Lots of chatter from the Fed last week, as the debate about whether to continue their latest round of Bond buying, known as Quantitative Easing, continues. What is Quantitative Easing? Quantitative Easing is the concept of the Fed becoming a buyer of Treasuries and Bonds to try and stimulate the economy...
Did you know that if the buyer of a short sale is a Limited Liability Company (LLC) or Corporation, there are specific documents that must be completed? If required documents are not provided, the short sale process can experience significant processing delays.
LLC required documents: if the buyer is an LLC, the following documentation must be provided to the Short Sale Specialist...
Bank of America has partnered with Auction.com to deliver a pilot program that assists homeowners and agents generate offer activity and successfully complete their short sale transactions. This pilot offers a unique opportunity to amplify the marketing of the property. Participation in this marketing program is optional and will not impact homeowners' eligibility to participate in any short sale program. With Auction.com's enhanced marketing efforts, you will reach more potential buyers and your commission will not be impacted.
Effective November 1, the Uniform Borrower Assistance Form 710 is now included in the foreclosure solicitation letter for all Fannie Mae, Freddie Mac and military short sales and deeds in lieu of foreclosure transactions. This new form streamlines the document collection process and reduces the number of forms required by obtaining financial information from a delinquent borrower, or a borrower in imminent default, earlier in the process.