shortsale specialist: Another Homeowner Saved From Foreclosure In Charlotte
- 06/08/11 09:36 AM
We just helped save another homeowner from foreclosure in Charlotte! It is always rewarding to save a homeowner from foreclosure. Especially when a homeowner thought they had no alternative to a foreclosure. This loan was with Wells Fargo and it was a FHA loan. She was a single mother who had some major expenses to come up that put her off track on her bills. She reached out to us in a last ditch effort to get some advice. After looking at her situation we determined that she was eligible to do a shortsale. We just closed on her house … (0 comments)
A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs.
Myth #1 The Bank Would Rather Foreclose than Bother with a Short Sale
This is one of the most common misconceptions. The reality is that banks do not want to foreclose on your property … (3 comments)
Authorization to Release Information Sellers Hardship Letter Seller's Financial information 2 years w2's 2 months pay stubs 2 months bank statements Supporting Hardship Info - HOA liens, medical/disability statements etc. Any Repair issues for the property Comparable sales for the property Contract Settlement Sheet First mortgage holder may ask for a payoff amount from the 2nd These items are a must to even get the Shortsale process started. Without these it is almost … (0 comments)
shortsale specialist: Shortsale Approved With No Mortgage Insurance Payment
- 03/21/11 06:18 PM
I was surprised when I got an email saying that " This Shortsale has been approved with no mortgage insurance payment." Our team of Shortsale Specialistswas working a shortsale transaction with a bank called IBM. We had gotten an offer on one of our listings that had a $400,000.00 mortgage. The offer came in at $275,000.00 which we figured would not get accepted by the bank. The bank (IBM) said their BPO came back at about $300,000.00. So the bank countered the buyer with that price. Finally we settled on a purchase price of $290,000.00. The bank said the mortgage insurance company would … (3 comments)
shortsale specialist: More Banks Prefer To Do Short Sales
- 03/17/11 09:22 AM
More Banks Prefer to do Short Sales. I was at a conference this weekend and there were a few asset managers there for various banks. Well, this conference was more about REO than it was Short Sales. So I will really surprised when the asset managers started talking about Short Sales. I am located in Charlotte North Carolina and like anywhere else; there are several Short Sales in Charlotte. A local attorney in Charlotte also said that he has seen a huge increase in Short Sales in Charlotte. There seems to be a trend of more banks wanting to do Short … (4 comments)
We just helped save another homeowner from foreclosure in Charlotte! It is always rewarding to save a homeowner from foreclosure. Especially when a homeowner thought they had no alternative to a foreclosure. 
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