mharper | June 8, 2009
Owing to the subprime mortgage crisis, the mortgage market in United States fell like a pack of cards. The Make Affordable Plan was such that it failed to address problems of homeowners with second mortgages. The Making Home Affordable Plan was greatly criticized as more and more homeowners lost their homes to foreclosure and were [...]
admin | June 3, 2009
Freddie Mac released bulleting Number: 2009-5 on March 4, 2009 in support of the federal Making Home Affordable Program. The bulletin included eligibility requirements for the Freddie Mac Relief Refinance Mortgage. The following are key aspects of that Bulleting:
admin | June 2, 2009
Per: Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers
Pre-foreclosure Sales Commission guidelines are as follows:
admin | June 2, 2009
What is a Short Sale?
Why would a mortgage lender agree to a Short Sale?
What are the requirements to begin the short sale process?
Will I be responsible to pay taxes on the amount forgiven?
What if I don’t want to sell? Should I try a loan modification?
admin | June 2, 2009
In February 2008, the Short Sales Work Group (established by NAR) met to put together a report which addressed Realtor’s concerns about Short Sales. The work group submitted its report in May 2008.
