If you are in the market to buy or sell real estate, looking for a title agent to examine and issue a title commitment, looking for someone to review any liens on the property prior to bidding on an REO, Fannie Mae, HomePath or Freddie Mac property, or need to create a business to purchase […]
In the market to purchase a new property and think that your derogatory credit, foreclosure, prior short sale, bankruptcy, deed in lieu or mortgage default will prohibit you from obtaining a new loan? Think again. Fannie Mae released a report that it intends to revise the waiting period, from seven to four years for borrowers […]
The new wave taking over the courthouse these days, is lenders filing suits against the prior homeowner/borrower for the deficiency of the mortgage judgment, after the foreclosure auction or short sale. A deficiency balance is the short fall, or balance that is left due and owing, after a property either sells on the foreclosure auction […]
In an announcement Thursday afternoon, the Consumer Financial Protection Bureau said it will engage in additional foreclosure protection to consumers. The announcement comes on the heals of a recorded $16 Billion record settlement by Bank of America for violations in failing to resolve its claims related to its toxic mortgages leading up to the financial […]
WHETHER YOU ARE BUYING OR SELLING REAL ESTATE… THE MARKET IS HOT!! WE ARE BACK TO THE DAYS OF THE BIDDING CASH WARS, WITH BUYERS PLACING OFFERS AT OVER LISTING PRICE, AND SELLERS CHOOSING THEIR BUYER FROM MANY A POOL OF EAGER TAKERS. HOWEVER, IN THE TAIL END OF THE FINANCIAL FORECLOSURE CRISIS, WITH SO […]
A RECENT NEVADA SUPREME COURT DECISION THAT ALLOWS HOMEOWNERS ASSOCIATIONS TO TRUMP MORTGAGE LENDERS IN FORECLOSING ON HOMES SENT A SHOCK WAVE THROUGH THE MORTGAGE INUDSTRY LAST WEEK. THE RULING IN ESSENCE ALLOWS HOMEOWNERS ASSOCIATIONS TO SELL A PROPERTY TO THE HIGHEST BIDDER, FOR EXAMPLE $3,000, $4,000 OR $5,000 AND EXTINGUISH THE DEBT A MORTGAGE […]
Struggling private student loan borrowers, who have gone into default, and having trouble making ends meet, have options. The Consumer Financial Protection Bureau, who has studies 5,300 private student loan complaints, have reported that of the over 5,000 loans analyzed during a one year period, complaints rose by more than 37 percent, most of them centered […]
FHA, VA and USDA all offer programs for homeowners that are upside down on their mortgages, struggling to make ends meet. These programs offer reduce mortgage payments, up to 31 percent of the monthly gross income, making payments affordable. Programs can also decrease the interest rate, stretch out the amortization of existing loans and often […]
DO I HAVE TO STOP PAYING MY MORTGAGE IN ORDER TO QUALIFY FOR A LOAN MODIFICATION OR SHORT SALE?… This question comes up again and again during consultations with clients. And the answer is always resoundingly… NO! You are not required to miss a mortgage payment in order to qualify for HAMP, HAFA, or any […]
If your first mortgage was modified or in the process of being modified, and you have a second mortgage on the property, either HELOC or other type of loan, the Obama Administration has created numerous programs to assist with eliminating the debt on these second mortgages. Often, a homeowner is upside down and the options […]