Comments for Real Estate Short Sales http://shortsalesr.us Selling a House When You Cannot Pay Off the Bank Sat, 24 Jul 2010 02:24:18 -0700 http://wordpress.org/?v=2.9.2 hourly 1 Comment on HAFA Short Sales Explained by Terry Parrish, Associate Broker http://shortsalesr.us/short-sale-stories/hafa-short-sales-explained/comment-page-1/#comment-3772 Terry Parrish, Associate Broker Sat, 24 Jul 2010 02:24:18 +0000 http://shortsalesr.us/?p=714#comment-3772 Hi Tim - Took your webinar class on HAFA through the CRS site - Your's was one of the best short sale courses I have taken. With numerous designations, and all the "Short Sale Instructors" out there - your teaching technique and obvious experience with short sales simplified the HAFA program for me. Received an email you will be teaching another through the CRS site - I will be there. My husband and I are taking a 6 hour class at the Phoenix Association of Realtors on Monday on FNMA and FDMAC HAFA. As a "seasoned agent" it is imperative in this market to keep up - it has changed for all time, I believe. Thanks for sharing your experiences! Terry Parrish, Assoicate Broker West USA Realty - Phoenix, AZ Hi Tim – Took your webinar class on HAFA through the CRS site – Your’s was one of the best short sale courses I have taken. With numerous designations, and all the “Short Sale Instructors” out there – your teaching technique and obvious experience with short sales simplified the HAFA program for me. Received an email you will be teaching another through the CRS site – I will be there.
My husband and I are taking a 6 hour class at the Phoenix Association of Realtors on Monday on FNMA and FDMAC HAFA.
As a “seasoned agent” it is imperative in this market to keep up – it has changed for all time, I believe.
Thanks for sharing your experiences!
Terry Parrish, Assoicate Broker
West USA Realty – Phoenix, AZ

]]> Comment on “Don’t Cut Commissions” – Fannie Mae by Tim Burrell http://shortsalesr.us/short-sale-dos-and-donts/fannie-mae-prohibits-cutting-commissions/comment-page-1/#comment-3761 Tim Burrell Fri, 16 Jul 2010 14:17:06 +0000 http://shortsalesr.us/?p=77#comment-3761 The article talks about earning a regular commision for even though there is much more work in a short sale, not a premium commission. The Realtor does not have to subsidize the investment strategy of the seller/borrower or the profit margin of the bank because they should get properly paid for a lot of work requiring a lot of talent. The article talks about earning a regular commision for even though there is much more work in a short sale, not a premium commission. The Realtor does not have to subsidize the investment strategy of the seller/borrower or the profit margin of the bank because they should get properly paid for a lot of work requiring a lot of talent.

]]> Comment on Don’t Practice Law, Unless You’re a Lawyer by Tim Burrell http://shortsalesr.us/short-sale-dos-and-donts/dont-practice-law-unless-youre-a-lawyer/comment-page-1/#comment-3760 Tim Burrell Fri, 16 Jul 2010 14:12:00 +0000 http://shortsalesr.us/?p=203#comment-3760 In the short sale approval, there should be some language concerning the release of the balance of the debt. If the seller/borrower gets it in writing that the short sale is in full settlement of the note, they should be able to rely on that to avoid any future collection efforts by the lender. The difference between just closing the sale, i.e. releasing the lien of the deed of trust, and total elmination of the debt i.e. fully satisfying the note, should be discussed either by the Realtor or legal counsel. In the short sale approval, there should be some language concerning the release of the balance of the debt. If the seller/borrower gets it in writing that the short sale is in full settlement of the note, they should be able to rely on that to avoid any future collection efforts by the lender. The difference between just closing the sale, i.e. releasing the lien of the deed of trust, and total elmination of the debt i.e. fully satisfying the note, should be discussed either by the Realtor or legal counsel.

]]> Comment on Can Buyers Speed Up a Short Sale Review? by Tim Burrell http://shortsalesr.us/short-sale-stories/can-buyers-speed-up-a-short-sale-review/comment-page-1/#comment-3759 Tim Burrell Fri, 16 Jul 2010 14:08:45 +0000 http://shortsalesr.us/?p=503#comment-3759 Speeding up the sale is similar now to 2009. Bank of America has adopted the use of Equator to submit your shor sale, and the technology has sped up the review of the package. One way to speed up the process with Equator is to submit your materials perfectly and respond more quickly than the allowed time limits, then know the time limits for the response by the Bank of America negotiator. If the negotiator is beyond the allowe time, you can escalate the file and move it more quickly. Speeding up the sale is similar now to 2009. Bank of America has adopted the use of Equator to submit your shor sale, and the technology has sped up the review of the package. One way to speed up the process with Equator is to submit your materials perfectly and respond more quickly than the allowed time limits, then know the time limits for the response by the Bank of America negotiator. If the negotiator is beyond the allowe time, you can escalate the file and move it more quickly.

