Where many are taking it upon themselves to make things worse it is nice to see that at least one servicer isn’t. Litton Loan Servicing, though known for it’s terrible loan modification process, is at least taking a few steps in the right direction. The government’s HAFA program put out by the Treasury and...
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...
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...
Image via Wikipedia Foreclosure deficiencies are one thing… those are usually depending greatly on the type of loan you had prior to the home going to foreclosure but these days there are new laws waiting to be rewritten on the banks ability to pursue you have a homeowner. Well don’t expect any legislative back...
Image via Wikipedia In has been the position of many lenders that they would like their borrowers to attempt to sell the property prior to applying for a deed-in-lieu of foreclosure. These days we find that there is not always one solution for homeowners that need to walk away from their properties or to...
Many of our clients are receiving these days a Hardship Affidavit that seems like it is causing a storm of confusion. Even those in the industry find that they are not exactly sure what it is for. The “Affidavit” pronounced by many as ‘affidavid’ is basically a formal hardship letter to the lender advising...
Today while searching the web for the next million dollar idea, I again found myself stunned with all of the horror stories and difficulties that are posted online Image via Wikipedia I have been reading all over the web (ActiveRain not to be excluded) that it seems that people are finding issues and having...
In the shopping spree that incited in 2008 with the collapse of the mortgage/lending industry, Bank of America (now operating as BAC Loan Servicing), purchased an asset called Merrill Lynch. Under that umbrella they picked up several subsidiaries of which one of those was known as Wilshire Credit Corporation. In some unusual events IBM at the end...
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...
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...