Posts Tagged “report”
Apr
27
2011
 
Volvo Cars denies report of possible Saab bidPosted by Usual in Bank approved short sales, tags: Cars, denies, possible, report, Saab, VolvoVolvo Cars denies report of possible Saab bid Read more on Reuters via Yahoo! India News
Mar
23
2011
Always Get the Preliminary Title Report - Short Sale EducationPosted by Usual in Lender Approved Short Sales, tags: always, Education, Preliminary, report, Sale, Short, titleAlways Get the Preliminary Title Report - Short Sale Education Why Submit Articles? 0 && $.browser.msie ) { Register Email Home Page > Finance > Real Estate > Always Get the Preliminary Title Report - Short Sale Education Always Get the Preliminary Title Report - Short Sale Education Posted: Jun 26, 2010 |Comments: 0 ]]> The Preliminary Title Report provides us with a wealth of information as we prepare to list and market a short sale listing. This information helps us develop a strategy, find tools, and streamline our efforts with the short sale process. Upon the initial interview with a potential client, there may be many assumptions that we will initially make, and these assumptions can be clarified with examination of the preliminary title report. What are some of the nuggets of information that are available? Loans have been transferred It is very common for loans to originate with one lender only to be resold on the secondary market. The original lender may choose to outsource the servicing of their loan to a third party. The lender may write off a loan and send their loan to a collections agency. The preliminary title report will identify the current owners of all the existing loans on the property, providing us with the correct destination where we will be submitting a short sale application. Notice of Default, Notice of Trustee Sale If any of these are filed against the property, you will be aware of the potential timeline you have to market the property and find a buyer. You may need to take action to obtain a postponement of a trustee sale by contacting the lender to request additional marketing time. Loan Origination Information The date of the loan origination may be significant with respect to government programs that benefit the homeowner. For example, the Home Affordable Foreclosure Alternative (HAFA) program applies to loans that originated before January 1st, 2009. The report will also show if the loan is the original loan, or if it has been refinanced – and help determine eligibility for programs such as the “Mortgage Forgiveness Debt Relief Act of 2007″ or the “Home Affordable Mortgage Program”. Other non-mortgage liens There are several other parties that can attach a lien on a property. You will find mechanic liens from contractors who have not been paid, IRS or state tax liens for unpaid past due taxes, city liens for code violations, Homeowner Association liens for delinquent HOA dues, private party liens from loans from individuals, child support liens for past due support payments. For every single lienholder, there is a need to deliver an approval letter detailing the lienholder’s agreement to release the lien, and the agreed terms for the lien release. If you discover that a lienholder will refuse to negotiate for the release of their lien, do not take the listing, as it will not be possible for the title company to complete the close of escrow. Look out for our future blogs/articles from our Short Sale Leadership Series content. To view our blog updates, visit www.whbsolutions.com/blog
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]]> Questions and Answers Ask our experts your Real Estate related questions here… 200 Characters left I was denied a Hamp mod due to NPV caculations. My lender will not explain these terms to me. They said they cannot help me. I need to short sale and get out. Can u please help me Rate this Article vote(s) Feedback Article Tags: Latest Real Estate Articles
short sale timing, buying a short sale, foreclosure timing. (03:58)
Short Sale Secrets Clip 2
Learn how to sell a home in a short sale in this video from experienced realtors and mortgage brokers. (02:54)
Learn what foreclose means and what you can do to get back on track -Learn about Short Sale? (00:42)
Learn how to: Bill and Dwan Twyford discuss the details of the short sale and offer many other options for investors to use when assisting the homeowner in the beginning stages of foreclosure. A.D. Kessler’s Real Estate Roundtable #357 Clip 3 from Creative Real Estate Magazine at www.cremag.com. (01:04) Looking for a Colonial Mexico Home? Try Yucatan Real Estate Many Americans and Canadians like the idea of spending their retirement in a place with some of that older charm; an ideal place to look is Yucatan real estate. By: Finance> Playa del Carmen Real Estate – Ideal Locations for Homes and Land The most “visible” choice in Playa del Carmen real esstate are the many condos which line the beachfront and surround the main tourist areas. While these are excellent choices, it’s also good to know where to look homes or land. By: Finance> Mexico Rentals – Trying out Life in Mexico, Before Buying Have you been considering living in Mexico? If so, one option is to try it out with a Mexico rental before making the commitment of buying. The following are some of the advantages you can enjoy. By: Finance> Life in Playa del Carmen Villa Imagine living within walking distance to the beach, in a gated community with bike trails and many green areas. Imagine being a short drive from the stores, restaurants, shops and services of one of Mexico’s most important tourist centers. By: Finance> Will Tourism be Good for Cheap Mexico Beachfront Lots in Campeche? Buyers looking for a quiet beachfront getaway in Campeche may wonder, how will growing tourism affect or change the lifestyle these lots offers? Considering