Important changes to loss mitigation process of Bank of America Bank of America real estate professional webinar series is one of the ways they stay better connected with their agent community. The upcoming webinar will provide information that helps you…
CHASE: 6% rule spreads like pleague… Really it’s killing a lot of deals.
Another one bites the dust. Chase now joining the ranks of other large servicers has put a stop to the amount of money allowed to go to second mortgages. Where once they were one of the last that were reasonable,…
CHASE: As of April the 2nd you better know it all! (Verification Questions)
As of April the 2nd Chase has changed up the verification process once again. At least we have seen this on with EMC (Chase side of the business) and the particular agents we were dealing with work both Washington Mutual…
Bank of America: Puts stop to cash out refinances
Bank of America certainly turned some heads last week when it told its retail loan officers nationwide that the lender will halt, for now, originations of cash-out refinancings, citing what it calls a “surge of refinancing activity” and capacity problems.…
What’s the difference?: Chapter 7 v. Chapter 13
Even though many individuals are familiar with bankruptcy in general, few are aware of the differences between a Chapter 7 and a Chapter 13. First, a Chapter 7 bankruptcy is considered a liquidation of assets. A Chapter 13 is a…
Incomplete Bankruptcy Petitions: The Truth Behind Emergency Chapter 13s
Many people call a Chapter 13 filed on the dawn of a foreclosure sale an emergency Chapter 13. However, it would be more accurate to call it an incomplete Chapter 13. An emergency Chapter 13 Bankruptcy is often done in order…