short sale: Is BOA required to follow short sale guidelines? - 01/24/10 09:53 PM
Is BOA required to follow short sale guidelines?  I showed a property today that is a short sale listing.  Later I learned that BOA holds the mortgage on the property and has told the listing agents that it will be 60-90 days before they will respond to an offer.  It is my understanding that if a lender accepted bail-out money they have to abide by the government guidelines for short sales and render an answer within 10 days.  Am I the one who is mistaken (it would not be the 1st time!!!) or is BOA thumbing their nose at the guidelines? … (7 comments)

short sale: Loss Mitigation - Time for an Overhaul??? - 07/24/08 11:37 PM
In today's market, we are faced with high inventories and, due to tougher mortgage qualifications, lower buyer pools.   Many people can't pay for the homes they own and are facing foreclosure.  Lenders are so overloaded with customers in default, that they can't even look at short sale offers in a timely manner.
I recently submitted an offer that was input on the lender's computer but never assigned to a person for review, despite daily calls to loss mitigation in an effort to stop a foreclosure.  The home in question is now back on the market, after the lender foreclosed, at a … (3 comments)

short sale: Act Now to Prevent Foreclosure - 12/15/07 01:46 AM
Are you or anyone you know experiencing financial difficulties?  Perhaps you are in a situation where you are no longer able to pay your mortgage payments.  Maybe your mortgage is more than the current value of your home. Don't wait until you start getting behind on the payments.  Act now to prevent foreclosure.  Talk to your lender about your situation  and ask them to work with you. 
Give me a call as well.  I will work with you and your lender to try to get your home sold quickly.  It may involve a short sale where the lender agrees to accept less than … (1 comments)