them to agree to pay out 10,500 towards repairs that need to be done to make the property "lendable".  The first offered to pay the 2nd 1K to release their interest in the property.  The second will not accept.  They want $9,500.00 to settle the debt.  There is NO WAY to make that happen.  The first lender will…See More
Apr 29, 2010
Theresa Young-Rock joined Mike Linkenauger's group
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Citi

A group to discuss Short Sale programs with CITI Mortgage Company offer short sale help and strategies.
Apr 29, 2010

Profile Information

Occupation
Real Estate Broker
Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
Hampton Roads Virginia; Virginia Beach, Chesapeake, Norfolk, Suffolk, Hampton, Portsmouth
Short Sale Designations and/or Special Training
Equator Certified
Website
http://teamfavorite.com
Short Sale Transactions Completed
25-50
Put in todays date! This is to help stop spammers!
May 7, 2010
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Theresa Young-Rock's Blog

Equator

Posted on March 11, 2010 at 10:46am 6 Comments

Hey Gang,

I'm doing my first short sale using the equator program and I have a question;

When I checked the status is said "HELD". Does anyone know what that means. The status went from "assigned to a negotiator" to "HELD".

Any comments?

Comment Wall (2 comments)

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At 5:01pm on March 11, 2010, Angel Sims Wright said…
Theresa,
It has been my experience that "HELD" means they are getting an approval from management on the offer. So hopefully, that will work in your favor. Good Luck!
At 3:18pm on February 17, 2010, Mike Linkenauger said…
We're in the middle of a suntrust nightmare as well right now that we're hoping will end soon!

Was that one of our listings?
 
 
 

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