The Preforeclosure Daily Grind» fannie mae

How to Deal with a Demanding Short Sale Negotiator!

Mike Thompson — Thu, 02 Sep 2010 20:03:45 +0000

On this week’s Preforeclosure Daily Grind “Tip of the Week” we tackle what to do when you are negotiating a short sale and you get stuck with an over demanding loss mitigator. We cover how to figure out if the demanding requests for more short sale documents are coming from the actual lender (Chase), the lenders investor, the Mortgage Insurance Company or just an inexperienced negotiator; The different levels a short sale travels in order to get an acceptance. Plus the latest way Bank of America and their Equator system are jamming up your short sales when you are at the closing stages, and more.

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The Latest on Litton Loan Servicing and Loan Modifications!

Mike Thompson — Thu, 26 Aug 2010 14:48:49 +0000

On this week’s Preforeclosure Daily Grind “Tip of the Week” we tackle the latest way that Litton Loan Servicing is handling their loan modifications. We cover how they deal with sellers, agents and third party loss mitigation companies when they are servicing the 1st mortgage. We also go over what they are doing when they are servicing a 2nd loan and what debt collection company they are working with. Chase’s new practice regarding sellers that miss one payment and what foreclosure “status” they put them in and what you need to do to get them out, and more.

Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visit PropTrackr.com for more info.

The Hidden Facts behind FHA Short Sales!

Mike Thompson — Wed, 11 Aug 2010 20:21:35 +0000

On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into the facts behind doing a short sale on an FHA insured loan. We cover the positives, negatives and give you “hidden” tips and tricks when discounting these properties. Listen in as we also cover the how to “escalate” an FHA insured file so you can speak directly to HUD’s national office, one of the only remaining lenders that still require our sellers to go through HUD counseling. We also touch on the maximum amount of money that FHA will give attorneys and title companies, whether or not an FHA insured property needs to be listed in order to qualify for a short sale, whether or not the homeowner needs to be in default to start an FHA short sale. The “truth” behind whether or not a “VACANT” FHA insured property can be filed for a short sale. We also cover if Bank of America negotiates FHA insured properties on their Equator System and more.

Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visit www.PropTrackr.com for more info.

End Buyer’s Lenders Are NOW Stopping Short Sale Transactions

Mike Thompson — Thu, 15 Jul 2010 20:05:27 +0000

On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into what many of today’s buyers’ lenders are requiring on your short sale acceptance letters, in order to finance a short sale purchase transaction. Listen in to see what McCue Mortgage is requiring from Bank of America and CitiMortgage. We also cover what line to put a 2nd lien holders payment on a HUD-1 settlement statement to satisfy a 1st mortgage, why you can’t change a Bank of America short sale approval letter, why CitiMortgage no longer accepts extra payments of the HUD-1 settlement statement and more.

Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visit www.PropTrackr.com for more info.

What To Do When a Short Sale Lender Goes Against Their Investor

Mike Thompson — Wed, 30 Jun 2010 23:53:09 +0000

On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into the latest and greatest challenge when dealing with a Servicer (Lender) who goes against their Investor (the entity who owns the money) and their written guidelines and how to overcome it. We also cover the latest updates to our Real Estate Management Tool that will save you a lot of money, a deal in which we’ve had to go over a lenders head and straight to the investor due to another bait-n-switch, why and how to get two negotiators to work together when they’re both within the same lender and on the same property, a recent “challenging” SunTrust deal that we finally got closed after a year and much more.

SunTrust Mortgage Short Sales- Are Our Sellers Getting Screwed?

Bob Lachance — Thu, 03 Jun 2010 03:09:02 +0000

On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into what is going on with SunTrust Mortgage and how long they are actually taking to close short sales these days. We go over a recent deal we have with them and some tips and tricks on how to get a short sale deal closed when you have two mortgages with the same lender. Listen in as we cover this and how often SunTrust Mortgage will order a new BPO, what Fannie Mae will allow 2nd mortgage holders when they are in first position, whether or not SunTrust will give a “Settlement in Full” or a “Release of Lien” only on their short sale approval letters and more. Visit www.PreforeclosureDailyGrind.com for more real estate videos from North Shore Enterprises.

Fannie Mae Short Sales – How Long Do They Really Take?

Bob Lachance — Wed, 06 Jan 2010 23:58:16 +0000

This week’s Preforeclosure “Tip of the Week” from PreforeclosureDailyGrind.com’s Bob Lachance and Chris “the Drummer“ Bowes is about how long a Fannie Mae insured short sale “typically” takes from start to finish. In this video we go over a recent deal that we closed with One West Bank that is filled with hidden tips and tricks. Listen in as we cover what to look for when you are accessing a property, the pitfalls of not knowing if your property is a “historical home”, making sure you are correct on your property repair sheet and much more. Visit www.PreForeclosureDailyGrind.com and www.ShortSaleDailyNews.com for more short sale videos and articles. Please leave your comments and questions so we can address them on future videos!

Latest Updates from Fannie Mae

Bob Lachance — Fri, 06 Mar 2009 09:16:32 +0000

This short sale video is about the latest update from Fannie Mae. This update is extremely important to real estate agents and investors alike. It goes over the latest tip on finding how to out who the “investor” on a loan is, how much commission they will pay and much more.

Visit www.PreforeclosureDailyGrind.com for weekly videos on the preforeclosure business and if you want to ask questions go to www.AskBobLachance.com