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 ‘ minimum ’
Service Link Loss Mitigation Services to start Charging a 1% fee for completing short sales
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...
HAFA Video: In action but what does it mean to your and your homeowners.
HAFA is not guaranteed as not all lenders will be participating. Investors currently participating in HAMP or the Obama program may continue to participate but it must be understood that many can also back out and choose to no longer participate as these programs are not an obligation and more of a suggestion with...
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...
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...
Bank of America(BAC): Foreclosure Net Proceeds; Forecast points to Death for your Deal
Really this rule works across the board for most lenders as they all generally forecast what they expect to receive from sending a home to foreclosure. An example of this is, a bank, prior to foreclosing has a “net” amount or “net proceeds” that they would expect after a sale. This also includes an...