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...
The Government’s alphabet soup of mortgage help programs has really set a lot of confusion amongst homeowner’s, agents, and professionals alike with all the programs that they have brought to pass. HAFA, as relatively one of the newer programs, has been met with a large bit of confusion as to the terms to be...
Fannie Mae is always on the look out, like any servicer, for the best solutions that in the long run lose them the least amount of money. Commercial owners and owners of investment properties rarely see the benefits of these programs. Since October of 2009, a little more than a year ago this date,...
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...
Many different acronyms get thrown around frequently in the business world. The banking world being one of the largest cogs in private sector it is no wonder confronting your mortgage company and getting a clear understanding of what they are trying to say or who you should be dealing with is so crucial. Now...
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...
Needless to say CalHFA’s review of loan modification is weak and at best they don’t even look to see if you have your basic requirements for living are met. Many times you will find that they will go through multiple level’s of management prior to actually making approvals on loan modifications, same goes as well for...
Wachovia known for its speedy work outs and it could be because of the streamline guidelines that they put out to begin with. In fact those rules aren’t necessarily that stringent but they do keep the flow of work going. Wachovia’s short sale department uses an automated valuation system and through the use of...
Wachovia, in no new fashion of being over protective as they are already with their letter of authorization process, have been asking for additional informational when calling in as a 3rd party that just about no other lender does. In retrospect it is funny because even Wells Fargo who is notorious for their auditing...