Mary Ellen Holleran's (maryellenholleran) Blog

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Real Estate Agent - Holleran Real Estate - North Carolina#230941

ARCHIVED BLOG POSTS

2011 

This is an important story that addresses short sale fraud. There are locally represented national investment companies trying daily to purchase short sale properties. It's a different scam than the one in this article but I expect they will come dressed in many different ways. Watch out! http://...
06/25/2011
It the proverbial rock and hard place. You are doing the best you can for your clients but the agent on the other side of the transaction is vertually absent. You are having to contact the landlord yourself to get required documents, negotiate deposits or whatever it takes to get things done. Cal...
06/25/2011
http://www.seetheproperty.com/79867
06/23/2011
I have the lenders explain, in writing, various sections of the approval letter to the sellers in a short sale. These letter spell out the terms of the agreement, payoffs, and possible future payments. Though I have a good knowledge of the language I think it best left to the lender. I think it a...
06/23/2011
I just never worked with them before and was surprised to see their named attached to the processing. I start a short sale with them tomorrow and I'm told that they are one of the worst companies to work with. I'm not looking forward to a bad experience so if anybody can give me a few hints about...
06/22/2011
I am involved in a short sale with a five home HOA run by the homeowners. They are owed one year plus prorated for this year-around $1100. BOA only approved $500 and of course, the buyers will pay the remainder of the year. The HOA will not release the lien, the sellers won't pay for it, and buye...
06/21/2011
In theory the Equator System is a fabulous idea. Having short sale documentation in a centralized location seems to be the answer to a lot of problems. The piece of the puzzle that is missing, however, is that the banks are not responding to the emails that you send them through this system. This...
06/21/2011
This is happening in the short sale world with really unpleasant results for many. Like the appraiser unfamiliar with the neighborhood and overprices the home, the lender has no idea what the home is worth. They have not seen it, don't know the area, but only what they want to "get" for the home....
06/19/2011
This week I have gotten several calls from BOA social media department saying that they have read some of my blogs. I'm guessing they would be the ones that mention their name. They want to assure me that they can help should I be having trouble with any of my short sales. This is a nice touch bu...
06/16/2011
I at the end of a very difficult short sale where my clients, one week from closing, have decided that they should just let the bank foreclose and then they will file bankruptcy. There is so much wrong with this scenario that I'm not sure where to start. I told them to take a few days to think ab...
06/15/2011
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Mary Ellen Holleran

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smartphone(917) 993-3538
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