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short sale: Red Flags of a Short Sale Approval Letter - 09/29/10 03:36 PM
Congratulations, you finally received an approval letter from the bank! You note the expiration date and you have plenty of time to negotiate with the second (if applicable) to close the deal on time.
But wait, did you really read the approval letter? Some banks are adding additional terms to this letter (raising the sales price, asking the seller to come up with cash to close, etc.).
Be sure to double check the approval letters from the first  AND second bank, if applicable. Make sure everyone is dialed in on the rules to the game! And there are no hidden surprises that … (4 comments)

short sale: What's your experience with a short sale processor? - 05/27/10 01:07 PM
I'm looking for feedback on short sale processors that have their own attorney. If you have used the service, would you share with others your experience please?
… (1 comments)

short sale: Plan B for Short Sale Sellers Creates Win-Win Transactions! - 11/09/07 12:28 PM
Here's an excellent example of creating a win-win short sale transaction for the seller, buyer and bank!
Seller has 3 loans on a property. An offer comes in for less than the total loan amounts. The seller has great credit and has continued to pay mortgage payments on time, but must move due to change in employment. The seller asks the bank in 3rd position to release the recorded lien on the property so that it can be sold, THEN creates an UNSECURED lien with the seller to pay back for a period of time AFTER close.
The seller wins because their … (0 comments)

 
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Diana Turnbloom

Martinez, CA

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