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Discussions (10)
Groups (7)
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Stephen B. McWilliam's Groups

Chase

164 members
Wells Fargo Short Sales

183 members

Hud-1

29 members
Help Me!

168 members

AHMSI

34 members

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Stephen B. McWilliam's Discussions

Chase

Yvonne: Send a entire short sale package to each of them. One of them should finally alert on the file.

Replied Feb 9

Looking for an agent to handle a short sale Miami-Dade County Florida

Thanks. I emailed her and copied you. I will keep you in the loop.

Replied Feb 7

Mortgage Commitment wording

I wouldn't suggest that the Buyer go so far as to obtain a mortgage commitment prior to an approval. Could prove to be a big waste of time.

Replied Feb 7

Looking for an agent to handle a short sale Miami-Dade County Florida

Julie: Please email me the specifics: smcwilliam@floridastaterealtygroup.com. Please feel free to call me at 954-449-1767. We would need to review the overall situation to determine how best to proc…

Replied Feb 6

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Stephen B. McWilliam's Page

Latest Activity

Stephen B. McWilliam commented on Richard OBrian's blog post 'Certified Short Sale Professional?'

3. Context-of-use limitation. Perhaps the most difficult to understand, this limitation requires that the marks be used only to refer to a person’s status as a member, not to an occupation. For this reason, uses such as “No. 1 REALTOR®,” “Your REALT…

February 12

Stephen B. McWilliam commented on Richard OBrian's blog post 'Certified Short Sale Professional?'

Actually, " Certified Short Sale Professional Realtors" is a violation of the terms of use of the REALTOR® trademark. One cannot put an adjective prior to the word REALTOR®. Don't shoot the messenger.

February 12

Stephen B. McWilliam replied to Pacita C Dimacali's discussion 'Has Chase paid for HOA fees, fines, lawyer charges, etc on delinquent short sale properties?' in the group Chase

Assuming Chase is servicing for Fannie or Freddie they typically will provide a maximum credit of $3K unless the association is entitled to more pursuant to state law in the event of a foreclosure.

February 10

Stephen B. McWilliam replied to Yvonne Westerman's discussion 'Chase'

Yvonne: Send a entire short sale package to each of them. One of them should finally alert on the file.

February 8

Stephen B. McWilliam commented on Wendy Rulnick's group 'Chase'

Typically it will be a 10-15 year term. The Seller can always attempt to negotiate that note away with 1 lump discounted payment in the future. The HUD Addendum will be disclosed to all parties. I would never suggest anything to the contrary. The n…

February 8

Stephen B. McWilliam commented on Wendy Rulnick's group 'Chase'

First, ask Chase to agree to accept a no interest $16500 note which is the difference between $8500 and $25k. Next, see if the 1st will increase their offer to Chase anything. Failing the 1st lender's increase to cover the full $3k difference advise…

February 8

Cindy Greenya replied to Stephen B. McWilliam's discussion 'Chase Short Sales Mitigator and Supervisor last minute underhanded attempt to reduce FNMA commissions' in the group Chase

Good for you! I have a deal where the first approved 6% commission but the second mortgage (Chase) required a 4% commission... There was nothing that I could do because the first trust investor was private and Chase would not approve the release of…

February 7

Stephen B. McWilliam replied to Julie Chapman's discussion 'Looking for an agent to handle a short sale Miami-Dade County Florida'

Thanks. I emailed her and copied you. I will keep you in the loop.

February 6

Stephen B. McWilliam replied to Susan E. Wood's discussion 'Mortgage Commitment wording'

I wouldn't suggest that the Buyer go so far as to obtain a mortgage commitment prior to an approval. Could prove to be a big waste of time.

February 6

Stephen B. McWilliam replied to Julie Chapman's discussion 'Looking for an agent to handle a short sale Miami-Dade County Florida'

February 6

Stephen B. McWilliam commented on William Booth's blog post 'BOA/Fannie Mae Help please!!!!!!!!!!'

A soft pull is done just to obtain the credit scores. It does not provide for an inquiry or full listing of all tradelines.

