Realtors have told us the better they understand the counter offer process, the more successful they are in closing short sales. The following facts related to the counter offer process are critical to closing short sales in Equator. Fact #1: Your acceptance of the counter offer terms does not mean the transaction is approved...
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...
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...
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...
Needless to say CalHFA’s review of loan modification is weak and at best they don’t even look to see if you have your basic requirements for living are met. Many times you will find that they will go through multiple level’s of management prior to actually making approvals on loan modifications, same goes as well for...
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...