List your tips that have worked for you in completing a successful Short Sale transaction.

Hello Everyone,

I have been more of an reo agent these last few years but in the last year have been very successful in listing and selling a few short sales. I really want to tap more into short sale listings this year. Does anyone have tips they could give me to help me increase my short sale listings :)  What are you all doing to get these short sale listings. The short sale listings I got last year have been referrals from friends. Thank you in advance

If this is not the correct place to post this then I apologize in advance and would appreciate your guidance.

I had a listing prospect over a year ago and we have kept in contact and the homeowner has been going through the Foreclosure process and mid-year in 2011 was counter suing the XYC Lender (saying that he started a Foreclosure action against XYZ  Mortgage Corporation. 

..(HERE IS THE INFO HE SENT ME) ...I have two solid instruments upon the property that are superior to…

http://realtormag.realtor.org/daily-news/2012/02/03/fannie-mae-gains-more-short-sale-authority&WT.cg_n=RMO&WT.cg_s=RSSDaily

The largest banks are looking at $5 billion and $10 billion in costs for a new mortgage refinance plan the White House would send to Congress. President Obama announced a plan to allow private label mortgages, those who are not guaranteed by Fannie Mae and Freddie Mac, to refinance through the Federal housing Administration.…

I am an a agent with RE/MAX and know that Bank of America has a partnership with Re/MAX. Does anyone know if BOA is giving RE/MAX pre-approved short sales to its brokers or agents?

I am curious to know if anyone has created a power point presentation for short sale. I would love to see what people are doing. I am in the process of creating one and looking for ideas.

Tanya Endicott

tanya@dallashometeam.com 469-450-2566

Ways to Stop Foreclosure

People who are facing a foreclosure now have quite a few ways to stop it. Being on a hardship can be tough on its own, but losing your home can add a whole new dimension to it. A home can also be…

On December 20, 2007, H.R.3648 Mortgage Forgiveness Debt Relief Act was signed into law to relieve distressed homeowners from having to pay taxes on the amount of debt that was forgiven in a refinance or loan modification, short sale, or foreclosure.

The truth is these people do not have the money to pay the taxes anyway, which is why the Act passed with overwhelming bi- partisan support and President George W. Bush signed it into law.

If This Act is Not Extended Three…

I received a phone call this morning from the Bank of America short sale escalation team, as a Los Angeles Short Sale Agent, I thought it was about one of my B of A short sales. The representative on the call explained that they would be testing out a new web tool in case any escalations are needed. This could be used if Bank of America were taking too long to respond on the short sale, for foreclosure sale extensions, more time needed on a closing etc. I'm supposed to be receiving an…

Make a "New" New Year's Resolution to Get Out of Your Underwater Home!

Mortgage Forgiveness Debt Relief Act tax breaks set to end in 2012

Sicklerville NJ: We all begin our New Year with Resolutions and most of them are the same. Spend more time with family, make more money,quit smoking, quit drinking, lose weight. In 2012, the resolution of choice for many will be... Get out…

Using FHA 203K Loan to Purchase a Fixer-Upper…

Five Agent Tips to Insure Short Sale Approval

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BAC has emailed me to use the BAC-HAFA short sale site for email, but didn't tell me how to get there.  I think (too frazzled after failure to be sure) I may have tried to access it last week but was not able to successfully complete sign-up.  Or I may have been on some other BA site.

If anyone has non-MLS or upcoming listings that meet the following criteria, please let me know. I have investment clients for multiple units this weekend and inventory in the MLS is scarce. Thanks!

REO or Short Sale Approved
Acquisition at 50-70% of Market Value
North of Hwy 90/IH10 in San Antonio
Built after 1996
1700+ SF
Up to $150,000 per unit

A third quarter report through Moody’s Investors Service said that servicers are beginning to sort and work through some of their foreclosure backlogs.  Moody’s report also shows that loan modifications are on the decline and servicers are opting to loss mitigation alternatives such as …

The Better Business Bureau listed Mortgage Loan Modification Scams as one of their Top 10 Scams of 2011 and we’re not surprised.

We talk to many distressed homeowners who were looking to lower their mortgage payments or refinance and fell victim to one of these scams.

After investigating thousands of scams last year, the Better Business Bureau divided them into…