All Forum Posts by: Luiz Souza

I don't know about you but I am sick and tired about bad news! So let me be a bit positive for a change. If you are an Investors that is crossing all your Ts according to your local laws I believe you have nothing to fear. Either you agree the Short Sale lender is avoiding a greater loss, the seller's credit is already messed but he or she wont have foreclosure on their credit that would last much longer than SS. Your end buyer is getting a hell of a deal and everybody else will get paid.
As I said as long as you are doing this the correct way covering all angles and bases you should fear not.

Is anybody familiar with the new HUD that will be in affect next year?
Will that affect us (Short Salers) in anyway?
Thank you

http://www.walletpop.com/blog/2009/10/22/bank-of-americas-incompetence-creates-mess-for-soldiers-family/

Thoughts!

So Corry, what happen to this deal? Did you get it done or the clause removed?

In order to prepare for successful future deals, who other than BOA, WF and Wachovia requires restrictions on title transfer? Do you know of any other bank/lending institution that pose these same restrictions?
Thank you.

Send them a POA signed and notirazed and you'll be good to go.
Hope this helps.

Oh Boy! This is getting better and better.
Thank you so much for the information. I lost a deal two weeks ago with BOA because of this 30 day transfer crap.

LSouza

Corry,

Thanks for your reply and yes I'll take the addendum.
Thank you very much

LSouza

Just received a e-mail from EMC negotiator saying my offer looks good but she can not accept the Option Contract and she needs another PA executed. The only problem is that I have already recorded the notice of option at the courthouse.
Any toughts or ideas!
Thank you

The problem is that many Attorneys don't understand SSs and if you are trying to do a double chances are they'll raise a red flag . My SSs must always be closed by my Attorney or there is no deal. Are you using the Option contract or Trust?
If you have an OC you should have recorded the notice of option at your local Courthouse so the world knows about your intentions.
Anyway I would be upfront with the buyer and Attorney and show my contract and hope for best.

LSouza