Bankruptcy Short Sale

Bank Of America, SS Processing

 Bankruptcy Short Sale What happens to the short sale if the seller files for bankruptcy? •Lender can review a short sale offer while the loan is in an active bankruptcy. However, to complete a short sale and issue the approval letter, the bankruptcy documents must be...

One Borrower Cooperating Short Sale

SS Processing

Only One Borrower Cooperating Short Sale We were recently brought a short sale transaction in Santa Monica, California by an agent who has a borrower who desperately needed to attempt a short sale review. The issue in their case though was that there is a co-borrower...

Equator Soft Decline File

Blogs, SS Processing

What Is An Equator Soft Decline? An Equator soft decline is a term used for declining an offer on a short sale that is being processed through the equator online platform. Short sales are moved forward in equator on the agents and banks side by completing tasks. At...

Current Mortgage Short Sale

Blogs, SS Processing

Current Mortgage Short Sale Many borrowers do whatever it takes to stay current on their mortgage even while facing imminent default. It’s important to know that even if a short sale is completed while your are current on your mortgage it will still impact your...

Second Mortgage Is A Short Sale Only?

Blogs, SS Processing

Second Mortgage Is A Short Sale Only! In some transactions you may realize that their may be a possibility that the first mortgage will be paid off in full from the proceeds of the sale, but that the subordinate lien(s) will not. Situations such as this can often be...

IRS Lien Short Sale

Blogs, SS Processing

IRS Lien Short Sale When processing short sales you may run into an IRS lien on title. You should try to get authorized with the IRS right away. The IRS authorization Form 2848 is required for the IRS to speak to you. It’s very important to know that the Internal...