short sale approval process: Why You MUST Call The Short Sale Lender Every 3 Days - 12/03/08 09:06 AM
If you don't call the Short Sale lender EVERY 3 days...
1. It might be a month before the short sale lender lets you know you are missing paperwork (they "lost" it)
2. You won't know you're not "authorized" (they misplaced your letter)
3. You won't know they NEVER got your short sale package, (although you have the fax receipt)
4. They might never "refer" the file as a short sale (Countrywide cases) because it's still in loan modification process
5. They won't call YOU with a counter offer until they "get" to it next week
6. You might not get … (17 comments)
|
short sale approval process: Short Sale Seller Does the "Right" Thing - 10/08/08 05:54 PM
Today I got a call from a short sale seller. He already listed his house with another Realtor, but had read my blog and wanted to tell me about his scenario. I think he wanted an "ear" to listen to his story, and give him some reassurances. I was happy to oblige. The gentleman had done a cash-out refinance on his house several months earlier- receiving about $15,000 back from the transaction. Since then, his fortunes had plummeted, his roommate had moved out, and he could no longer afford his mortgage payments. His mortgage was backed by FHA, and he … (19 comments)
|
short sale approval process: Notes From A Short Sale - 07/31/08 02:38 PM
I just had another Destin Florida short sale approved. Following are my notes starting with the most recent going back to the beginning of the Short Sale Approval Process with Countrywide. This might be useful to show buyers' agents and potential buyers to help them understand some of the processes the listing agent goes through to get approval.
7/29/2008 4:22 PM Sara from COUNTRYWIDE Calling she is faxing APPROVAL!
7/29/2008 3:42 PM CALLING COUNTRYWIDE looking for approval letter if hear nothing by Thursday will escalate to team leader...
7/28/2008 2:40 PM CALLING COUNTRYWIDE no update
7/28/2008 11:26 AM CALLING COUNTRYWIDE we said OK on July … (13 comments)
|
short sale approval process: Short Sales: For Buyer's Agents - 03/12/08 05:18 PM
Are you the selling agent in a Short Sale market? Arm yourself with information for a successful transaction:
1. Prepare your buyer by going over steps in Buying Short Sales.
2. Ask the listing agent if he has gathered the information necessary to submit the Short Sale package, including: letter of authorization, financial statement, recent pay stub or last quarter profit and loss, recent bank statement, last year's tax returns, hardship letter, and payoff if more than one lender. If the listing agent has not already done so, prepare the buyer for a longer wait. I would also ask what the hardship is. If … (14 comments)
|
|
|
|
;)
;)
;)
