Lenders are known for not playing by the rules. In many cases their underhanded tactics used to collect from consumers have become against the law with the passing of the Fair Debt Collection Practices Act (FDCPA) of 1966. The FDCPA is a federal law which governs the guidelines that debt collectors for personal debts...
Posts Tagged ‘ credit ’
Bank of America: BAC Loan Servicing errors on the side of caution.
Bank of America is accustomed to making mistakes but this latest one will be costing many of their short sales to get decline in error. In all the movement of trying to get everyone on the new equator system the lender seems to have lost track of things and has sent many of its...
The “new” FHA Mortgage changes.
Image by Getty Images via Daylife FHA, one of the nation’s largest insurer of mortgage loans (if not the largest insurer to borrowers of a greater risk), every so often comes out with new guidelines that largely influence the way the real estate business gets done. Recently there were some moves to try to strengthen...
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...
NEWS: Government unveils new mortgage help for states
The AP is reporting that there are some new efforts being put in to the trying to defeat the mortgage slump. By providing additional resources to finance new first time home buyers they are looking to help give the market the pep it needs to get going. We for one feel that this is...