fha short sales: More Changes to HUD's FHA Pre-Foreclosure Sales Program!!! - 10/29/14 12:17 AM
Ahhh.....another Tuesday and another email from Bank of America announcing yet another change with their short sale processing guidelines. HUD has just announced that now, their Servicers will NOT review any offers presented within the first 15 days of MLS exposure.

Sounds reasonable, right???? Well...here's the "Gotcha"....
It appears that this 15 day MLS exposure time clock begins ticking when the property is listed within the appropriate price as valuated by the FHA "As-is" appraisal.
What does this mean????
It's quite simple, it means that if you're lucky enough to contract the property at a price that's reflective of the … (0 comments)

fha short sales: ...But My Buyer Has Cash........ - 05/17/10 12:21 PM
Maybe it's just me....BUT...Whenever a buyer's agent calls me on the phone to let me know that they're submitting an offer on one of my listings AND they tell me (normally with every other sentence) that their buyer is paying cash and is not obtaining financing, I already know what's coming next....a supa-dupa low ball offer!
To all of the buyer's agent who're guilty of this practice....let me tell you a little secret (shh...don't tell anyone else), but...whenever we sit down to the closing table, IT'S ALWAYS A CASH DEAL!!! I have yet to close a deal in which the seller … (3 comments)

fha short sales: Price Approved FHA/HUD Short Sale!!!! - 05/17/10 11:42 AM
 
PRICE APPROVED FHA/HUD SHORT SALE!!!
                                                               
 APPROVED PRICE: $49,900
# DAYS FOR APPROVAL:  53 DAYS
 
This beautiful brick split level home sits on partially finished basement AND has a fenced yard!!! Seller will concede up 1% of sales price in closing costs!! Must close with Seller's attorney.
 
This is another FHA/HUD Short Sale Success Story. My distressed sellers had a verifiable hardship stemming from a salary reduction and an illness causing decreased work hours. Sellers will receive $1000 back at closing to assist in relocation expenses. 

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