PNC Bank, not to be confused with PNC Mortgage (as if it wasn’t hard enough to already deal with them), has a work flow for dealing with their short sales just like anyone else. It is always important to deal with the right people, at the right time, and and ask the right questions...
Posts Tagged ‘ right ’
Bank of America: How long before they respond using Equator?
Due to our volume of business with Bank of America we frequently get asked approximately how long it takes us to process a short sale with Bank of America or BAC Home Loans Servicing, LP and, like most lenders, who have a very large volume of short sales (which is most) Bank of America’s...
Wells Fargo: Waive your principal goodbye; for now.
In an effort to help defaulting homeowners Wells Fargo is offering their own version of FHA’s Partial Claim Program. This version varies in several ways but is aimed at what Wells Fargo is referring to as a “Principal Forbearance”. Now this is not like the Principal Reductions everyone is speaking about these days or...
Wachovia: ACG connects with Wells Fargo for Bulk MOD Underwriting
In a business where it can really help to know people in high places Wachovia has proven to be no different than the rest. Where in many cases homeowner’s find it difficult to manage through the process loan modification process, with the now Wells Fargo owned company, it looks like there is some light at the...
Litton Loan Servicing: The treasury says 14 days for HAFA. Make it 30.
Where many are taking it upon themselves to make things worse it is nice to see that at least one servicer isn’t. Litton Loan Servicing, though known for it’s terrible loan modification process, is at least taking a few steps in the right direction. The government’s HAFA program put out by the Treasury and...
How to write a hardship letter for a loan modification or a short sale?
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...
One, Bank Failure, Two, Bank Failure, Three, Bank Failure, 2009 Leaves a big dent.
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...
Bank of America (BAC) Finally Warming up to Short Refinancing; Kind of.
In a talk to today with the upper echelons of Bank of America’s defunct division Countrywide now going by BAC we found out that they are in talks to finally role out the option for doing short refinances. Problem is that so far this is only going to apply to those who show up...
Assembly Bill AB 957: Seller no longer dictates Title or Escrow. Buyers rejoyce!
In another strike on lenders and altogether sellers of homes obtained through foreclosure (Hard Money/Private Lenders/Note Buyers we are talking to you!) they can no longer dictated according to Assembly Bill 957 (AB957) as of October 12th what Title and Escrow company must be used in the purchasing of their REO inventory. The lenders...