Do not promise your short sale homeowners a moving incentive until we talk to them. Here’s why!
Why are we so good at Short Sale Negotiation in Massachusetts and New Hampshire??? Because we KNOW the forms you need! Massachusetts Short Sale Difference between RMA form and UBA form for your Financials So what’s the difference between all the financial forms from your lender?!?!? This quick video will show you the two major […]
CLOSED! North Andover Short Sale Condo with Lisa Sevajian – straight HELOC with Wells Fargo This was actually a first for us. We have negotiated plenty of HELOCs in second position, however, on this condo in North Andover, there was no primary mortgage. For some reason, this loan was written as a HELOC so the […]
FANNIE MAE ANNOUNCES NEW SHORT SALE GUIDELINES If you are an agent in Massachusetts or New Hampshire that specializes in short sales you should be aware of new guidelines posted by Fannie Mae recently that affects the LISTING of your short sales. Initially, I had some short sale investors up in arms, until I thoroughly […]
The Drive By… There are certain buzz words in short sales that make me cringe. DRIVE BY BPO happens to one of those phrases. I called into SPS (Select Portfolio Services) last week. We are working on a property that is extremely time sensitive as there is an auction date in January. When I spoke […]
Ok, I’ll admit. I LOVE short sales. LOVE LOVE LOVE THEM. I know I’m in a vast minority. Not everyone loves the challenge, nor can rise to the occasion. I TRULY love short sales in Massachusetts and while most people give the eye roll when I say we are an attorney state, I think most […]
Now, five and ½ months is not historically long in short sale time lines, but it’s long enough for me considering I submitted the same file four times, three with the same buyer and ended up with the same negotiator ALL but this last time. This is the end of one of the most frustrating deals I’ve ever encountered, mainly because the STUPIDITY of the team at Chase astounded me. Now in case you’re not up to speed on this sale, check here for my BPO quandary. Yes, even getting a BPO ordered a second time around with the EXACT VALUE of our offer, miraculously, our file ended up closing as the NET to the investor wasn’t yielding them enough.
We’ve had a lot of new homeowners call us lately for assistance with short sales. We assign these listings to the more experienced agents we’ve worked with. We’ve worked with agents from Keller Williams, Remax, Century 21, Weichart, and many others. On occasion we have to work with a new agent. We work with the […]
It’s been a crazy week for us. We had three closings, a lot of scrambling, driving and then two listings came in today that we assigned out to the Realtors we work with. (Side note: Congrats Cheryl Dwyer on Cohasset!) On occasion, we have a homeowner call us that lives in an area that we […]
I’ve learned some interesting things from the agents we work with. I can’t tell you the number of times I’ve had an agent call into the office after a BPO was finished only to learn the BPO agent was also an REO agent for the same lender. This is a BIG red flag. We try to do our homeowner FIRST and make sure the person valuating the property is NOT the same person who will get the listing if the property is foreclosed upon. Sometimes, they slip through the cracks.