Short Sale Requirements Announcement
Chase and BAC now require signed Arms Length and Signed Waiver of Insurance Premium " BEFORE" they will grant approval of preliminary closing HUD!!!! That almost tubed two closings we pulled off to happen in the year 2012.
Don't let this be your surprise like it was ours!!!!
Thanks Mike L for the excellent job hosting on today's Webinar. Thank you to the special guests too. My wife Alison and I are new members living and working in Las Vegas. I'm the primary negotiator for our team and I'm pleased at a level I didn't expect to have some other folks to discuss and commiserate with about the mud, us short sale, agents must walk through most days we work the bank/servicer follow-up, status, acceleration calls. I still haven't figured out how to…Continue
Added by Mike & Alison Orci on December 19, 2012 at 9:40pm — No Comments
Added by Mike & Alison Orci on December 19, 2012 at 1:00am — No Comments
As of December 1st, 27.5% of the single family homes sold over the last 90 days were bank owned properties or short sales. At the beginning of the year distressed sales accounted for over 50% of our local sales. Although our short sale numbers have remained stable over the last 90 days, REO-bank owned properties have declined 60% over the same time period.…Continue
Added by ROBERT E STILES JR on December 17, 2012 at 9:26pm — No Comments
Added by Wendy McClure on December 17, 2012 at 9:14pm — No Comments
Has anyone had any luck with the State Employee Credit Union forgiving the deficiency amount after the Short Sale? Or does anyone have any suggestions as to how to handle this situation?
I AM IN DESPERATE NEED OF A SPECALIST IN MANATEE COUNTY FLORIDA. PLEASE CONTACT ME ASAP
Added by SW Ellis on December 7, 2012 at 10:30am — No Comments
I WOULD LIKE TO REFER A CUSTOMER TO A SPECIALIST. PLEASE CALL OR EMAIL ME. SWEllis@embarqmail.com or 850 997-1360. Thank you for your time.
Added by SW Ellis on December 6, 2012 at 4:00pm — No Comments
I currently have a short sale with Greentree as the 2nd. They have been difficult to deal with and have dragged their feet on purpose as though they are trying to kill the transaction. I spoke with a manager today and he told me that he didn't have documentation that I know that my negotiator has. I then spoke with the negotiator again and he said he has it and even described in detail the fax cover that I used that listed all the documents in the Fax.
The buyer agent is…Continue
As of November 1, 2012 the Federal Housing Finance Authority initiated new Standard Short Sale Guidelines that apply to all Fannie Mae and Freddie Mac mortgages. This guidelines are to help streamline short sales with all Fannie Mae and Freddie Mac loans. You can find a summary of the guidelines…
Added by John McBride on December 4, 2012 at 2:33pm — No Comments
As of November 1, 2012 the Federal Housing Finance Authority initiated new Standard Short Sale Guidelines that apply to all Fannie Mae and Freddie Mac mortgages. This guidelines are to help streamline short sales with all Fannie Mae and Freddie Mac loans. You can find a summary of the guidelines here or the guidelines in detail below.…Continue
I was informed by a representative at Chase that in the state of California, it is illegal for a borrower/short sale seller to offer a cash consideration to the lender to secure short sale approval. I have done this before, with B of A. Is anyone aware of a specific statute that prohibits this? Thank you, David.