What is a Partial Claim? When a borrower who purchased their home with a Federal Housing Authority Loan (FHA) falls delinquent on their they may apply and be considered for review of a loan modification. Typically if approved for a loan modification and when the...
The Mortgage Forgiveness Debt Relief Act is a government bill that offers relief to most homeowners who would normally owe taxes on the forgiven debt after performing a short sale. The purpose of this act is to help homeowners avoid additional financial hardship by...
Chase Equator Officially Rolled Out We’ve been hearing this was going to take place for quite some time, but now Chase representatives actually have initiated begun initiating our short sale transactions into our equator account. Short Sales through Chase...
What is a Customer Relationship Manager? Customer Relationship Manager’s also known as a “CRM” are assigned to the loan accounts at Bank of America for customer assistance. Almost all mortgage servicers have representatives similar to a Customer...
What is a charged off account? When there is a Junior Lien (secondary mortgage) that is delinquent more than 120 -180 days a creditor may choose to charge-off the debt owed. A charge-off is the declaration by a creditor that an amount of debt is unlikely to be...
