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...
Would you think that they would let the homeowner’s get off easily for that long? Well it seems that Fannie is back at it again. This time at Bank of America with a whole slue of new hoops for the very tax payers keeping their doors open. In this case it seems their latest...
When everyone talks about the great short sale deals I don’t think they have frequented the 21st Century Mortgage area of the business. If this business has gotten any better in some places it’s definitely gotten worse in others. Strange as it may seen we have come across some awkward negotiators but 21st Century...
Many times these programs that we deal with for our clients change for the better but there are also certain times that they change for the worse. I guess only adding insult to injury is that fact that it is our own government, supported by our tax dollars, making life just a little bit...
In an odd turn of events HAMPs guidelines have changed possibly this time for the better. Changes have recently taken place to help try and bring that 18% of successful workouts up a little and this time it’s including Investors. Now before you jump for joy they are not expanding this to include investor...
We should set off the fire works for this one. It’s almost like Bank of America is taking a few steps into the future calling out,”’90′s here we come!” OK. So they are still running 20+ years behind on the times but their catching up. In a bold move Bank of America stopped accepting...
Frequently we get a lot of questions but none as much as the question, “Can I apply for assistance without being behind/delinquent?” Usually this is followed by the fact that they were told by everyone they know that they should stop making payments if they want to find any assistance. We are huge believers...
Recently in conversations with a negotiator in the Freddie Mac department at Ocwen Mortgage we had an in depth conversation leading us to final result of having a full understanding of their break down paid to Jr. Lien holders. Frequently, lenders in specific, have what they call a “Martix”. The Matrix we are referring...
Similar to the Indymac non-owner occupied or investment loan modifications are rare at most lenders unless you know the right people. Well at Chase this is no exception. Chase has adopted many of it’s own practices from the new current HAMP/Government program. These modifications are actually completed under Chase’s slightly adjust guidelines but has...
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...