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21 Questions to Ask the Short Sale Seller - 11/24/10 11:06 AM
This blog post was written by Wendy Rulnick. If you list short sales, have any questions about short sales, or are thinking of working the short sale market, then I would encourage you to check out their site at www.shortsalesuperstars.com
Via Wendy Rulnick "Its Wendy!" Destin Florida Short Sales (Rulnick Realty, Inc.):
Quick! A potential short sale seller calls you to list his property. What questions do you ask? Here are a few to start the conversation.... 1. Who are the mortgage holders on your property? 2. Approximate balances? 3. Is your loan VA or FHA/HUD? 4. Do (2 comments)
Wells Fargo New Foreclosure Postponement Guidelines For Short Sales - 11/24/10 10:18 AM
Well....after all of the hoopla from last month's report that Wells Fargo will no longer postpone foreclosures on short sales, NAR reports that they've been in meetings with Wells (and several other large lenders) to address concerns regarding their short sale processes and REO disposition processes. Now, Wells is reporting that they WILL allow one (1) foreclosure postponement on a short sale if the following conditions are met...
1) Wells Fargo has an APPROVED short sale contract in hand (including all junior liens approvals as well).
2) Buyer's financing has been APPROVED or Buyer has POF
3) Closing (9 comments)
Would You Prepare A HUD-1 Settlement Statement To Present To Your Short Seller's Lender?? - 11/17/10 09:32 AM
Recently, I attended another short sale class (because we can NEVER learn enough about these lovely suckers) and was totally floored when the instructor handed out blank HUD-1 Settlement Statements, and began to "instruct" the class on how to complete them. I watched as a class full of Realtors who were fairly new to the world of short sales intently listened and filled out the form as instructed. I quietly listened to her (while making an attempt to not show the disguest and horror on my face) and allowed her to finish her "instruction". Afterwards, I asked, "why wouldn't you allow (2 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.