Short Sale Help
Short Sale Decline
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HomePath Fannie Mae Desk
HomePath Fannie Mae Assistance Fannie Mae (FNMA) has introduced an extension HomePath for Short Sales tool to assist with FNMA short sale challenges. This tool was created to assist in the short sale escalation process dealing with loans with FNMA as the investor. You...
Short Sale Standoff For Approval Letters
Short Sale Standoff. Each Lien Holder Wants The Others Approval First Prior To Moving Forward In some cases you will find both lien holders unwilling to proceed without the others approval letter. A short sale standoff in the past such as this used to make deals...
Ocwen Purchases GMAC Servcing Rights
Ocwen Purchases GMAC Servicing Rights Ocwen Financial Corporation is continuing to grow at a very rapid rate. They have just won an auction for Rescap's mortgage servicing and origination assets. What Does This Mean For My Loan? One thing that this means is is that...
Freddie Mac Counter Is Too High
Freddie Mac Counter Too High! There was an update that took place November 2013 for Freddie Mac's guidelines. Since this update Freddie Mac counters have been coming back at an all time high. This has caused a huge delay in file processing due to value disputes...
Soft Decline And Hard Decline In Equator
What Is A Soft Decline And Hard Decline In Equator Entail When working a short sale through equator with Bank Of America it is important to be familiar with the two types of decline that can happen in equator. The two types of decline Bank Of America refers to, the...
Equator Update For Well’s Fargo
Equator Update Changes Tasks It's about time this update has rolled out for Well's Fargo equator system as previously it was a tedious process of uploading a large volume of documents and completing task after task. This new update seems promising with removing some...
Lien Settlement Hardship Second Mortgage
Satisfactory Lien Settlement Hardship When attempting a 2nd lien settlement it is imperative to be able to show a true hardship paper. The lender will inspect all aspects of the borrowers financials. These documents include not short of all bank statements, pay stubs,...
HAFA Relocation Incentive Denied
HAFA Relocation Incentive Denied It is important to know that just because a short sale is going through HAFA that does not guarantee that the borrower(s) will be eligible for the relocation incentive of up to $3,000. Typically the main reason why a borrower would not...
Texas Homestead And Judgments
Texas Homestead Regulation Texas has some of the strictest regulations in regards to a borrowers homestead in the nation. What Is A Homestead A homestead is a a person's or family's residence, which comprises the land, house, and outbuildings. When there are judgments...
CO-OP Short Sale Foreclosure Update
CO-OP Short Sale Guideline Update Bank Of America has updated their guidelines in regards to their Cooperative Short Sale program and foreclosure sale date holds. How will this affect transactions? Many agent's often have offers on the table, but will not submit them...