"The first question that pops in my mind is why was the borrower denied HAFA? BoA doesn't like to give a full release and will do whatever they can to avoid it. I've had BoA close out HAFA files converting to traditional for the…"
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Latest Activity
Wendy Smith replied to John E. Bonnett's discussion No leads in 6 months as a Preferred Partner in the group Preferred Partners"gosh John - something doesn't sound right...
what area do you service? is it a rural area where there is not much action? I received a fair amount of referrals, not all work out and I too am a good closer, but in real estate - part…"
Wendy Smith replied to Mike Linkenauger's discussion Membership in The Short Sale Specialist Network"I've been a member for less than a year. Shortly after joining I upgraded to Preferred Member and then when available, I also signed on for BuyerLink. While it's too early to tell how BuyerLink will work out for me; I can…"
Wendy Smith replied to Julie Tinkey's discussion Wells HAFA Disaster in the group Wells Fargo Short Sales"Joy - although I am HAFA Certified, I cannot tell you where in the regs buyer contribution is or is not allowed. I am speaking from experience."
Wendy Smith replied to Julie Tinkey's discussion Wells HAFA Disaster in the group Wells Fargo Short Sales"yes, I haven't done a buyer contribution with WF but I did Chase, BoA & there's another one but Lord I can't remember the others without going thru the files. Once they close the details blur :-)
Believe or…"
Wendy Smith replied to Julie Tinkey's discussion Wells HAFA Disaster in the group Wells Fargo Short Sales"no, no, no - something is all wrong. Did Wells agreed to the their net on the HUD? If so, then it is not their business how much & from where goes to any junior lien. The buyer 'has the right' to contribute $x to…"
Wendy Smith replied to Wendy Smith's discussion Job Transfer hardship in the group HAFA Short Sale Program".......not effective until 2/1/2011.
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Pamela L Doss replied to Wendy Smith's discussion Job Transfer hardship in the group HAFA Short Sale Program"
Great News! New Gov. rules home owners no longer has to meet the 31% DTI. So, I'd call BOA back this morning to see if the new Gov. rules have been put in place."
Smitty replied to Wendy Smith's discussion Job Transfer hardship in the group HAFA Short Sale Program"Yep...31 DTI is gone. They don't have to verify a lot. I think it opens a lot of doors for strategic default but this is good for your homeowner."
Wendy Smith replied to Wendy Smith's discussion Job Transfer hardship in the group HAFA Short Sale Program"oh! you are so right! Great thought - thanks!!"
Raymond A Cardoza replied to Wendy Smith's discussion Job Transfer hardship in the group HAFA Short Sale Program"I heard today that with the new HAFA rules, that Lenders do not have to verify the 31% DTI. I haven't confirmed this, but definitely worth checking out!!"
Wendy Smith added a discussion to the group HAFA Short Sale Program
Job Transfer hardship
I know that a job transfer (FL to AZ) is a valid hardship for HAFA purposes but I did not think the 31% DTI requirement had to be met with a job transfer (borrower is still current on FL house). I have a team lead from Default Services (for BoA) stating that the borrower must meet the 31% DTI. That doesn't make sense at all. Anyone know where I can get clarification on job-transfer-hardship guidelines? See More
Wendy Smith replied to Debbie Parkans, CDPE, CSSG, CRS's discussion HAFA Not allowing payment of Title Insurance Policy in the group Bank of America Short Sales"Nah, the negotiator must be mistaken. Title insurance is a normal & customary seller expense in Florida too. How unfortunate it had to go all the way to Matt's office to get straightened out!"
Wendy Smith replied to Debbie Parkans, CDPE, CSSG, CRS's discussion Approved HAFA with 2nd in the group Bank of America Short Sales"who is AMS - another HAFA outsourcer? "
Wendy Smith replied to Larry Lang's discussion Why do the banks not tell us what price they want? in the group Bank of America Short Sales"Wow, you are trying to use logic in the Short Sale World... No, no, no - logic would first see Realtors are not the enemy, banks need Realtors. Then it would become obvious that banks should actually work WITH Realtors - yes, perhaps it would…"
Profile Information
- Occupation
- Real Estate Broker
- Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
- Pinellas County and south west Pasco County, FL (includes Clearwater, Tarpon Springs, Palm Harbor, Oldsmar, Safety Harbor, Holiday, Port Richey, New Port Richey, Trinity, Pinellas Park, Kenneth City, Largo, Crystal Beach, Ozona, Dunedin, Seminole, East Lake)
- Short Sale Designations and/or Special Training
- SFR (Short Sales and Foreclosures Resource), HRC (Home Retention Consultant)
- Short Sale Transactions Completed
- 100+
- Put in todays date! This is to help stop spammers!
- May 11, 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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Comment Wall (1 comment)
- At 1:50pm on May 27, 2010, Mike Linkenauger gave Wendy Smith a gift…
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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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