Ben's Short Sale Insights

By
Real Estate Agent
RECENT BLOG POSTS
I received an e-mail where a guy made the argument that it's actually in the investor's best interest for them to make short sales so tough. Here is what the e-mail said. "Dear Ben, The logic you outlined for when a SERVICING AGENT (not all servicing agents are banks!!!!) should approve a short s...
02/23/2010
Question #1: I am working on a short sale with BBT, the note is for $409,000 and there is a second mortgage with PNC for $114,000. BBT agreed to market the home and do a short sale for $399,000, we had three offers and one came back at $450,000, after presenting the pre-HUD1 with the offers they ...
02/23/2010
Question from an agent: "I have a seller who recently purchased another home, makes a good living, but will not be able to make both payments. He cannot rent the home for 1/2 of the current payment. The CMA puts the house about $50K under the mortgage amount plus commissions. Is it realistic for ...
02/22/2010
Skip down if you don't want to read the Q & A. Question #1: "I enjoy your Q and A among other things. Provident has told my seller he cannot do a short sale till he is delinquent. They are denying his Short Sale. How have you handled this?? He is trying to maintain his credit, he lost a job, savi...
02/19/2010
I recently talked to someone who did a loan modification with HSBC. I couldn't believe how easy the process was for them. They didn't have to wait 60 days for a person to be assigned to the file. They didn't have to fill out an entire "package", the fax machine worked, and everything went smoothl...
02/17/2010
I recently received an interesting e-mail from an agent the other day. It appears that lenders are stating in their approval letter that the borrower gets to walk away free. But, then they are pursueing the homeowners after the fact. Here is the e-mail I got from Jan "I having been working the sh...
02/16/2010
I'm doing some quick Q & A today. Scroll down if you want to skip the Q & A. Question #1: "Our buyer has had a contract on a property since August. Listing agent keeps telling us that the lender is working on it. Could they be working on a loan modification with the seller? What specific question...
02/16/2010
Question #1: "How can you find out if it is a Fannie or Freddie Loan? Ann Pell." My answer: Search if it's a Fannie Loan here: http://loanlookup.fanniemae.com/loanlookup/ Search Freddie here: https://ww3.freddiemac.com/corporate/ Question #2: "Hi Ben: I have a short sale condo listed in Southern ...
02/11/2010
If you have ever wondered about the effectiveness of your advertising, then this will be an eye opener.  Money Losing Advertising Mistake #1: Using the Helicopter Approach. “What is the Helicopter Approach”, you may ask. It's like getting in a helicopter, flying over town and just dumping your sa...
02/11/2010
 The tale of two builders. There is a builder in our town that built 80 to 100 homes a year during the boom. He has an excellent reputation for high end custom homes, and a lot of his employees thought that the slowdown wouldn’t affect them. Well, it has. He will probably build 10 homes in 2008. ...
02/11/2010
Rainer
52,471

Ben Curry

Ask me a question
*
*
*
*