Archive for the 'Short Sales & Foreclosures' Category
A CHASE Short Sale Approval Letter
I just settled one of the more complicated short sales I have handled yesterday. I thought I would share with you what the first page of a short sale letter looks like.
Bank- CHASE
Approval- In around 60 days
Amount Forgiven- Around 50K
Hurdles- TAX LIEN, Bank Removal Of Closing Help, Bad BPO
First Listed...
A Real Estate Certification That Matters
There are a lot of certifications out there for agents to achieve. Most consumers such as yourself have not clue what they mean nor do you care. You are simply looking for an agent who can get the job done with excellence.
I have never been a certification chaser since taking...
Fannie And Freddie Roll Out Their HAFA Short Sale Programs
Fannie Mae and Freddie Mac have been processing short sales for years. However, when the HAFA plan was released on April 5th of 2010 Fannie and Freddie did not participate.
Yesterday they released their semi complex plans on how they will participate in the program for the next couple years beginning...
What Is An Arms Length Transaction?
When selling short, the lender that is taking the loss has a vested interest in making sure that they are getting market value for the property. One of the pre-cautions most of them put in place is making sure that the contract is within "Arms Length." To ensure this, most...
Bank Of America’s New Short Sale Program
Bank Of America has been know for having one of the slowest short sale processes in the market. I completed one that took around 7 months. I have heard of others taking much longer. This did not get any easier when BOA inherited Countrywide.
Nevertheless, they are now leading the way with how they...
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