Senate Majority Leader Corbett came through for many homeowners in a tight pinch. Those that were worried about completing a short sale while still having a second mortgage that could come after them years later, commonly to what everyone refers to as seeking a deficiency, was not a settling thought for many sellers who...
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...
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...
We find that our clients are really frequently asking these days with the HAMP and HAFA programs (Obama Modification Program or Making Homes Affordable Program) the question that seems to be on everyone’s mind and that is what is this 4506t? Traditionally the 4506t is used be loan officers and submitted to mortgage lenders...
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...
At time it seems that short sale isn’t going anywhere. At times it could be a snafu on the servicing side or some missing items but sometimes it is because you may have missed a step that is not always necessary. We have done hundreds of short sale for our clients and many through...
As a mortgage lender the bank is not there to sell the borrower’s home. That is why 9 times out of 10 it is better to go through a short sale for all the parties involved than to let it go to foreclosure. There does not need to be a delinquency but it is...
Scott Pelley reports on the mortgage crisis that’s far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession. Short Sales are becoming the next big bomb to blow up in peoples hands that have little to no experience. We do the short...
With home prices on the decline, some homeowners may be tempted to renovate their home to make it more desirable or valuable to potential buyers. But there are certain renovations that can actually decrease the value of your home – even in an up market. If you’re trying to sell your home in the...