What is Mortgage Insurance? Mortgage insurance is a financial guaranty for the lender that will help to reduce or eliminate a loss in case the borrower defaults on their mortgage. MI is almost universally required on loans where there is less than twenty percent...
WHAT IS A PRELIMINARY TITLE REPORT? A title is a legal document listing the history of ownership of a home. After the buyer and seller have reached mutual acceptance, an attorney or title company will pull title on the subject property and review it for any problems...
Is Chase Using Equator Now? We all have heard been hearing for quite some time now that Chase is going to begin using the equator platform to process their short sales but it has yet to take place. It seems it may now be closer now then ever before. A negotiator at...
Senate Bill 458 On July 18 Gov. Jerry Brown signed Senate Bill 458 into law. This new California law will protect homeowners who are pursuing short sales by prohibiting second lien holders from pursuing deficiency judgments. SB 458 effectively extends the...
Short Sale Service Release Bank of America has and will continue to release pools of loans. No loan is safe from a short sale service release even if the short sale is already approved. This seems to be even more interesting because the lender the file is going to...
