The answer is very likely YES; as in both. If you are listing and selling short sales then your seller very likely needs not only you as a licensed agent to sell the real estate (and we recommend only the use of REALTORS in good standing with their local boards and MLS) but also the [...]
Bank of America’s equator system reduces chance to successfully close short sales – PART 2
June 7, 2010 By 2 Comments
Homeowners & agents nationwide are confused. What is Equator and how does it impact my short sale? In this blog let’s examine the negatives and then finally what to do with Equator. Thinking about taking on a new short sale? REALTORS take note, Equator is the new “in thing” for Bank of America and [...]
Bank of America’s equator system reduces chance to successfully close short sales – PART 1
June 4, 2010 By 8 Comments
I’ve been asked to write an update on Equator. Homeowners & agents nationwide are confused. What is Equator and how does it impact my short sale? In this blog let’s examine the positives…up next the negatives and then finally what to do with Equator. PART 1 Thinking about taking on a new short sale? [...]
GMAC commingled cash. What about the mortgage itself?
March 8, 2010 By Leave a Comment
If GMAC and other mortgage servicers have no qualms about commingling funds for which they have been entrusted (by investors); it is easy to understand they have no problem jerking a single homeowner around with his loan modification or short sale. Anything to make a buck. NEW YORK, March 4 (Reuters) – Moody’s Investors Service on Thursday [...]
GMAC sucks down another $3.8 billion!
January 4, 2010 By Leave a Comment
The U.S. taxpayer (READ: you and I) now own a majority interest in GMAC Financial Services, which this week received a capital infusion of $3.79 billion from the US Treasury Department. The additional aid means that the U.S. government now owns 56 percent of GMAC, totaling $16.3 billion. Much of the aid comes as the financial services giant continues to [...]
9 million promised but only in reality 31,000 helped
December 11, 2009 By Leave a Comment
While the government has promised help to 9 million mortgage borrowers, just over 31,000 homeowners have received a permanent loan modification under the Obama administration’s mortgage relief plan. This is a big jump from the ~1,700 noted in September but still a big setback for the government’s embattled effort to stem the foreclosure crisis. [...]
