Recently in conversations with a negotiator in the Freddie Mac department at Ocwen Mortgage we had an in depth conversation leading us to final result of having a full understanding of their break down paid to Jr. Lien holders. Frequently, lenders in specific, have what they call a “Martix”. The Matrix we are referring...
Often we receive the question of how a homeowner should write their hardship letter and we find that there is still no simple answer. Should I include if I didn’t file my taxes? What if I don’t know what a profit and loss is? Many times the answer is right there but simply needs...
Its time to finally put away those 56k modems and those fax machines. Old technology is exactly that; OLD! We ourselves couldn’t be happier but we definitely know that those agents out there that are not technically inclined are either going to give up on Bank of America Short Sales, they are either going to use a Premier...
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...
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...
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...
REOTrans, now supposedly going by Equator (no information available on their website yet), has teamed up with BAC-Bank of America for a new short sale real time processing scheme. So far the details are scarce as we have already started working with Bank of America on this program but there is no standardization for...
The average person when calling their lender only has one thing in mind; How are they going to help me?!? Rightfully so. Have you ever wondered what was happening on the other end? Well even if you haven’t here’s a little food for though. The average real estate agent deals with a handful of...
As a mortgage lender the bank is not there to sell the borrower’s home. That is why 9 times out of 10 it is better to go through a short sale for all the parties involved than to let it go to foreclosure. There does not need to be a delinquency but it is...