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    • Page 3

    How Short Sales will Save the World!

    • by wildelawfirm
    • March 19, 2012
    • Comments (0)

    Ok, maybe short sales won’t save the planet (does that mean that I don’t really need to finish designing my superhero outfit for Captain Short Sale, or maybe The Mighty Short Sale Warrior?  I was kind of digging the yellow cape). Anyway, short sales may not stop a speeding train or fix our banking system

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    Oh Those Pesky 2nd’s

    • by wildelawfirm
    • January 31, 2012
    • Comments (0)

    10% of the amount owed:   As we all know the land of short sales is anything but settled.  Even after three years of doing this full time there always seems to be something new coming or going…like unsecured promissory notes or confession of judgments.  Over the summer all of the investors and servicers for

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    Multiple Short Sale Offers

    • by wildelawfirm
    • December 30, 2011
    • Comments (0)

    NORTH CAROLINA SHORT SALE ADDENDUM. The North Carolina Short Sale Addendum to the Offer to Purchase and Contract states: “Buyer and Seller understand that additional offers may be received by the Seller’s Agent, which must be presented to the Seller pursuant to North Carolina law. Such offers may be accepted by the Seller as backup

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    Here is a New One…Flopping

    • by wildelawfirm
    • December 6, 2011
    • Comments (0)

    There is a new game in town and it goes by the intimidating name of “Flopping.” Freddie Mac and Fannie Mae also use another name…Mortgage Fraud. Did that get your attention? It should. The real estate agent will encounter this in a number of ways but most ways will be a variation of the following

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    Why Use a Seller’s Attorney in a Short Sale?

    • by wildelawfirm
    • November 8, 2011
    • Comments (0)

    We strongly suggest that the Seller use his/her own closing attorney for a short sale. Our firm requires it if we are facilitating the short sale. Why? Well, if the Seller docs are prepared by the Buyer’s closing attorney, as is usually done in a real estate closing in North Carolina, the Seller ends up

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    Home Owner Associations and Short Sales

    • by wildelawfirm
    • October 5, 2011
    • Comments (0)

    If you have not had to negotiate with a Home Owner Association (HOA) regarding past HOA dues in order to get a short sale closed, well you haven’t lived. It is, seriously, one of the more frustrating tasks that we have to handle. It seems that more than half of the HOAs have some hard

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    Why a Buyer Should Want a Professional Negotiating the Short Sale?

    • by wildelawfirm
    • September 24, 2011
    • Comments (0)

    The mantra for a Buyer should be WHAT IS THE FASTEST WAY TO GET MY OFFER APPROVED AND THIS SHORT SALE CLOSED. There is a long track of hurdles to get over between the offer and closing. That list includes: 1) document collection; 2) package compilation and submission (sometimes multiple times); 3) document review and

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    What Should We Put in the ‘Due Diligence’ Section of the Offer?

    • by wildelawfirm
    • September 13, 2011
    • Comments (0)

    In North Carolina we now have a Due Diligence Period that can be negotiated and put in the Offer to Purchase and Contract (Offer to Purchase). We could have done it with the old contract but it is now a prominent part of the new Offer to Purchase. In a short sale situation, however, the

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    When Should a Short Sale Buyer Get the Inspection Done?

    • by wildelawfirm
    • September 8, 2011
    • Comments (0)

    The simple answer is as soon as possible. I know that the Buyers don’t want to spend $350 for a home inspection before they know if the short sale will get approved. I get that, but lets analyze why it is better to get it done sooner rather than later: 1. Think “AS IS” contract.

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    Who Wants a Short Sale?

    • by wildelawfirm
    • August 28, 2011
    • Comments (0)

    As far as short sales are concerned we have long since taken care of most of the individuals who should not have gotten a loan at all or a loan larger than they could handle. The next wave of client was the individual who lost their job or a portion of their income and has

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