For all of 2009 we were proclaiming Wells Fargo and Citi to be the best in terms of short sale negotiation time. However, EMC Mortgage has been by far the easiest most rational bank to deal with. They have recently joined with Chase and even Chase's files are moving faster. EMC is now our preferred … [Read more...] about EMC Short Sale Update (Chase)
We recently heard from a Suntrust Negotiator that you must be behind on payments in order to qualify for a short sale. In addition, the suntrust negotiator put me on hold to double check and I had to listen to Suntrust hold music that stated the exact opposite. This is just one of the many … [Read more...] about Suntrust Negotiation Story
The short answer is technically yes, the bank can change your locks. When you signed your closing documents you signed a security deed that likely allowed the bank to take care of the property in your absence. When the bank hires a contractor to verify if the property is occupied, he has two check … [Read more...] about Can the bank change my locks?
Banks are not in the business of owning real estate in Atlanta. They want to make loans and shift the risk over to the consumer. They then want to sell these "safe" loans and to investors and retain the rights to service it. It's like an investor buying a property, getting a tenant in it and then … [Read more...] about Why Would A Bank Want To Do A Short Sale?
Definition: A Short Sale by definition is when the lender or lien holder agrees to decrease their payoff (the amount owed to them) to allow the home owner to close on the sale of their home. A short sale is simply the bank allowing the sale to happen. Of course, they monitor every possible term … [Read more...] about What is a Short Sale