Fannie Mae is always on the look out, like any servicer, for the best solutions that in the long run lose them the least amount of money. Commercial owners and owners of investment properties rarely see the benefits of these programs. Since October of 2009, a little more than a year ago this date,...
Foreclosure Numbers
MHA:What is the HAMP review? Frequently Asked Questions.
Many different acronyms get thrown around frequently in the business world. The banking world being one of the largest cogs in private sector it is no wonder confronting your mortgage company and getting a clear understanding of what they are trying to say or who you should be dealing with is so crucial. Now...
MHA: Bank of America’s (and just about everyone else’s) spiel for Immanent Default.
Frequently our clients are concerned about approaching Bank of America to complete their immanent default interview, which happens prior to their falling behind, because they don’t know what to expect. It is important to know is that if you do not answer yes to all the questions you will not qualify for the loan modification process and...
NEWS: Tax Incentives Extended: Thousands of Short Sales saved from Buyers dropping their offers!
Anyone riding the short sale pipeline may have seen many buyers getting antsy as we came to the end of the filing period for tax payers to cash in on those home buying incentives. Well many of those last-minute buyers can wipe the sweat off their brow along with saving a lot of short...
Wachovia: An offer that is too low they will automatically get you kicked out.
Wachovia known for its speedy work outs and it could be because of the streamline guidelines that they put out to begin with. In fact those rules aren’t necessarily that stringent but they do keep the flow of work going. Wachovia’s short sale department uses an automated valuation system and through the use of...
Fannie Mae: 30 Days or less to a Foreclosure Sale you need at least 25% down for help!
Fannie Mae in another attempt to tighten its servicing belt has decided to release new servicing procedures that are only going to make it tougher for those homeowners who find themselves in an already tough position. Starting as of this month they have increased their precautionary measures for properties that are hovering dangerously close to...
Fannie Mae: As if it wasn’t already tough enough you better have a game plan!
Recently GSE Fannie Mae rolled out new guidelines guiding the servicers on how to manage its portfolio. Stating that it wants its borrowers, if they are in an active foreclosure and if they have a sale date within 14 days, the only acceptable remedy to stop foreclosure is to fully reinstate the defaulted loan. Until further...
Filing an Emergency Chapter 13 BK, Can it save my home from foreclosure?
Image via Wikipedia Constantly we are approached on what can stop a foreclosure sale. We feel that we try to touch on many different alternatives (including the new HAFA Programs) in order to postpone foreclosure but the Final Say So is a Bankruptcy. Its the ultimate trump card so for all those concerned that...
MLReport.com Presents: Lender-Pedia. For the People By the People. A Wiki story.
We here at MLReport know how important it is to find the information that you need when trying to deal with the mortgage servicing industry. When it comes to mortgage lenders it is not ever surprising to get a new number just about every time you call to some new department that disconnects you after a 45 minute...
Post-Foreclosure Frequently asked questions.
Here at MLReport we receive messages all the time asking about what to do when they have gone through a foreclosure. We get a lot of frequently asked questions and by no mean do we have time to answer all of them in just one post but we will do our part to start...