All Forum Posts by: Luiz Souza

I came across a piece of property that the wife is the only one on title & mortgage. A creditor filed a lien against the property but the husband is the one responsable for the debt not the wife. Can they legally do that?

Thank you

Sam,

I am not here to bring no negative thoughts or ideas. You may be closing all of your SSs with no problems at all but in here in my neck of the woods there are not a lot of people doing A to B to C transaction or collecting LM fee and almost every little rumor or negative headline around put me on the spot. That's why I come to this forum for help or direction from people that know more than I do.
Thank you anyway

I am in GA.

Got a phone call from my Agent today & according to a meeting he had with both of his brokers if you are not a licensed mortgage broker or realtor you are breaking the law by negotiating a SS in the borrower's behaf and collecting a fee. So I guess good bye to the A to C LM FEE. Are they right? or Where can I find this out with details? Does anybody know?
Thank you

http://www.dailyreportonline.com/Editorial/News/singleEdit.asp?origin=EmailRefer&l=em52306861103498323

Hey Scott,

Would you be able to share a copy of the statement you mentioned above?
Thank you

That sound like a great idea but most SS lenders and/or title Cos. don't like to see that the title was transfered before closing so that may be a no go:(

Scott,

Isn't it true that every lender/investor follow pretty much same guidelines as far as B being the owner on title? We had a SS shot down by BOA last month for the very same reason mentioned above and of course at the very last minute, I guess they enjoy that kind of $^%^!! So if you are using the Option or any other contract or agreement to do a back to back how do you get around this issue? I really miss LT:(

Jon that's right the buyer agreed to receive zero in cc at closing or zero contribution from seller. Prorattion taxes, wire fees, post closing fee and my option release fee are being tacked on the seller's side.

A to C transaction. Buyer was fine with zero cc. I negotiated 3% and plan to collect this amount in order to release my Notice of Option. We are planing to close this coming Wednesday. Last Friday I forwarded to the closing attorney a Realease of Lien/ Notice of Option Cancelation Form. Just received the final HUD and the amount mentioned above is slashed by more than half. The attorney is using the cc that the buyer never asked for to pay taxes and some additional fees he came up with. He also forwarded the HUD to me for approval, as well as the Realtors who really don't have a say in the final HUD. This is exactly what the attorney told me, "the excess funds are being paid to XXX LLC for the release of its option on line 508 on page 1 and were all the funds leftover on this one." How should I approach this?