Many times we find the homeowners wait till the last minute to find assistance. As homeowners used to have a little more leniency during the slow times but now an already battered system is starting to fight back. At this time CalHFA is another lender in a long line of mortgage servicers tightening up their guidelines. They have...
So, where to start. The Governator is back at it again and this time he’s trying to make some changes before he’s out of office and some of those things are going to impact you. The Governor’s proposal to extend the $10,000 first time home buyer tax credit has been passed by California Legislature which means...
It’s no surprise with the loose lending that went on the government allowed unsupervised for so many years, enough to cause an economic crisis almost as bad as the great depression, that they be forced to come up with some sort of solution for it. After seemingly enslaving a large percentage of the homeowners strapped now to...
How do I complete my portion of the short sale gets asked a lot by homeowner who are having trouble moving forward on their short sales. There are many reasons for hang ups but one of the number one reasons is the incomplete filling out of the Customer Portal. There is a need to convert documents...
While a lot of people of hurting it will be nice to see that the lenders who cause this mess are not going to be getting away completely free. As the government’s pay Czar reviews the compensation that is received by the management in the companies that received TARP and other funds from the...
IndyMac Mortgage Services, a division of One West Bank FSB, has a policy that has to with all forms of income the could be considered either less than stable or not completely permanent. In order to count for a type of income for a loan modification this income must be accountable into the future....
The state of Nevada is catching up to many other states effectively asking for Certified Funds only at all closing. As of October 1, 2009, per Nevada NRS AB #133, All closing funds must be in the form of a Cashier’s Check or other form of certified funds (check with your title company for...
Wells Fargo Home Mortgage and a subsidiary America’s Servicing Company in a conversation today they advised that they accept payment by phone as certified funds. In essence a payment by phone is not a form of certified funds but would be acceptable. This came directly from the “High Escalation” department supervisor so as for...
Mortgage Insurance and Premium Mortgage Insurance are instruments that are used to secure the bank’s investment in it’s customer’s homes when the borrower initially borrows over 80% of their property’s loan to value. These claims may vary in different types of coverage depending on the thresholds set at their inception. An example of this...