February 6

Stephen B. McWilliam replied to Amanda Lynn Smith's discussion 'Oxford Management for Chase' in the group Chase

The Seller's may want to consider a BK now rather than in 1 to 2 years from now when the lenders will come to collect on any deficiencies created by the foreclosure. In the BK the junior lienholder will get wiped out and the first will authorize the…

February 6

Stephen B. McWilliam replied to David Dee's discussion 'Chase 2nd approval letter (wording)' in the group Chase

Stupid Stupid Stupid. That's what the homeowner is if he doesn't accept. He already owes the money and will continue to owe the money, short sale or foreclosure. He will owe considerably less and avoid a foreclosure on his credit report if he ops fo…

February 6

Bryant Tutas replied to Stephen B. McWilliam's discussion 'Chase Short Sales Mitigator and Supervisor last minute underhanded attempt to reduce FNMA commissions' in the group Chase

Way to stand up for what's right Stephen. Our motto as short sale agreements needs to be "just say No". I cringe when I take a Chase short sale. They are by far the worse in my opinion.l

February 6

Katerina Gasset replied to Stephen B. McWilliam's discussion 'Chase Short Sales Mitigator and Supervisor last minute underhanded attempt to reduce FNMA commissions' in the group Chase

Good for you to fight for your commission as per the guidelines. We had WellsFargo try to reduce our fee to 5% on a deal that Freddie Mac showed to be the investor. Their tactic was to deny that Freddie owned the note even though they did. You did t…

February 6

Stephen B. McWilliam added a discussion to the group Chase

Chase Short Sales Mitigator and Supervisor last minute underhanded attempt to reduce FNMA commissions

We most recently concluded the Short Sale from HELL ending with the Chase Short Sale mitigator, Erich Broemser and his supervisor Melissa Gaertner attempting to reduce our listing commission to 5% in the most underhanded fashion. I will save you f…

February 6

Profile Information

First Name

Stephen

Last Name

McWilliam

State

City

Fort Lauderdale

My Profile

Steve, originally from Massachusetts, began his real estate career in 1984 with Century 21. He has been living in the Fort Lauderdale beach area since 1989. He has earned the most prestigious National Association of REALTORS® accreditations of ABR (Accredited Buyer's Representative),CRB (Council of Real Estate Brokerage Managers), CRS (Council of Residential Specialist), and GRI (Graduate of the REALTOR® Institute). Less than 5000 of all REALTORS® have obtained all of these accreditations. Steve has extensive marketing and management experience and is very active within the real estate community.

Stephen is licensed by the State of Florida as a Real Estate Instructor and mortgage broker. He is the principal representative of Florida State Mortgage Group, Inc (a Florida licensed correspondent mortgage lender) which operates as a marketing and service partner along with Florida State Realty Group, Inc.

Steve is regularly engaged as a real estate expert witness by numerous Florida law firms to consult and testify as a real estate expert witness in cases throughout Florida in both County and Circuit Courts as well as the Federal District Courts. These cases typically involve claims concerning the licensee's standard of care, neligence and/or alleged breach of fiduciary duties.

Steve has served on the Board of Directors for Florida REALTORS® (formerly known as the Florida Association of REALTORS®) since 2007 and was most recently elected as a Director for the REALTOR® Association of Greater Fort Lauderdale.

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Bryant Tutas

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Stephen B. McWilliam's Blog

Florida requires mediation in foreclosure disputes

NEWS FLASH: A Florida Supreme Court Justice issued an order requiring all foreclosure actions involving Florida homesteaded property to be mediated between the lenders and the Borrowers.

Read more about it: Fort Lauderdale Sun-Sentinel

I would suggest making certain the SS negotiators are aware of this new requirement while in SS process.

Posted on December 30, 2009 at 8:30am — 1 Comment

Debt Forgiveness Tax - not necessarily

I continue to experience people, real estate practitioners included, that are under the impression that income tax must be paid on forgiven debt if the debt was not used to acquire their primary residence and as further defined pursuant to The Mortgage Forgiveness Debt Relief Act and Debt Cancellation of 2007.

Long before this was enacted there was, and still is, an insolvency exclusion. Basically, if you… Continue

Posted on December 27, 2009 at 12:30pm — 1 Comment

Note demands by junior lein holders

The knee jerk reaction by many is to refuse to sign a note upon a junior lien holder’s demand. One may successfully argue that position. However, in the end if the junior lien holder will not let up the Borrower is not in any worse position if they sign the note.

First, they already have a note with that lender on which the lender will sue. This new unsecured note replaces the original note that is secured by a mortgage. The Borrower can always attempt to settle that new note at some point in t… Continue

Posted on December 26, 2009 at 6:11pm — 3 Comments

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