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Mortgage Insurance Company Wants a $17k Note From Sellers. Now What?

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Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

 

DiscussionsRepliesLatest Activity
Jean Costanzo

In negotiations with met life/ first horizons short sale for 6 months and they sold it to NATION STAR yesterday

Does anyone have any suggestions .  on 5/20 they said we would know in 30 to 45 days  we called every week had it escalated , they forwarde…

Started by Jean Costanzo

4 yesterday
Reply by Jean Costanzo
Estella Drake, CDPE

Bank of America - AMS from Sacramento California Wow! I did it!!!!

Estella Drake Happy to say I closed a HAFA RASS Short Sale with BofA-AMS today...only took 94 phone calls from start to finish!!! I did it…

Started by Estella Drake, CDPE

4 on Friday
Reply by Enrique Vasquez-Plaza
KB Keller Williams

Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K

Does anyone know of any options for a seller when the second mortgagor PNC refuses to participate in HAFA? Has anyone seen the first mortgag…

Started by KB Keller Williams

4 on Friday
Reply by Enrique Vasquez-Plaza
Jerri Schick

Mortgage Insurance Company wants a $17k Note from sellers

This is a Chase short sale and the mortgage company has come back with a demand for a $17k interest free note from my sellers.   Does anyon…

Started by Jerri Schick

10 on Friday
Reply by Brian Avery
Patrick Thurmond

Does a lien attached to all fixed equipment?

What's your take on this? Owner of a property is having to short sale his house. He's insisting that he is taking his generator (not portab…

Started by Patrick Thurmond

1 on Friday
Reply by Harry Clay
Darlene Pieracci

Signing docs tomorrow and seller has decided not to pay HOA delinquent fees.

Just found out the seller is backing out of paying the $3900 in delinquent fees to the HOA and we are signing docs tomorrow.  I'm not payin…

Started by Darlene Pieracci

10 on Thursday
Reply by Richard
pinkribbonlossmitigation

BOA has come back with an MI contribution on an 80% Lot Loan!???

has anyone run into a similar situation? My seller had an 80% LTV lot loan an a vacant lot in northern Florida. The developer went belly u…

Started by pinkribbonlossmitigation

3 on Thursday
Reply by pinkribbonlossmitigation
Maria Tascon

New Equator procedures for back up offers when a buyer walks away

I have been working a short sale with BofA through Equator.  I am the listing agent.  Last week, the buyer that we have been working with f…

Started by Maria Tascon

9 on Thursday
Reply by Maria Tascon
Lev Mills

Any luck with short sale mailing list? 30,60,90, 120 non pay pre-nods

Has anyone had any luck with a direct mail or door knock campaign using a short sale mailing list?   What is your conversion on the list?  …

Started by Lev Mills

14 on Thursday
Reply by DIDA Hansen
Irene Medina, PA CRS GRI CDPE

Has anyone dealt with DCU as a second on a short sale????

I have been negotiating short sales for more than 4 years and this is the first time I have gotten a flat out denial from a 2nd. The lawyer…

Started by Irene Medina, PA CRS GRI CDPE

4 on Thursday
Reply by Irene Medina, PA CRS GRI CDPE

 

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Comments (3)

Daniel H. Fisher
www.FisherHermanRealty.com (704) 617-3544 - Charlotte, NC
MCRP - Charlotte Real Estate, NC or SC

Great series of posts with some solid advice from experienced Short Sale agents. With the playing field not always level and the rules constantly changing, it is amazing we get shorts approved and closed at all.  Thankfully not all are difficult.

Aug 21, 2011 08:41 AM
Eleanor Thorne
Equity Resources - Cary, NC
Advantage Lending 919-649-5058

I refer people everyday to this site, the information available is WONDERFUL!

Aug 23, 2011 05:53 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Thanks Eleanor!!!

Aug 24, 2011 12:28 AM