Started this discussion. Last reply by Anon_Negotiator Nov 10, 2011. 12 Replies 0 Likes
I have a BOA short sale that's extended until tomorrow. We have short sale approval on both the first and second liens (both with BOA). We actually have an approval letter on the first and a verbal…Continue
Started Feb 7, 2011 0 Replies 0 Likes
This lovely 3 bedroom/ 2.5 bathroom townhome features a single car garage, open family…Continue
Tags: Sale, Agents, Newnan, Metrobrokers., Coweta
Started this discussion. Last reply by Danny Kallay Dec 17, 2012. 11 Replies 0 Likes
Quite often, we angrily post discussions about some of the issues that we're having with certain lenders and Mike L. did the noble thing and began a post regarding our favorite lenders to work…Continue
Started this discussion. Last reply by Lisa Allen, CDPE, SFR, CSSG Feb 17, 2011. 1 Reply 0 Likes
I'm getting ready to list an FHA short sale with Central Mortgage Company as the loan servicer. Has anyone ever had any experiences with them? If so, please share.
Posted on December 5, 2014 at 4:00pm 0 Comments 0 Likes
The housing crisis has caused a great deal of stress to homeowners in hardship, and has pushed more than one out of every seven of them into the path of foreclosure. Options have been made available to homeowners trying to avoid foreclosure; options like repayment, mortgage modification, deed in lieu of foreclosure, Bankruptcy, and short sale. In this article we will take a look at these different options available to home owners who are in…
ContinuePosted on December 5, 2014 at 3:02pm 0 Comments 0 Likes
The Mortgage Debt Forgiveness Act of 2007 provided distressed homeowners with the ability to sell their homes via short sale without having to worry about including the amount of the waived balance in their yearly tax calculations. Prior to 2007, short sellers were provided a 1099 for the amount of the waived balance and it was taxed as additional income.
The Mortgage Debt Forgiveness Act of 2007 provided distressed homeowners with an avenue that provided an additional level…
ContinuePosted on October 29, 2014 at 10:22am 0 Comments 0 Likes
Ahhh.....another Tuesday and another email from Bank of America announcing yet another change with their short sale processing guidelines. HUD has just announced that now, their Servicers will NOT review any offers presented within the first 15 days of MLS exposure.
Sounds reasonable, right???? Well...here's the "Gotcha"....
It appears that this 15 day MLS exposure time clock begins ticking when the property is listed within the appropriate…
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Vanessa, have you tried the bofa short sale escalations dept.? That's where you need to go, tell customer service to forward you there. If you are still having problems let me know. They can usually help get things done in matters like this.
Our experience is that you rarely will get the name of a supervisor..most escalation issues are stonewalled at point of contact depending on the bank you are working with. If you are at risk of losing a contract, we find that its best to request the Supervisor on call especially if you are at an impass with the S/S rep.
Keep in mind, most S/S reps have no authority to overwrite standards...so you kindly ask to have the file transferred to senior staff. This has worked for us in the past.If you do get the issue escalated, make certain you have your points presented to make a good case when asking for an exception.
Good luck!