Representing Home Sellers (Shortsales)

Discuss how to list and sell property in foreclosure. Marketing strategies, farming, working with lenders, disclosures, liability, and other issues that are unique to short sale and foreclosure listings.
Submitted by Michele from CA - 02/06/2012 - 2:13pm

I have a Short Sale listing and I am seeing in the Foreclosure Radar ads that there is a way to use FR to get an approval on the purchase price.
Thanks for your response.

Submitted by Amanda B Abernathy from GA - 02/03/2012 - 7:20pm

Met Life Short sales? I heard they are going out of business. I have had no luck with them . any help would be awesome,

Submitted by Pamela Roming from CA - 12/11/2011 - 5:20pm

Does anyone know the rules? Especially regarding who pays what fees?

Submitted by Pamela Roming from CA - 12/11/2011 - 5:15pm

Since California is not a super-lien state, the bank has no incentive to help pay delinquent HOA dues in order to foreclose through trustee sale. So if seller is insolvent and buyer is unwilling to pay seller's delinquencies especially after waiting four months for bank approval of their offer (which they are sure is too high now that the market has shifted once again), how can a short sale be completed if there is a HOA lien against the property? What incentive does the HOA have to accept an offer in compromise?

Submitted by peter from CA - 12/01/2011 - 9:31am

above- in the question section

Submitted by Cory Rangel from CA - 11/17/2011 - 2:34pm

I have a short sale getting ready for an approval and the 1st Lien Holder will not pay for a City Landscaping Violation Lien. They state that in the State of CA the Sr Lien Holder does not pay for non subordinate liens and it is not allowed. If the home goes into foreclosure, will this lien get wiped out, or does the bank or future owner need to pay that lien? Thanks in advance for some assistance. I'm trying to get facts to take back to the asset manager.

Submitted by John Leffler from CA - 11/03/2011 - 11:35am

I have a listing coming up and have never dealt w/ Ocwen. I'm just hoping to pull off a miracle and close in a month.

Submitted by Lance from CA - 11/01/2011 - 2:21pm

I recently had a loan transfer from CITI Mtg after only being approved for 3 days. They transferred it to Vericrest Financial so i wanted to know if anyone's dealt with them and what's your feedback if any?

Submitted by DEB from MI - 10/26/2011 - 12:34pm

WE ARE APPROVED FOR A SHORT SALE BY THE FIRST AND WORKING WITH THE 2ND. WHILE THE FIRST AGREED TO SETTLE FOR LESS AND CONSIDER THE DEBT PAID IN FULL, I AM WONDERING IF THEY CAN PURSUE COLLECTION OF ESCROW SHORTAGE OR UNPAID LATE FEE'S? OR IS EVERYTHING WIPED OUT WITH A HAFA SHORT SALE?

Submitted by Sue from NV - 10/18/2011 - 11:53am

Cash investor at las vegas, prefer area 89102 or 89103. If you have leads that owners can not keep up with payment, no Junior liens, please contact me. I can close in a week.
mengweisunrockclimbing@gmail.com
3474531178.

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Sue