]]> Comment on Can Buyers Speed Up a Short Sale Review? by elyse http://shortsalesr.us/short-sale-stories/can-buyers-speed-up-a-short-sale-review/comment-page-1/#comment-3758 elyse Fri, 16 Jul 2010 04:27:35 +0000 http://shortsalesr.us/?p=503#comment-3758 Hi Tim, We are in the same short sale situation as many of the people above. We are trying to buy one from bank of america. we do not at this point know who the investor is. has anything changed in terms of the tactics listed above in terms of our speeding up the process from 2009? Thank you! Elyse Hi Tim,

We are in the same short sale situation as many of the people above. We are trying to buy one from bank of america. we do not at this point know who the investor is. has anything changed in terms of the tactics listed above in terms of our speeding up the process from 2009?

Thank you!
Elyse

]]> Comment on Or, You Could Crash and Burn with an Untrained Short Sale Agent by Certified Nursing Assistant http://shortsalesr.us/featured/or-you-could-crash-and-burn-with-an-untrained-short-sale-agent/comment-page-1/#comment-3755 Certified Nursing Assistant Thu, 15 Jul 2010 06:06:59 +0000 http://shortsalesr.us/?p=737#comment-3755 Valuable info. Lucky me I found your site by accident, I bookmarked it. Valuable info. Lucky me I found your site by accident, I bookmarked it.

]]> Comment on Don’t Practice Law, Unless You’re a Lawyer by Laurie Gengo http://shortsalesr.us/short-sale-dos-and-donts/dont-practice-law-unless-youre-a-lawyer/comment-page-1/#comment-3754 Laurie Gengo Thu, 15 Jul 2010 00:58:44 +0000 http://shortsalesr.us/?p=203#comment-3754 Short sales raise many legal issues! We have several litigation cases where the lender is seeking a deficiency, yet lead the client to believe they were accepting a lessor payout to forego the debt. We have no regulations or laws on the issue which causes major issues. Plus, lawyers often are not involved to represent the seller. People think their closing lawyer is handling all short sale issues but rarely is that the case! Many consumers are being misinformed and often, misled. We need statutes and regulations on these issues to protect everyone involved! Short sales raise many legal issues! We have several litigation cases where the lender is seeking a deficiency, yet lead the client to believe they were accepting a lessor payout to forego the debt. We have no regulations or laws on the issue which causes major issues. Plus, lawyers often are not involved to represent the seller. People think their closing lawyer is handling all short sale issues but rarely is that the case! Many consumers are being misinformed and often, misled. We need statutes and regulations on these issues to protect everyone involved!

]]> Comment on Chose a Trained Agent to Rescue You with a Short Sale by salamande http://shortsalesr.us/featured/chose-a-trained-agent-to-rescue-you-with-a-short-sale/comment-page-1/#comment-3752 salamande Tue, 13 Jul 2010 23:23:41 +0000 http://shortsalesr.us/?p=741#comment-3752 Great post keep up the good work Salamande http://www.kickspro.com/ Great post keep up the good work

Salamande
http://www.kickspro.com/

]]> Comment on “Don’t Cut Commissions” – Fannie Mae by landscape gardener melbourne http://shortsalesr.us/short-sale-dos-and-donts/fannie-mae-prohibits-cutting-commissions/comment-page-1/#comment-3735 landscape gardener melbourne Tue, 29 Jun 2010 13:40:21 +0000 http://shortsalesr.us/?p=77#comment-3735 Thanks for the post. Keep the great work. Thanks for the post. Keep the great work.

]]> Comment on “Don’t Cut Commissions” – Fannie Mae by Liz http://shortsalesr.us/short-sale-dos-and-donts/fannie-mae-prohibits-cutting-commissions/comment-page-1/#comment-3730 Liz Sun, 27 Jun 2010 16:07:49 +0000 http://shortsalesr.us/?p=77#comment-3730 I disagree with this decision or recommendation. If a seller is taking a loss because a property hasn't appreciated as expected and there is less equity available, everyone should take a loss. The seller should not pay pay premium comissions if the sales price does not comensurate. I disagree with this decision or recommendation. If a seller is taking a loss because a property hasn’t appreciated as expected and there is less equity available, everyone should take a loss. The seller should not pay pay premium comissions if the sales price does not comensurate.

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