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Short Sale Q and A

Got short sale questions? I have been successfully closing short sales since 2005 and I have dealt with just about every lender, every scenario. If you have a question, post it here and I will do my best to help.

Website: http://activerain.com/blogs/short_sale_expert
Location: Chicago
Members: 213
Latest Activity: Jul 30, 2013

Discussion Forum

Sellers Concerned About Extent of Credit Damage

Started by Ricky O. Gibson, Sr. Last reply by Aileen Potter Jul 30, 2013. 8 Replies

I’m working with a seller in Ft Worth, TX who are current on the mortgage but whose house is underwater. The husband accepted a job transfer to Phoenix, AZ and now has the house in Ft Worth that will…Continue

FHA Short Sale List at the Payoff Amount! Huh?

Started by Terrence D. Langford Mar 25, 2013. 0 Replies

I listed my client home with (Bank of America) as a FHA short sale. The owner who has defaulted on her mortgage payments and has failed two loan modification guidelines. We have a short sale and a…Continue

Going to initiate short sale with 5/3. Need answer to deficiency waiver

Started by marc lederman. Last reply by marc lederman Mar 20, 2013. 2 Replies

I am initiating a short sale with 5/3. 1st is for 1,300,000 2nd is $200,000. Both loans with 5/3. I have heard they will not negotiate on deficiency waiver. Anyone have any experience on this? 1st…Continue

BOA and POF's

Started by Smitty. Last reply by Aletha C. Hicks Jan 26, 2013. 6 Replies

I have an offer in on a property.   Cash offer.   BOA rejected his investment account as a legitimate way to pay for the property.  I've had previous BOA offers and they allow a POF letter from the…Continue

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Comment by Robert Todd Schroth on March 30, 2011 at 8:22am
If the second is discharged they will not be able to short sale. Yu will need to contact the 2nd see if they are willing to settle at all on it. It is most likely going to be sold off on the 2nd mortgage market and they are going to want either the full balance or at least 20% to settle it out..... Good luck
Comment by Natalee N. Thurston on March 30, 2011 at 12:39am
Question about a second being charged off. What are their options after that has been done and they want to Short Sale their home? What would their options be? Washington State.
Comment by Paul Rowe on March 29, 2011 at 7:17pm

Anyone know anyone at Bank of NY. they are the investor, BAC is the servicer but I need to contact BofNY.

 

Thanks.

Comment by Wendy Smith on February 20, 2011 at 10:28am
I'm in the free trial period using Realty Juggler - they offer a lengthy free trial period so that you can truly see if it fits your needs.  The cost is substantially less than ss commander with no set up fee.  I'm still learning the bells & whistles and the tech support folks are great.  I'll probably go with the program as it is web-based and I always have all data at my finger-tips no matter where I travel.   I like the mortgage contact database that ss commander has but not evenough to spend a monthly fee for it...  that's just my 2 cents
Comment by Debbie Parkans, CDPE, CSSG, CRS on February 19, 2011 at 11:11pm
$39 a month - used to take me several hours to complete a package, now I upload, hit create package and it makes the cover letter, adds all the loan numbers etc.  It also has the contract management system for your short sales along with the ability to email out of the program and it saves a copy.
Comment by Andrew Sawyer on February 19, 2011 at 10:14pm
whats the cost?
Comment by Dan Hawkins CRS SFR CSSG CDPE on February 19, 2011 at 10:00pm
Short sale commander is wonderful especially
If you do many short sale transactions at once
Comment by Debbie Parkans, CDPE, CSSG, CRS on February 19, 2011 at 9:44pm
I have been using Short Sale Commander for about 8 months and I really like it.  My only complaint is that it was not compatible with MAC but thier web based platform is supposed to be up and running any day now to solve that.  THe customer service has been and it has sure streamlined the process of preparing packages.
Comment by Sandra Gaston on February 19, 2011 at 4:58pm
I am looking for a good and reliable short sale management software. Any advise?
Comment by Joseph C. Alfe on February 4, 2011 at 10:44am
Zaza, a non arms length transaction is not against the law, unless the lender forbids it in writing.  Most lender will not allow this transaction.
 

Members (211)

 
 
 

Discussion Forum

Sellers Concerned About Extent of Credit Damage

Started by Ricky O. Gibson, Sr. Last reply by Aileen Potter Jul 30, 2013. 8 Replies

FHA Short Sale List at the Payoff Amount! Huh?

Started by Terrence D. Langford Mar 25, 2013. 0 Replies

BOA and POF's

Started by Smitty. Last reply by Aletha C. Hicks Jan 26, 2013. 6 Replies

Chase HAFA ?'s

Started by Dawn Rupersburg. Last reply by Aletha C. Hicks Jan 26, 2013. 1 Reply

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