Here is a link to a video that is promoting investors to buy properties in Florida via short sale.
If you are an investor looking to buy properties in Hillsborough County, the video may have some information for you.
http://www.tampashortsaleblog.com/2011/05/perfect-time-to-buy-properties-through-a-short-sale/
Friday, May 27, 2011
5 Major Mortgage Lenders Allow You to Initiate a Short Sale via Equator
If you are looking to buy a short sale or sell your property via a short sale and have one of the following lenders:
Bank of America
Wells Fargo
ASC
BSI Financial Services
Nationstar Mortgage
You should know that they allow your real estate agent to initiate the short sale process within a matter of 30 seconds or so. All they have to do is fill out a form with the loan number your name and a few other items. Once they do this, all you have to do is provide your real estate agent with an authorization form that allows them to speak on behalf of your account and you will be well on your way to getting your short sale process started.
What is Equator? In a nutshell Equator is: a short sale module that automates the entire short sale process for mortgage lenders and real estate professionals. It enables the Servicer to lower loss severity and the cost to service loans by automating the workflow and improving connectivity with Agents, Borrowers and Vendors.
Make sure your real estate agent is aware of equator and that the first thing you do is give them an authorization form allowing them to work with your lender and that they initiate your short sale through equator if your loan is with one of the mortgage servicers that was mentioned above.
Bank of America
Wells Fargo
ASC
BSI Financial Services
Nationstar Mortgage
You should know that they allow your real estate agent to initiate the short sale process within a matter of 30 seconds or so. All they have to do is fill out a form with the loan number your name and a few other items. Once they do this, all you have to do is provide your real estate agent with an authorization form that allows them to speak on behalf of your account and you will be well on your way to getting your short sale process started.
What is Equator? In a nutshell Equator is: a short sale module that automates the entire short sale process for mortgage lenders and real estate professionals. It enables the Servicer to lower loss severity and the cost to service loans by automating the workflow and improving connectivity with Agents, Borrowers and Vendors.
Make sure your real estate agent is aware of equator and that the first thing you do is give them an authorization form allowing them to work with your lender and that they initiate your short sale through equator if your loan is with one of the mortgage servicers that was mentioned above.
Tuesday, May 17, 2011
Bank of America Short Sales
If you are thinking about initiating a short sale in Hillsborough county with Bank of America, here is something you will want to know:
Bank of America outsources some of their work to third party vendors to help streamline the short sale process. They have different vendors for diffrent situations. For example, if you want to do a short sale through the HAFA program you will work with a specific vendor like AMS, but AMS (3rd party vendor for Bank of America), does not work files that already have an offer. Therefore if you already have an offer, you will be working with a different vendor.
The first thing you want to do is explain the whole scenario to a representative within the short sale department, then have them tell you which 3rd party vendor you will be working with. That way you do not waste your time and your buyer’s time.
A lot of the problems while doing a Hillsborough county short sale, is that buyer’s get impatient and start consider walking away and looking to buy a different property. Reducing the time it takes to close a short sale is very crucial so every day counts.
New Fax Number for Chase Short Sales
If you are a Hillsborough county short sale professional , you will find this fax number very useful. Chase, has started giving out one main fax number for all short sale documents. All the representatives are also saying that they can confirm the receipt of the fax in 20-30 minutes. This is a lot better than the 48-72 hour time frames that are usually given.
The new fax number to use when working a Hillsborough county short sale with Chase is: 1-866-220-4130
Welcome to The Hillsborough County Short Sales Blog
This blog serves to provide information about Hillsborough county short sales to the following group of readers: Buyers interested in Tampa short sale listings,Hillsborough county short sale Sellers interested in alternatives to foreclosure and getting out of their upside down mortgage, and short sale professionalslooking for tips about short sales and how to process them.
Currently, I am employed by a loss mitigation company and am a short sale processor in Hillsborough county. I have been doing loan modifications, deed in lieu of foreclosures, and negotiated reinstatement plans for over 2 years now. I am currently concetrating on processing short sales and have been for several months now. What I will be posting on this blog is useful information about what ashort sale is, what you need to know about the short sale process and how to get them done. The blog will be divided into 5 parts: The main section which will host all my postings and link to the rest of the sections, a buyers page, a sellers page, a legal and tax page, a media page, and the short sale professional page.
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