short sales: Program HR 3648: IN SHORT SALES--ARE ALL BUYERS EQUAL? - 09/20/10 02:25 PM
 

There are ways to help determine the viability of a buyer in a standard real estate transaction-a bona fide pre-approval from a reputable lending institution, evidence of a serious interest in finding a home to purchase-not a "Looky Lou", a list of "wants and needs" that are realistic against the funds available to purchase, a willingness to sign an agreement with a real estate agent or agency with a deposit when a property is found.  But at Program HR 3648, we have additional criteria we ask our agents to use that are vital to finding a buyer for a … (0 comments)

short sales: Program HR 3648 | Short Sales | Keeping It Clean - 09/08/10 03:20 PM

 
 
 
Program HR 3648 | Next to the BPO, the most important element of a short sale is having “clean” documents.  The definition of a clean document is that it is accurate, completed by all necessary parties (fully executed), is current and it is clear and readable (ACCC).
Program HR 3648 processes hundreds of short sales each week with a variety of documents in a variety of conditions—most are clear and easy to read, but sometimes we have to delay a short sale submission to ask an agent to complete incomplete documents—all blanks, signatures, initials, and dates—or for … (2 comments)

short sales: PROGRAM 3648: IF I RULED THE SHORT SALE WORLD--PART TWO--THE BPO'S IMPORTANCE - 08/06/10 06:07 PM
In addition to the importance of having good contact information, mentioned in part one of this blog "series", here at Program HR 3648, our wish list would also include having a lender-ordered BPO or appraisal that accurately reflects the actual market value of the home-including the home's condition and other neighborhood/environmental issues-so our agent's efforts to secure a buyer will conclude with a successful closing rather than the rejection by the lender of a solid offer as "insufficient" with a foreclosure sale to follow.
A short sale house may be suffering from neglect or deliberate damage by the owners or from … (2 comments)

short sales: PROGRAM HR 3648: RULING THE SHORT SALE WORLD--A WISH LIST FOR PROCESSING--PART ONE - 08/03/10 09:52 AM

PROGRAM HR 3648: RULING THE SHORT SALE WORLD--A WISH LIST FOR PROCESSING--PART ONE
For those of us at Program HR 3648 who process short sales, we spend lots of time on hold or listening to Muzak tunes--some good, some static-laden and some that are just plain awful, but all of this is repetitive and a little mind-numbing, so we find productive ways to spend our time during these long hold times:  we do paperwork, review the contents of the files we're working-checking for tasks and missing information or docs, etc., and, when we've finished all the on-hold tasks we can … (0 comments)

short sales: Program HR 3648 | If Cash Isn't King in a Short Sale...What Is? - 07/27/10 01:28 PM
 
Program HR 3648 | In a recent blog post on ActiveRain by Rob Magnotta, Program HR 3648 noted the interesting trend he addressed—that cash wasn’t necessarily king.  In our own short sale work, we find that cash, which was once a powerful element, has, for the most part, been relegated to a position of insignificance.  What we hoped would help move a lengthy and difficult process forward at a swifter, smoother pace seems to have almost no bearing on it. 
Our brain tells us that a lender should find an “all cash” offer to be enticing, favorable, and/or helpful, because … (3 comments)

short sales: PROGRAM HR 3648 | Navigating Short Sales Successfully - 07/22/10 10:36 PM

 
Program HR 3648 knows that “Knowledge is power in the short sale world.”  It also knows that sometimes the short sale world is elusive.  The very entity that can make or break a deal—the lending institution—is often a moving target with changes in policy, changes in requirements, changes in processes and staff that is under-trained or over-burdened with files and tasks. 
This blog will present the most current short sale issues, and trends, answer questions from real estate agents, homeowners, buyers and offer the most current lender information available.
Education is essential to the success of a short … (12 comments)

 
Jan Bodine (Program HR 3648)

Jan Bodine

Louisville, KY

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Program HR 3648

Address: 9700 Ormsby Station Road #100, Louisville, KY , 40223

Office: (502) 301-8874

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