bank of america: What's price got to do with anything?
- 11/23/09 10:00 AM
Hi folks, Have you noticed that the contract price means absolutely squat these days? Nada. Zilch. It used to be that once a purchase price was negotiated you could be fairly certain that was the price the property would close at. Not anymore. Properly pricing real estate has always been one of my strong points. I know the price is right. The Buyers and Sellers know the price is right. The ones having the problem are the Lenders.It doesn't even matter what side of the transaction the Lender is on. If they are the Short Sale lender they want … (29 comments)
bank of america: Will I have to sign a promissory note if I do a Short Sale?
- 11/19/09 08:36 AM
Possibly. I have found that more times than not the Seller is not only willing to but wants to make a cash contribution or sign a note to get the deal done. It helps them to feel better about their situation. Most people WANT to pay their bills and honor their obligationsOur job as your Short Sale Agent is to give you, the Seller, the facts and let you make the decision. Here are two responses recently received from Bank of America and how they were presented to my Sellers. What Bank of America is really saying is "Yes we approved … (14 comments)
bank of america: Bank of America Short Sale Approval.
- 08/06/09 07:12 AM
Short Sale Approval from Bank of America in less than 60 days. Property is located in Southern Dunes Country Club in Haines City Florida. Amount owed....$225,000. All on a first lien with Bank of America. Contract accepted on June 6th for $136,000 cash. Buyer and Seller provided by Tutas Towne Realty, Inc. Complete Short Sale package faxed to Bank of America on June 17. Broker Price Opinion (BPO) completed on July 8. Short Sale Negotiator assigned on July 14. Short Sale approval received on August 4. No contribution required from the Seller. Closing scheduled for August 11. Contractual closing date … (25 comments)
bank of america: Hey Mozilo....Your cash ain't nothin' but trash!!
- 03/10/08 06:45 AM
Here we go again! As most of you may have heard, according to The Wall Street Journal, Countrywide (CW) is now being investigated by the FBI and the Department of Justice for securities fraud. According to the Associated Press. "Investigators are looking at evidence that may suggest that company executives knew their mortgage securities would see many more defaults than predicted in its public documents, one source told the Journal." "Congressional figures showed that Countrywide lost $1.2 billion in the third quarter of 2007 and another $422 million in the fourth quarter. The company's stock fell 80 percent between February and the end of the … (36 comments)
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