In a business where it can really help to know people in high places Wachovia has proven to be no different than the rest. Where in many cases homeowner’s find it difficult to manage through the process loan modification process, with the now Wells Fargo owned company, it looks like there is some light at the...
So as if it wasn’t already tough enough to get your mortgage lender on board with your short sale now they are charging you to approve it! Buyers, agents, homeowners, etc. already have enough trouble on a day to day basis processing short sales but now Service Link Loss Mitigation Services a division of...
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...
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...
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...
Select Portfolio Servicing (SPS) states on their approval letter that 48 hours or two business days prior to closing a short sale they want want to receive a copy of the HUD as it will stand final and recorded. The strange part is most lenders have this clause but they normally send you an...
As a mortgage lender the bank is not there to sell the borrower’s home. That is why 9 times out of 10 it is better to go through a short sale for all the parties involved than to let it go to foreclosure. There does not need to be a delinquency but it is...
Most of you might think from the blog title that this is going to be a conversation about how the homes location is really what gets a property sold. Well that is another post for another time. This post is about Mortgage Companies and how they are broken up into multiple locations and sometimes...