short sale: Lets Get Our Short Sales Approved By Sharing Information!
- 01/20/10 10:57 AM
Do you need to know who to contact at the bank or lender to get your short sale offer approved? Are you working on a short sale or recently completed working on a short sale and can share a needed contact at that bank? Lets help each other to get our short sales approved and sold, by working together we can accomplish miracles. We are here to help each other with contact information and advice, share your experience and information here. Be our guest...Take what you need but remember to also give what you can. This will only work if everyone … (2 comments)
short sale: Beware of the Deficiency Judgment; The Ultimate Short Sale Fatality
- 01/13/10 04:33 PM
Well intended Realtors often ask me for advice on getting their short sales approved, however a question that I should be asked is; "how to get a short sale approved where the seller is assured of a discharge from all debt obligations? or a promise that a future deficiency judgment will not be sought." This is the key for doing a truly "successful" and complete job for your client. Getting the short sale approved so that they can sell their home is a battle, getting it approved so that they will not have their lender(s) knocking at their door for money in 3-4 months after the … (14 comments)
short sale: When closing a short sale don't make this possibly "fatal" mistake!
- 08/16/08 12:03 PM
I just closed another successful short sale, but It could have been a disaster because of an easily overlooked paperwork situation that had come to my attention that many agents probably make, and live to regret. In this situation both notes for the 1st and 2nd mortgages were held by the same bank and both investors had agreed to the short sale. Each of them signed off an approval separately,however after the close of escrow date had been moved up by only three days from the original HUD date, due to the buyer's loan processing delay, a delay which was approved … (3 comments)
short sale: List house as shorts sale BEFORE late on payments!
- 06/24/08 01:40 PM
I have had many agents and mortgage professionals tell me that the lenders will not consider allowing a seller who is "upside down" on their mortgage to sell their home with a short sale unless they have stopped making their mortgage payments, some well intending agents will tell this to their distressed home sellers, IT IS NOT TRUE! The best time to list the house as a "short sale" is as soon as the seller realizes that they can't afford to sell it any other way because they owe more than the market value of the home and can show that … (6 comments)
short sale: Secret "formula" for getting a short pay offer accepted by the lender
- 09/19/07 03:48 PM
By using my secret "formula" sheet I just got the bank to accept my buyer client's offer on another short pay! The listing agent called me and told me that she was very impressed with how I worked the numbers to get them to take what initially appeared to be a lower offer than what she expected them to accept. Here is my secret for those who are interested: It works especially well on the smaller homes in the neighborhood or tract. I took the most recent sales(about 8 months) in the neighborhood tract, which had consisted of slightly to much larger homes. I added … (28 comments)
Do you need to know who to contact at the bank or lender to get your short sale offer approved? Are you working on a short sale or recently completed working on a short sale and can share a needed contact at that bank? Lets help each other to get our short sales approved and sold, by working together we can accomplish miracles. We are here to help each other with contact information and advice, share your experience and information here. Be our guest...Take what you need but remember to also give what you can. This will only work if everyone … (2 comments)
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