In the business of short sales when you finally get a bank that makes a solid effort to effectivly handle a file you feel like telling the world. We have a GMAC short sale insured by FHA. We have found lately that Bank of America and Wells Fargo have been so SLOW on their FHA files that I am alm
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03/29/2012
As most of you know, my lovely wife Jessica Side (EvoReal) and I work together on short sale listings. She will likely not toot her own horn so I have to for her. She closed more short sale transactions in 2011 than any other agent in the Spokane WA Multiple Listing Service. That however is n
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03/28/2012
My primary business is negotiating short sales for homeowners in Washington State. I primarily negotiate in Spokane County but always have a handful of short sales in process in the Seattle area too. Even though my business is short sales, when I sit down with a potential client I always make
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10/11/2011
It has happened a day late and millions of dollars short, but Bank of America is now letting the substitution of buyers in the short sale process without starting the whole process over again. You would think a bank the size of B of A would have figured this out years ago. Here is an example wha
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07/12/2011
Fannie Mae strikes again. We have been working a short sale with IndyMac bank since February 2, 2011 to start the negotiation process. More than enough time to process a short sale approval and close before a foreclosure auction of April 8, 2011. Unless Fannie Mae is the investor on the loan it
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04/08/2011
I am sure you have seen the Legal Bulletin 188 put out by the NW MLS. My broker forwarded it to me this morning and I am sure yours forwarded the same to you. The email addresses two items of which I wanted to make an immediate response so all of the real estate agents that work with us at Allia
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12/30/2010
This article is a continuation of one I posted several months ago with some updated information. To read the original article visit: http://6fd70e2.activerain.com/post/1576094/fannie-mae-no-longer-postponing-foreclosure-auctions-bad-news-for-short-sales We just had another Fannie Mae approved sh
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09/21/2010
HAFA has been around for months now. However, its adoption by lenders seems to be moving at a glacial pace. The banks have done their best to put up any and every roadblock they can. One of their favorites has been, "This is a Fannie Mae (or Freddie Mac) loan, and as such, is not eligible for
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07/16/2010
"Help! Get me out from under this house!" More and more sellers want to escape from their high payments-even sellers who can afford those high payments. Those sellers are pursuing what banks call a "Strategic Default." The term, Strategic Default, might be new to you, but we are hearing it mor
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06/15/2010
I made a prediction in late April that we would have buyers bail out of short sale transactions as the tax credit neared its end, and that has certainly proven to be true. May has been a really interesting month for many real estate agents selling short sales. Our office alone has had seven app
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05/25/2010
