Senate Majority Leader Corbett came through for many homeowners in a tight pinch. Those that were worried about completing a short sale while still having a second mortgage that could come after them years later, commonly to what everyone refers to as seeking a deficiency, was not a settling thought for many sellers who...
As of July 13th 2011 Bank of America received a new guidelines (or in the business it is called a directive) from our old pal Fannie Mae(FNMA). In this new guideline change they are requiring homeowners that look to go through the HAFA program to actually jump through several new hoops. One of those...
Would you think that they would let the homeowner’s get off easily for that long? Well it seems that Fannie is back at it again. This time at Bank of America with a whole slue of new hoops for the very tax payers keeping their doors open. In this case it seems their latest...
BAC Home Loans Servicing, LP., or Bank of America, wants you to know what all those auto responders mean. In a recent email sent out on August 17, 2010, BAC sent a message about the changes that had taken place over a month ago on July 15th to their partner’s website (Equator.com). It goes into explaining...
Recently it is becoming more and more apparent that the Loan Modifications are in many cases hurting those that it first set out to help. Specifically the participants of the HAMP Program have found themselves scrutinizing the creators of the program (namely the U.S. Government and the Obama Administration) for leaving a provision in the...
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...
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...
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...
We here at MLReport.com have been receiving a lot of questions about Bank of America’s new online secure e-mail system. We have obtained an internal document that we will share below with our readers below. If you have any questions you know how to you contact us. Happy reading: Contents How to open your...
A short time ago we were going to report to you about the 100th bank failure in ’09 but as the pixels we typed out were just starting to settle the numbers just jumped again. We decided to ride it out and wait even past January (not only due to the changes we experienced...