Comments on: Industry Alert About ING Direct and Their Short Sale Processing http://www.realphoenixliving.com/2008/06/03/industry-alert-about-ing-direct-and-their-short-sale-processing/ Real Estate information for Phoenix, Scottsdale, and other nearby Arizona cities Tue, 07 Feb 2012 00:07:39 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Steve Belt http://www.realphoenixliving.com/2008/06/03/industry-alert-about-ing-direct-and-their-short-sale-processing/comment-page-1/#comment-1643 Steve Belt Thu, 05 Jun 2008 15:41:43 +0000 http://www.realphoenixliving.com/?p=542#comment-1643 ING Direct did call back on Wednesday. They gave a very lame excuse about thinking they wouldn't be impacted in first position. Clearly they never read the contract price and compared it with their loan payoff. But more to the point, why would we bother faxing in 50 pages of contract and financial stuff, if we didn't think they'd be impacted? At any rate, the ball is finally rolling. Appraisal, which will take 2 weeks to get back, is being ordered. ING Direct did call back on Wednesday. They gave a very lame excuse about thinking they wouldn’t be impacted in first position. Clearly they never read the contract price and compared it with their loan payoff. But more to the point, why would we bother faxing in 50 pages of contract and financial stuff, if we didn’t think they’d be impacted?

At any rate, the ball is finally rolling. Appraisal, which will take 2 weeks to get back, is being ordered.

]]> By: Jonathan Christopher http://www.realphoenixliving.com/2008/06/03/industry-alert-about-ing-direct-and-their-short-sale-processing/comment-page-1/#comment-1641 Jonathan Christopher Thu, 05 Jun 2008 15:22:46 +0000 http://www.realphoenixliving.com/?p=542#comment-1641 Always good to get feed back about experiences with different banks. Thanks Always good to get feed back about experiences with different banks. Thanks

]]> By: Steve Belt http://www.realphoenixliving.com/2008/06/03/industry-alert-about-ing-direct-and-their-short-sale-processing/comment-page-1/#comment-1631 Steve Belt Wed, 04 Jun 2008 07:49:53 +0000 http://www.realphoenixliving.com/?p=542#comment-1631 Jonathan, you'll notice that by rule, 2 out of the 3 ways a short sale can have offers result in the listing allowed to be Active. I do know the rules, while most buyer's agents do not. Jonathan, you’ll notice that by rule, 2 out of the 3 ways a short sale can have offers result in the listing allowed to be Active. I do know the rules, while most buyer’s agents do not.

]]> By: Jonathan Dalton http://www.realphoenixliving.com/2008/06/03/industry-alert-about-ing-direct-and-their-short-sale-processing/comment-page-1/#comment-1630 Jonathan Dalton Wed, 04 Jun 2008 04:35:27 +0000 http://www.realphoenixliving.com/?p=542#comment-1630 You can't be in Active status if you have offers accepted by the seller and sent to the bank for final approval. ARMLS rules require you to be AWC-I. Details are on Page 2 here: http://www.armls.com/pdfs/ShortSaleQARev3.pdf I've reported about a half-dozen of these along with another ... man ... close to 100 short-sales that aren't marked in the MLS as Lender/Corp Approval Required. You can’t be in Active status if you have offers accepted by the seller and sent to the bank for final approval. ARMLS rules require you to be AWC-I.

Details are on Page 2 here:

http://www.armls.com/pdfs/ShortSaleQARev3.pdf

I’ve reported about a half-dozen of these along with another … man … close to 100 short-sales that aren’t marked in the MLS as Lender/Corp Approval Required.

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