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Washington Mutual Alert- They've crossed the line big time ! - 07/30/08 07:34 PM
So as you may have read over on Mike Mueller's blog entry (WaMu Locks Single Mother Out of Her Own Home), today I had a horrible phone call, the kind you don't want from a client. Someone had changed the locks on her house! We are in the middle of short sale negotiations right now. We are close, they've ordered an appraisal , we're getting there and wow, what a shock to get this call from my client. For those of you who are, or have ever, done a short sale with WaMu, you know they are notoriously slow to react, slow (29 comments)
On another note - Wells Fargo Short Sale - 07/19/08 04:48 PM
So on Countrywide, if you've been following along, things have slowed down again. In fact, the one that I got a call from a negotiator right away.. has stalled, and strangly this one , with a new offer we had just sent over , the first is NO LONGER SHORT! So its only the (also Countrywide) second that will be short. You'd think a negotiator would want to just get this off her desk and be done.. But we'll see... But on another one... 30 days start to finish I just got an approval of a Wells Fargo (ASC) short sale. (22 comments)
One of short sales most asked questions . . . - 07/14/08 02:39 PM
HOW MUCH DOES IT COST TO DO A SHORT SALE? That is a question we're asked alot. The answer is NOTHING. At least not monetarily. We treat these sales as a typical real estate sale whereas we're basically paid nothing unless and until the deal closes. So we sign you up as a typical seller. We complete, and you sign, the listing agreement and its ancillary documents, the statewide disclosures as is typical, and then we'll give you a few other pieces to complete specific to the short sale. But we don't get paid unless we close the deal. In fact, we don't (1 comments)
Anatomy of a recent Countrywide Short Sale (updated) - 07/10/08 12:51 PM
So, we're not there yet, but what a relief that a big lender like Countrywide has made it a mission to streamline the process. In case you didn't see my post on June 29th, let me recap and let you know where we are in case you're following along: June 14th: Submitted authorization to communicate in anticipation of offer(s) on property. June 17th: Called. Confirmed authorization received and went thru "telephone intake" with CW rep. They asked me questions about the sellers financials, situation, hardship and then questions about the buyer's offer. We passed and we were sent on to the short sale (14 comments)
Who's watching the short sale store? (Part One) - 07/09/08 02:13 PM
I know any of you who also work the short sale market have probably experienced the same frustration. You're cruising along thru the bank's short sale process... things are ok... they have verified they have what they need... they order BPO.... they get it back... they assign a negotiator... then ... what??? They have lost your packet and you need to resend the whole thing? How does that happen? Then you call the next day and they say, oh no we're not missing everything just these few things. So you send them. Takes a week to get in. Oops, well that (4 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.