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- 14 Blog posts
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Experience:
Realtor, CBS, RSD for Allison James Estates & Homes
July 2010—present
Top Realtor Certified BPO Specialist Certified REO Specialist
Top Realtor Certified BPO Specialist Certified REO Specialist
Specialties:
- Short Sales, Loan Modifications, Foreclosures, BPOs, REOs
-Cash for Keys, Deed in Lieu ... show more
-Cash for Keys, Deed in Lieu ... show more
Certifications
& Awards:
& Awards:
Certified BPO Specialist, Certified REO Specialist, Short Sale Consultant
Interests:
Travel, Writing, Skiing, Touring Wine Country, Movies, Beach Walks
About:
We are a full-service Real Estate Solutions Provider for buyers, sellers and investors of commercial and residential real estate throughout the United
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Testimonials:
""The world of real estate is changing. Those that understand this fact will prosper in the years ahead. Enter Koni Scavella, nothing yet has burst her
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Koni Scavella answered:
Short sales can take longer than 3 months with some lenders...and if there is a 2nd involved. It is always important to negotiate with both lenders simultaneously...particularly when the 2nd lien holder stands to lose so much.
The new HAFA guidelines released August 1, 2010 allow for the 2nd lien holder to be reimbursed for 6% of the balance, up to the $6,000 cap. For some lenders with insured loans, they may find greater financial benefit in foreclosing than negotiating. This is why it is important to understand if the short sale is a Fannie, Freddie, FHA loan, etc. PMI (Private Mortgage Insurance) can also impact negotiations.
The $3,000 payment you are referring to is a relocation incentive offered to the seller at close of escrow. The service can receive $2,200 upon completion of the HAFA short sale with Fannie Mae.
With new short sale guidelines implemented at Chase, Bank of America and Wachovia (now Wells Fargo), we are seeing short sales close in 30 days or less. Let's hope more lenders follow suit!
When looking for short sale bargains, always make sure you have a keen negotiator on your side.
Happy HomeFetching!
Koni Scavella, PhD
Certified Short Sale & Bank Owned Specialist
The HomeFetchers Team - Bringing Real Estate Excellence to You
877-610-1717 - 24-Hr. Home Hotline
858-480-1717 - Direct
Email: info@HomeFetchers.com
Web: http://HomeFetchers.com
Info: http://KoniScavella.com
Blog: http://VestorLink.com
The new HAFA guidelines released August 1, 2010 allow for the 2nd lien holder to be reimbursed for 6% of the balance, up to the $6,000 cap. For some lenders with insured loans, they may find greater financial benefit in foreclosing than negotiating. This is why it is important to understand if the short sale is a Fannie, Freddie, FHA loan, etc. PMI (Private Mortgage Insurance) can also impact negotiations.
The $3,000 payment you are referring to is a relocation incentive offered to the seller at close of escrow. The service can receive $2,200 upon completion of the HAFA short sale with Fannie Mae.
With new short sale guidelines implemented at Chase, Bank of America and Wachovia (now Wells Fargo), we are seeing short sales close in 30 days or less. Let's hope more lenders follow suit!
When looking for short sale bargains, always make sure you have a keen negotiator on your side.
Happy HomeFetching!
Koni Scavella, PhD
Certified Short Sale & Bank Owned Specialist
The HomeFetchers Team - Bringing Real Estate Excellence to You
877-610-1717 - 24-Hr. Home Hotline
858-480-1717 - Direct
Email: info@HomeFetchers.com
Web: http://HomeFetchers.com
Info: http://KoniScavella.com
Blog: http://VestorLink.com
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