In a short sale it is always a good idea to close as quickly as possible. Just because you have an approval letter with a green light to close by a certain date does not mean that things won’t change. The bank will usually honor the terms of the approval as long as it closes…

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The simple answer is…more than meets the eye.  Let’s backtrack a bit.  In February the Big 5 banks: Bank of America, JPMorgan Chase, Citibank, Wells Fargo and Ally Financial (formerly known as GMAC) got a slap on the wrist and a $25 Billion dip in their rather deep pockets for their part in the Robo-signing…

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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

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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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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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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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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