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Lynn Pineda Female Pompano Beach, FL United States: Share; Share on Twitter; Share on Facebook

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Lynn Pineda's Discussions

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Latest Activity

Sheila Brown replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

I just received my first request for this 1% administration fee through American Home Mortgage Services. I have worked with them in the past on previous transactions and this is the first time I've seen it. I negotiate my own short sales at no addit…

March 4

Lynn Pineda commented on Bryant Tutas's blog post 'GMAC Interfering in Short Sale Contracts.'

That's funny I just read this post tonight from Richard and my thoughts exactly.....in the event of a Buyer defaulting I'm entitled to 50% of the Buyers deposit and I have collected on this. Now GMAC thinks that this is owed to them?! Come on...enou…

February 20

Charlotte Lloyd replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

I just had a servicer charge a 1% fee for processing the short sale. It was Home EQ. It was not the listing agents fee. I do know some agents are asking the selling agent to split the negotiators fee or putting it on the HUD I and trying to get the…

February 4

Darlene Krause replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

I would ask them to provide you with documentation that allows them to charge that type of fee.

February 1

Lynn Pineda replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

This is for an upcoming February closing that was just approved in January and I did get them to waive the fee. However, my point is that they're asking for it now. What will Lenders ask for next?

January 29

Emily S. Knell replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

I just closed one with them on Nov. 23rd 2009, and they didn't ask for this. Fight back! Don't buckle to their every demand. Just constantly point out what a fabulous fair market value deal they're getting and how it's going to cost them $25K to tak…

January 29

Lynn Pineda replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

Emily,I recently had it with a 1st AHMSI and they wanted it paid by the Buyer.

January 29

Emily S. Knell replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

Which banks have you been experiencing this with? And, who do they expect to pay this cost? And, is this fee being asked from a 1st or 2nd lien holder or both?

January 29

Lynn Pineda replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

No, in my experience this 1% fee is being requested by servicers and has nothing to do with who is negotiating the Short Sale for the Seller

January 29

Emily S. Knell replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

This is not bank servicers asking for this 1% fee. This is the listing agent who's hiring a short sale negotiator who tries to get a 1% fee included in their HUD as a "negotiation fee", because most banks will not agree to this, that cost gets loppe…

January 29

Lynn Pineda replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

Hi Steve, Yes, in my initial post I was talking of Loan servicers charge a Short Sale processing fee when another party, such as a Realtor negotiated the short sale. They were charging it simply because it's a Short Sale. Yet, I'm under the underst…

January 27

Steve Londeau replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

Lawyers, Third Party Negotiators, even Realtors CAN charge a short sale processing fee. It is NOT a RESPA violation, because it is a charge that a service was actually provided. In the inital post, it appears that Lynne was talking about servicers,…

January 27

Lynn Pineda replied to Keji Iuyomade's discussion 'BoA Extension- Charging Per diem' in the group Bank of America Short Sales

Keji, just this past Friday I had to request a closing extension for a Buyer. They told me that there would be a per diem late charge and I simply asked for the charge to be waived as the extension was due to no fault of the Buyer. Within minutes th…

January 23

Bryant Tutas replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

Lynne. I collect it up front at time of listing. Send me an email to brokerbryant@gmail.com It also helps me determine who is serious about going through the process. When I received the entire short sale package completed and with a check attached…

January 22

Lynn Pineda replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

Hi Bryant, how you describe your fees does make sense as I see you don't actually call them "short sale processing fees" as what I was referring to. I too have a lot of the low end price ranges in my market and I like what you do as we can't go over…

January 21

Bryant Tutas replied to Lynn Pineda's discussion 'Servicers wanting payment of a Short Sale fee'

Lynn, We can charge an upfront fee as long as it is for services rendered. Mine is a marketing fee. Look at it this way...a short sale seller is certainly free to hire an MLS only company of they choose to...right? Or they can hire a flat fee compan…

January 21

Profile Information

First Name

Lynn

Last Name

Pineda

State

Florida

City

Coral Springs,Tamarac, Coconut Creek, Plantation

My Profile

I love Short Sales and have been very fortunate to be able to help distressed homeowners avoid foreclosure. Servicing the Coral Springs Florida area and surrounding communities within Broward County Florida I have been able to gain Short Sale approvals at very high rates. So if you're looking for a professional Short Sale Realtor to help you, it would be my pleasure.

Lynn Pineda's Blog

1st Position Lenders ignoring 2nd position Lenders

I don't know if anyone else is experiencing this but I have had a number of recent Short Sale approvals come through in which the 1st Lender isn't acknowledging any proceeds of the Short Sale to go to the junior 2nd Lender; written approval with $0 to junior 2nd. I'm having to go back and get the approval letter adjusted and that is just how I'm treating it; I'm bringing it to their attention as if it was a simple oversight by the Lender and they "forgot" to include the $'s. However, what is rea… Continue

Posted on October 19, 2009 at 9:42pm — 3 Comments

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