Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Advertisements


Sponsored Links
Advertisements
How To Advertise Here
How To Advertise Here

Good Idea!
Realtor Promotion Service

Sponsored Links
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 28390548
No new orders today 13128331
Stupid MLS comments. 3323553
What do you know about Froy Candelario, top agent in USA 1215063
Stupid QC comments and BPO requirements. 1087629
New HUD Listing Brokers---Any Update? 1050718
Is there religious content in Buffini class? 838861
Let's talk about our cars 686003
Name that Flick. Great movie Lines. 618923
Pay it Forward - BPO/REO Tips & Tricks I & II 608769
Most common items found at an REO 601471
EML 459234
REOTRANS 452789
Main Street 437479
asset val seminar in colorado 418819
assist 2 sell or 1 percent realty? 350101
HOMONYMS - There, Their, and They're 323863
Evalonline 300207
Land America 285053
Mainstreet 261860
Matched Content
Topic Options
Rate This Topic
#447243 - 08/18/15 01:50 AM hafa experts, please, short sale, deed in lieu, please read, thanks
Floridatimes Offline
Junior Member

Registered: 08/18/15
Posts: 1
Loc: Florida
Hello all I just wanted to get your expert opinions. My situation is that I was served with the lis pendins for my home at the end of March of this year. I submitted an answer and requested mediation with my lender. This past week we had our mediation in which I was sent a package for the making homes affordable hafa program. I included the property in a bankruptcy last year so I have no worries with any deficiency judgments however. I'm interested in short selling the home or doing a deed in Leiu of foreclosure and receiving a Cash relocation, from what I'm being told is currently at up to $10,000.


My goal would be to stay in the property as long as i can and receive the relocation since i am not income strong at the moment. I am preferring DIL as a first option because this is already in litigation and im not sure how long till the judge files the hearing and what are my chances at that hearing.

I plan on submitting the package very soon but my question is the following:

I am a real estate agent. shall I list the property while submitting the package and noting it as 'listed for sale' to improve my chances of getting a short sale process approved, or should I not list it for sale and wait and see what kind of response I get once they process the application.

I assume they would provide me with values and terms....

Question 2:

If I'm interested in the deed in Lieu path, do I have to go through the short sale first? Would DIL or SS be wiser considering my goal listed above (staying longer plus relocation)Thanks very very much for your advice in advance!

Top
Advertisements
#447246 - 08/18/15 07:25 AM Re: hafa experts, please, short sale, deed in lieu, please read, thanks [Re: Floridatimes]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7793
Loc: Vermont's North-East Kingdom
It sounds like you're just trying to dump the property.

Was it that bad an investment . . . . are you that far underwater ?

But you still want to live in it until they pay you to get out.

From afar, it it appears that you're gaming the system; and I wouldn't convey that you're a Licensee. That cannot help.

Just my 2
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

Top
#448749 - 11/09/15 11:23 AM Re: hafa experts, please, short sale, deed in lieu, please read, thanks [Re: Floridatimes]
John_Myers Offline
Member

Registered: 08/09/12
Posts: 43
Loc: NM, USA
Most lenders will not allow you to short sale your own property. You will most likely need to have some other agent list your property.

Most lenders require you to attempt a short sale before they will accept a deed in lieu. I think they require the home to be listed in the MLS for 60 days.

The most I have seen for a relocation package is $3000.

Good luck
_________________________
Myers & Myers Real Estate






Top






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Newest Members
Tim Hall, Richie Rich, norm christian, Ribika_G, opetherealtor
29968 Registered Users
Who's Online
3 registered (estatereal, Daniel1234, 1 invisible), 41 Guests and 4 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Long Walk 31
Vermont 17
Trouble 15
RonnieEmz 14
sualk54 13
Mr. Clean 12
Z06Fanatic 12
TheTexasGal 7
avidstudent 6
jetgetset 6
estatereal 5
HChomat 5
Lucky Leonardo 4
ryanccarroll 3
kyle_flory 3
Featured Member
Registered: 02/24/18
Posts: 1
Facebook

How To Advertise Here


This site presented by RNC Internet Services