Archives for November 2012

Short Sale CASE STUDY: 010

Make It Go Away!

How do you make a lien go away that isn’t there?

This is what I have been fighting all week on this file.  Several messages back and forth with the banks negotiator and I think I have finally figured out a way to make them happy.

I created this form to have the seller sign in front of a notary.  I will upload this to complete the OVERDUE task in the equator system.

It never ceases to amaze me that no matter how many of these I have worked on (close to 200 now) there is always [Read more…]

Short Sale CASE STUDY: 009

A Lesson in Liens

I received a message from the processor at Wells Fargo right before Thanksgiving that they found a judgment against the seller for $451.40. My title company showed no such judgement and is willing to insure a clean title.

Why is this a big deal?

Clean Title.

In order for a property to be passed from one person to another, it needs to be free of liens (claims) against it. The transfer of ownership is recorded in the county that the property resides in. Title insurance is often purchased to ensure that [Read more…]

Short Sale CASE STUDY: 008

Minor Updates – Still Waiting on the Bank

After a few messages to the bank had not been answered I decided to have the seller fax me the form letters he received from Wells Fargo to see if there was a contact number I could find to speak to the processor directly.

I didn’t find what I was looking for but did see that they gave him the option of faxing his financials to them outside of the Equator system.  Since I am still unable to upload any information into Equator I decided that I needed to  [Read more…]

Short Sale CASE STUDY: 007

Form Letters and Red Tape

The seller received a notice from the Lender late last week acknowledging that they received the request and were processing the short sale.  The letter also directs him to have his agent upload his financial information into the Equator system to avoid the file being cancelled.

It has been over a week since I last uploaded information on this file and I am still not able to [Read more…]