Chase is seemingly not hurting these days as the recovery department is on a set course to collect a minimum of 70% for a full release of the deficiency balance to be released. Now to anyone paying 70K on a 100K debt is a savings of 30K (which by the way the IRS does...
Posts Tagged ‘ arrangement ’
BankUnited: We’ve lost our ability to do our own short sales! National Quick Sale picking up their slack.
BankUnited, along with becoming defunct, has ceased completing it’s many of its own internal servicing procedures it has offer its investors in the past. One of the latest is that they are no longer processing short sales. In a strange turn of events BU is now working with a 3rd party service provider Nation...
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...
California doesn’t need to tell you twice and it could cost you!
Millions of homeowners across the United states are getting onto arrangements with their lenders. Many other states may have the same or similar laws here so listen in as this could affect you and your clients. Commonly, in the state of California, the foreclosure process starts with a Notice of Default being filed against...
VIDEO: Foreclosed by Mistake!
Recently a homeowner on an active loan modification plan was foreclosed on even though they were making their payments according to their arrangement. As these types of issues become more common place we feel that this is the reason why it is important to work with the right team of individuals to represent the...
Bank of America (BAC) Finally Warming up to Short Refinancing; Kind of.
In a talk to today with the upper echelons of Bank of America’s defunct division Countrywide now going by BAC we found out that they are in talks to finally role out the option for doing short refinances. Problem is that so far this is only going to apply to those who show up...
Wells Fargo Home Mortgage: Mod to Short Sale Guidelines
Many times homeowner’s having attempted everything find that they are being forced to have to sell. In fact it is because they’ve been turned around, either declined or given terrible offers, no matter what they request they are given no further options to allow them to keep the property in some affordable matter. Furthermore,...