following points, you will see that tourism has only good things things to offer. By: Finance> Mexico Real Estate MLS Listings – The Advantage of Variety When buying Mexico real estate, its good to consider a variety of options, just like anywhere else. For this reason, early in your preliminary search process, it is good to consult an online MLS listing serving that offers you a variety to choose from. By: Finance> Planning for Playa del Carmen Retirement; Homes and Land for Sale Playa del Carmen home and land purchases offer a number of advantages for retirement. The following are a few of those advantages. By: Finance> Are There Still Super Deals on Playa del Carmen Condos? Some buyers may tend to think that Playa del Carmen’s market has boomed, and prices are high; the good news is, however, that right in the middle of this booming market, there are excellent deals to be found in Playa del Carmen condos. By: Finance> Follow through with your commitments The timeline for the short sale process can be extremely long and will test your patience. Once a file is submitted to the lender, it is processed according to the bank timeline. While you may be limited in your ability to try and speed up the process, you do have the ability to avoid items or circumstances that cause delays in processing time. By: Finance> Document All Conversations and Transaction Details For all of our short sale transactions, we log the date and details of every conversation, fax submission, and commitments made. Keeping meticulous records show the level of professionalism that you bring, and inspire the trust and cooperation with your bank representative. By: Finance> Use Phrases That Promote Collaboration Too many times, we approach the phone call with a request for something we want from the bank representative: assignment to a negotiator, escalation to management, speeding up the processing time, better terms on the approval letter. Because the short sales process takes a long time, we tend to be very results driven, and focus on achieving milestones as fast as possible so that we don’t lose the buyers in a short sale. By: Business> Verify Buyer is Committed to Timeframe One of the responsibilities of a listing real estate agent is to evaluate the strength of the offer. In a retail transaction, this would involve examining the financial details of the offer: the amount of the earnest money deposit, the amount of down payment, the credit score and potential for qualifying for the loan needed to finance the purchase. A secondary consideration may be the ability to close quickly. By: Business> Before every single call, remind yourself of your intention to set a tone of collaboration. It is too easy to jump right into a conversation, where it becomes a simple mechanical exchange of information. Of the hundreds of calls that a lender’s representative takes in a week. By: Finance> Review Important Purchase Contract Details with Lender When reviewing a short sale application, the bank representative will only look for a few things on the purchase contract: the purchase price, a short sale addendum, for all signatures and initials, and a date indicating the validity of the purchase contract. As long as these items exist, the purchase contract will be marked as received, and they will move on to analyzing the other pieces of documentation. By: Finance> Providing Professional Guidance to Distressed Homeowners As a realtor, you have a scope of services that you can provide to a seller: listing the property, marketing and showing the home, negotiating with buyers, filling out the purchase contract. However, short sales transactions have tax, credit, and legal consequences. A good place to start would be to have your seller look for answers from trusted sources, such as the HUD web site: www.hud.gov. This website has general information about the consequences of a short sale. By: Finance> When a Buyer Walks Away - Short Sale Education The short sale process is lengthy, and each day that goes by gives a potential buyer an opportunity to back out of the transaction, to look for another property, to have their personal circumstances change affecting their ability to qualify for a loan. When the buyer walks, you may see weeks or months of effort being potentially wasted. If there is a scheduled trustee sale, you are now faced with a difficult situation of finding another buyer before the home is foreclosed. By: Finance> Add new Comment Your Name: * Your Email: Comment Body: *
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Author Navigation My Home Art Lee has 51 articles online Articles Categories Advertising Accounting ]]> Need Help? Site Links Webmasters Business Info Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License. For more information on becoming a Short Sale Education Leader in your community, join WHB Solution’s community of Short Sale Success and join short sale experts at www.whbsolutions.com/members
Feb
13
2011
Report: Baltimore-area home prices down 17% since mid-2007Posted by Usual in Bank approved short sales, tags: Baltimorearea, down, Home, mid2007, prices, report, sinceReport: Baltimore-area home prices down 17% since mid-2007 Read more on Baltimore Sun
Aug
26
2010
Bank BPH SA UK Regulatory Announcement: Half-yearly ReportPosted by Usual in Bank approved short sales, tags: Announcement, BANK, Halfyearly, Regulatory, reportBank BPH SA UK Regulatory Announcement: Half-yearly Report Read more on Business Wire
Aug
21
2010
Special report: Flipping, flopping and booming mortgage fraudPosted by Usual in Lender Approved Short Sales, tags: booming, Flipping, flopping, fraud, Mortgage, report, SpecialSpecial report: Flipping, flopping and booming mortgage fraud Read more on Reuters via Yahoo! News |
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