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...
Posts Tagged ‘ proceeds ’
Bankruptcy: Can I still owe money to the IRS if my Chapter 7 Bankruptcy has been discharged?
***PLEASE NOTE THAT THIS SHOULD NOT BE CONSIDERED LEGAL ADVICE OR TAX ADVICE. EVERYONE’S SITUATION IS DIFFERENT AND SHOULD BE REVIEWED BY A PROFESSIONAL IF YOU NEED TO SPEAK TO SOMEONE PLEASE REACH OUT TO US AT 888-934-3444 TO SPEAK TO AN AGENT THAT DIRECTLY OR EMAIL US AT INFO@MLREPORT.COM*** In a simple answer....
Bank of America: BAC Loan Servicing Customer Portal Instructions
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...
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...
Wells Fargo Home Mortgage (ASC) limit closing costs.
Wells Fargo Home Mortgage is notorious for the being nit-picky. Whether it is that one of the contract is not executed to their liking or when they ask you to submit their own listing and contact addendum one thing is guaranteed and that is that they do not want to lose on a deal...
What are my options to avoid foreclosure?
These are a few of the plans offered by lenders and a few ways that you may be able to stop a foreclosure: Full Reinstatement- This is the act of taking the account out of foreclosure or default status by making a payment in full for the defaulted amount plus the additional payment of...
The Mortgage Meltdown
Scott Pelley reports on the mortgage crisis that’s far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession. Short Sales are becoming the next big bomb to blow up in peoples hands that have little to no experience. We do the short...