I Was a Fly on FHA's Wall - 08/15/09 04:14 PM
I have been negotiating short sales as 100% of my business (we're a third party negotiator) for four years now.  I have always wanted to know how FHA deals with some of these lenders that screw up FHA short sales.
We have built some great relationships over at FHA from numerous (and semi-regular) escalations of the many FHA files we negotiate.  It continually amazes me how those banks jump to attention pretty dang fast once the big boys get involved.
Kind of like in grade school when your 5th grade brother walked up to the first grade bully who was giving you … (1 comments)

What do Bank of America and the book, "Twilight", have in common? - 08/12/09 05:01 PM
This is a warning to anyone that has any type of credit account at Bank of America especially if it is revolving.  Many of you know that I was once a vice president at Bank of America before leaving to start Alliance Short Sales, a third party short sale negotiation company. 
Bank of America has changed in the last four years; massively.  They have truly become like a vile animal cornered with no escape. 
Actually for those of you who have read the Twilight series, I liken Bank of America to the Newborn Vampires. 

Vicious, blood thirsty creatures looking for … (2 comments)

Update on Midland Mortgage and FHA - 08/10/09 08:23 PM
Several people wanted to be kept up to date with the happenings from my blog post on August 3rd.  I won't rehash the details but here are the results.
We got FHA on the phone to find out what was going on.  Turns out Midland Mortgage was just blowing smoke.  Catching a guy in a technicality that doesn't really exist.  Here is a quote from my senior negotiator after he talked with FHA.
"The folks at Midland are probably giving the run-around on this one...typical for Midland, they aren't exactly a peach to deal with (i.e. our Buckeye closing).
The property … (5 comments)

USAA Short Sales; Are you kidding me? - 08/04/09 10:34 AM
We don't do very many USAA short sales in our office, but we brought one in yesterday. I was completely blown away by how harsh their guidelines for a short sale are.  USAA is extremely aggressive.  They create an interesting parallel with my seven year old son.  (More on that later)
Most banks don't have the seller's best interest in mind, and I understand that. They really shouldn't.  I know that makes me sound harsh but if you understand the psychology of the bank you would agree. 
The short version of a banks psychology is this: the bank's greatest motivation is … (2 comments)

Midland Mortgage Declines FHA Short Sale Due to Mother's Death - 08/03/09 05:39 PM
It sounds crazy but it is true.  An agent called me Friday afternoon after having gotten off the phone with Midland Mortgage.  Midland stopped her in her tracks before she even got started.  "Sorry," the rep said, "the borrower can not pursue a short sale in this situation.  I wish there was something I can do but we have to follow FHA guidelines."
Here is the back story to bring you into the loop.  The borrower, we will call him Henry, owns a home which is his primary residence with an FHA loan.  IN 2006 Henry's wife divorced him and left him … (0 comments)

 
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Matt Side

Spokane, WA

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Alliance Short Sales

Address: 3911 N. Cedar St., Spokane, WA, 99205

Office Phone: (509) 747-1101 x 2

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This is a blog that journeys through the process of a short sale. We will discuss shortsale negotiations, pricing strategy, BPO, and even how to postpone foreclosure auction dates.



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