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florida short sale help: AGENT PAYS FOR ATTORNEY - THE CONTINGENT SHORT SALE ATTORNEY FEE AND CONFLICT OF INTEREST - 02/03/10 10:06 PM
The beginning of this year brought to mind the recurring problem of attorneys that are hired by the real estate agent to represent the seller. Unfortunately, too often the advice the attorney gives to the "client" is designed to make the deal happen - at dire cost to the client seller. Realtors, attorneys and sellers should be aware of the "greed side" of our human nature and guard against being put into these unfortunate situations. The scenario begins with the selling agent having a short sale listing and providing a "service" to the homeowner to negotiate the short sale and provide (6 comments)
florida short sale help: SHORT SALE FLIPS - TITLE INSURANCE PROHIBITED - 06/08/09 08:31 PM
The short sale flip apparently is alive and well for some investors - and it is causing havoc with title insurance underwriters. Now the title insurance underwriters are making their case simply by declaring that they won't insure such transactions. This decision is not surprising. As pointed out in SHORT SALE FLIP - QUESTIONABLE METHODS, some investors have seen the reluctance amongst knowledgeable (and ethical?) title insurance agencies to question and usually refrain from being involved in such transactions. The result was the new "twist" of using one title closing agent (and underwriter) for the initial sale and another title closing agent (and (76 comments)
florida short sale help: LENDER SHORT SALE ACCEPTANCE LETTER EXAMPLES - READ WITH CAUTION! - 02/04/09 07:53 AM
What is a short sale? When giving lectures I like to use the definition as follows: The sale of a real estate property for a price that is less than the total amount necessary to fully satisfy the actual present encumbrance (mortgage) indebtedness on the real estate property. Often I see a different description, one that says, The sale of real estate when the lender accepts less than its mortgage amount and forgives borrower from paying the deficiency. Which is correct? A look at the short sale acceptance letters lender's provide is going to tell us the real truth about short (23 comments)
florida short sale help: LOW BALL SHORT SALES - PLAYING THE ODDS? - 11/11/07 07:37 PM
Short Sales are the buyer road to riches - if you believe the promo advertising that is all over the place. But the road is not a short one nor is it a smooth one. It is best covered with professional help and guidance. The buyer attempts to get the bank to give up gads of lost equity is the goal of the short sale investor. The question is how much is the bank going to give up and how much will the seller think reasonable (if the seller has any economic ability to still influence the sale). Let's talk about two important issues: the low ball (0 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.