Everybody is afraid of the NMAR

[Sam M.]

NMAR (Northwest Montana Association of realtors) The title company told me this morning that the head of NMAR just sent out a memo (haven't seen it since it is confidential????) declaring SS double closings illegal!!! Not sure where they get the authority to declare something legal or not. :roll:
Anyway the title company will not take the second file and the other title companies I talked to will need satisfaction of liens recorded before underwriting the transaction. (I think Tom was running into trouble on this one)

I have a call into Old school title to see if they can be of assistance.

[Maryann L.]

You shoujld get the NMAR to review the Virginia Association of Realtors thoughts on short sale flips written in their Newsletter stating:(Condensed Version)
"1-However, this way the seller gets a far more certain result, and gets it much more quickly.
2- The lender benefi ts enormously as well.
3- The Realtors® gain enormously as well. First,
compare the deal fl ow here to the purchase of REO
or — gawd help us — a typical short sale.
4-How about the buyer? Buyer gets exactly what he
bargained for, he gets it relatively quickly, and he gets the
deal without the uncertainty attendant on a short sale. Oh,
sure, he has to take title from someone he didn’t expect,
but so what?
So who loses? Nobody."
http://www.varealtor.com/sites/default/files/SeptCommonwealth_web_0.pdf

Scroll to page 14 in the pdf or look at page 12 on the document.

Maybe someone should send them this. I think all the associations should be on the same page ;)