Short Sale Superstars

Providing you with the knowledge and tools needed to succeed with Short Sales.

Kris Lindahl
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  • Minneapolis, MN
  • United States
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Latest Activity

Kris Lindahl joined Wendy Rulnick's group
Citi
All things Citi... short sale help here!
February 19
Kris Lindahl replied to Kylee Roe's discussion 'GMAC SECOND %?' in the group GMAC
Kylee, How did it workout? I have the same situation going on right now.
February 9
confides left a comment for Kris Lindahl
February 4
Steele V. Propp replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
Yes, these are the two methods of tax forgiveness. The Act itself and insolvency. One thing to note for the future is the increasing number of "walk aways". These are people who can afford the mortgage but choose not to pay because the value has go…
January 28
Kris Lindahl replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
http://www.irs.gov/individuals/article/0,,id=179414,00.html
January 28
Kris Lindahl replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
They can but most likely when some one is going through a short sale they are insolvent.
January 28
Ryan Gerding replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
Cancellation of debt is a federal tax issue, so I don't believe it varies from state to state. State taxes, however, is a different story. Ryan Gerding
January 28
Steele V. Propp replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
I believe that they can 1099 your primary residence. Just that the Tax Forgiveness Act covers this situation and negate the taxes. Do you have somthing from the state statutes that says different?
January 28
Kris Lindahl replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
Foreclosure by advertisement is about 95% of foreclosures in Minnesota. You are correct in that they cannot come after the seller for the deficiency on the first if it is a foreclosure. The reason they cannot is because they are taking the property…
January 28
Mary Wilcox replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
would the lender foreclose juducially or through trustee? Makes a difference on how the debt is handled. Ryan could you tell me the difference in the way it is handled? Judicial vs non? I work in MO & KS and they are KS is judicial and MO is non-ju…
January 28
Steele V. Propp replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
Minnesota is largely a non-deficiency state so correct me if I am reading this wrong but it doesn't matte what the first mortgage approval letter says. If it was a purchase money loan on a primary residence they can't collect. They will just have to…
January 27
Ryan Gerding replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
Ok. That makes sense. I would't agree to that either, especially since the debt would be wiped in a foreclosure anyways. With the collection, there is a chance that balance gets written off and your clients will be mailed a 1099 (i think that's the…
January 27
Kris Lindahl replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
The seller owes 120 on the first and 30 on the second. The collectable balances equal 70k. Why would my seller agree to that acceptance letter when the first gets waived away in foreclosure? Therefore, the sellers would only be on the hook for the 3…
January 27
Ryan Gerding replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
I just had a short sale approval and the language refers to the right of BofA and its investors to seek a deficiency judgement for the difference between the loan amount and the net proceeds of the short sale. BofA indicates that this is language ap…
January 27
Kris Lindahl replied to Jeff Payne's discussion 'Submitted my first 2 short sales that will be handled thru REO Trans today.' in the group Bank of America Short Sales
Good luck. I have nothing but problems with that system. It assigns a generic negotiator and I can never get a response. I had one declined because it didn't get uploaded in the system on time. Yet I was never aware that I was supposed to upload som…
January 26
Kris Lindahl replied to Kris Lindahl's discussion 'BOA Accepts Short Sale but with collectable balances verbiage in the letters' in the group Bank of America Short Sales
That is probably the case. They are such a mess. Has anyone else had the collectable balance issue?
January 26

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First Name
Kris
Last Name
Lindahl
State
MN
City
Blaine
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Forum

Sherry Wheeler

FHA SS 1 Reply

Started by Sherry Wheeler in Short Sale Discussions. Last reply by Bryant Tutas 5 hours ago.

Jimmy Williams

Midland Funding LLC 3 Replies

Started by Jimmy Williams in Short Sale Discussions. Last reply by Barb Van Stensel 20 hours ago.

Sima Saboury

REO or BPO 1 Reply

Started by Sima Saboury in Short Sale Discussions. Last reply by Sam Purtle 16 hours ago.

Victoria Frieberg

Is HAFA toothless with the junior lien holder, if the lender does not participate in HAMP?

Started by Victoria Frieberg in Short Sale Discussions Mar 15.

Brenda Mull

Real Time Resolution 6 Replies

Started by Brenda Mull in Short Sale Discussions. Last reply by Paola Lopez De Armentia Mar 15.

Al Goldin

Bank Of America short sale expert needed -I have an approved short sale but issus with the type of release 9 Replies

Started by Al Goldin in Short Sale Discussions. Last reply by Paola Lopez De Armentia 16 hours ago.

Travis Bryant

Has anyone had issues with PMI? 3 Replies

Started by Travis Bryant in Short Sale Discussions. Last reply by Christine Donovan 1 day ago.

jim coddington

PNC Bank 1 Reply

Started by jim coddington in Short Sale Discussions. Last reply by Amy Cole Mar 10.

Neil Leavitt-Kentucky Solutions

Obama Paying $1,500 to Homeowners who do a Short Sale

Started by Neil Leavitt-Kentucky Solutions in Short Sale Discussions Mar 8.

Wanda martinez

BOA as a server for Rural ECON (type of loan)

Started by Wanda martinez in Short Sale Discussions Mar 6.

 

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