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Craig Bohall and His Team Impress With a 10 Day Close

November 16, 2009 By Leave a Comment

2 Week Close!!!!!! Really!! It’s true!! We had a client that had an offer in for a short sale that went on for almost 4 months. It was awesome to get an approval letter and close this deal IN LESS THAN 2 WEEKS after receiving the approval.

Craig’s team is amazing. Everyone on the team knows their stuff and their communication is impeccable. In this market it is critical to have an awesome team backing you up. That is why Karen and I have named Craig as our preferred lender. AND YES!!!!. It REALLY was LESS than two weeks.

Thanks,

Roger

Roger & Karen Cornwell

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Steve Lines Has Another 10 Day Close Success Story – Not a Cake Walk

November 3, 2009 By Leave a Comment

Summary of the Transaction:

  • Purchase offer in Maricopa, AZ for $185,000
  • First-time homebuyer who wants to ensure they close in time to qualify for the $8000 tax credit.
  • REO “Bank-Owned” Property
  • Offer accepted by the seller on 10/20/09
  • Seller sets close of escrow date of 12/04/09
  • Seller requires written approval by 11/13/09

Red-Flag Items on File:

  • Total Debt-To-Income is at 52%
  • Previous bankruptcy
  • Open collections on credit report (subsequent to bankruptcy)
  • $17,000 federal tax lien showing open on credit report
  • Down payment source is a gift from an out-of-state relative

File Timeline:Transaction Timeline

  • 10/21/09: Application and disclosure sent to buyer
  • 10/21/09: Rate locked at 4.875%
  • 10/26/09: Final appraisal received with value of $183,000 (2,000 below purchase price)
  • 10/27/09 9:25 AM: Addendum to purchase contract obtained ** without sellers signatures **
  • 10/27/09 10:17 AM: File submitted to underwriting
  • 10/27/09 11:41 AM: File approved with conditions
  • Conditions:
  • Seller-signed addendum to purchase contract prior to documents sent to the title company
  • Open tax lien removed from credit report prior to documents sent to the title company
  • 10/27/09: Proof of tax lien release sent to credit reporting agencies to scrub from the credit report.
  • 10/28/09: Credit report received with tax lien showing released
  • 10/30/09 4:30 PM (Friday) Seller-signed addendum received
  • 11/02/09 (Monday) Loan documents sent to the title company

And Then …

  • 11/13/09 Date the bank requested a written loan approval by…
  • 12/04/09 Close of escrow date per the purchase contract …

Steve Lines
Authorized FHA Loan Consultant and Co-Branch Manager
Academy Mortgage
Serving Arizona
480-344-3662 (direct)
480-329-3346 (mobile)
slines@bestfhalender.com (email)
www.bestFHAlender.com (my blog)
www.twitter.com/stevelines
www.linkedin.com/in/stevenlines

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Steve Alonso Has USDA Loan Docs to Title in Ten Business Days

October 21, 2009 By Leave a Comment

“Steve,

By the way, just wanted to tell you that your the best!!
You have under promised and over delivered! Jason and I are very pleased with the services you have provided thus far.
Keep up the good work!”

Alicia

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Steve Alonso Comes Through In A Clutch.

October 21, 2009 By Leave a Comment

“I just wanted to send a thanks out to all involved who help me acquire my new home.

Mitch for helping me find the right place, Steve for coming through in a clutch situation (bottom of the 9th with two outs) and Renae who kept me apprised and from blowing up Mitch’s phone.

Your team work made it all happen and I am benefiting from it.

Thanks again so much, it’s nice to have a place I can call home.”

Dave

In September, Dave found Steve Alonso through bestFHAlender after working with another lender for over a month trying to get his loan approved.  When he first contacted Steve, he was worried that he because of the other lender’s delay, he would not be able to close his loan in time and would lose his purchase contract.

Steve had Dave’s loan docs to title in 10 days.

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Ted Canto Went Above and Beyond With Docs to Title in 8 Days

October 21, 2009 By Leave a Comment

Ted Canto Makes Good On His Reputation For Closing Loans Fast

“My utmost gratitude goes out to Ted and Alejandra. My Buyer chose to use a lender he had always used for his home purchases, GMAC. After 26 days of waiting for the approval and time being up for getting docs to title, GMAC went from you are approved to, well because of the declining market in Phoenix we need 20% down instead of 10%. They then said to switch from a conventional loan to FHA was going to take another 30 days. I suggested my Buyer give Ted and his team a try, because they were closing loans in 2 weeks, this was calendar days not business days as most others will say. Ted and his team went above and beyond with docs ready for title in 8 days and that is with 2 of those 8 being a weekend. He did all this to make sure docs were ready to go to title for signing before a 3 day holiday weekend which gave us plenty of time to get the HUD approval from those oh so difficult Short Sale Creditor’s. Thank you so Ted and Alejandra for your extraordinary performance! I haven’t found anyone else that can get them done like you.”

Erin DeLung
RE/MAX Achievers

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Scott Smith Has Complete Loan Documents to Title in Five Business Days

October 4, 2009 By 1 Comment
I just recently closed a loan in only 8 business days working with Academy Mortgage and Scott Smith.  I have worked as a Realtor for several decades and have never experienced service like this before!  As the broker of High Horizons Real Estate (www.HighHorizons.com,) I have seen many Real Estate transactions and this is awesome!

We were competing to buy a bank owned property.  There were several offers to buy the house and some were cash offers. We won the offer because the Loan Officer, Scott Smith, got on the phone with the Listing Agent and convinced them we would close before the end of the month.  We got the contract, had the appraisal in 48 hours and they had the complete loan documents to title only 5 business days after we began!  Amazing!!

Marcia M Jarvis, REALTOR®
Marcia@MarciaJarvis.com
High Horizons Real Estate LLC
Designated Broker, ABR, CRS, GRI, e-Pro
CELL 480.452.2452 – FAX 888.370.5670

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