Option One Assesses Short Sale Admin Fees - 10/25/09 09:08 AM
OPTION ONE ASSESSING SHORT SALE ADMINISTRATIVE FEES
We don't see many Option One bank short sales.  That is a blessing.  They are 2nd only to Countrywide/Bank of America on my list of "who is the worst lender to do a short sale with".  Option one has been notorious for not reducing the short payoff below full market appraisal.  Now they have added another "what the heck are they doing?" step in their short sale process.
I submitted a short sale package to them about a week ago.  I got a call from a loss Mitigator within seven days - on a Saturday no less. … (4 comments)

When Short Sale Assumptions Become Truisms - The Case of The LALAs - 10/14/09 09:47 AM
LALAs.  Largely Acceptable Legacies of Assumptions. 
A term from my “corporate days” pertaining to incorrect methods, statements or policies perceived by some to be relevant or “the way things are or are supposed to be” and becoming acceptable “truisms” by others.   
I just got a very frantic call from one of the Realtors for whom we negotiate their short sales.  We are currently working on three (3) of his short sales from Bank of America.
He was beside himself because of the “new policy” from B of A requiring the seller to pay or come to the table with 10% of the … (3 comments)

 
Jim McNinch Short Sale Specialist Houston TX, Spring TX, Woodlands TX (Trademark Loss Mitigation ) Rainmaker_large

Jim McNinch Short Sale Specialist Houston TX, Spring TX, Woodlands TX

Spring, TX

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Trademark Loss Mitigation

Address: PO Box 1998, Spring, TX, 77383

Office Phone: (281) 376-5812

Cell Phone: (832) 330-4588

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