Nationstar’s New Short Sale Requirements for Buyers
If a homeowner is “underwater” on the mortgage, meaning that the fair market value of the house does not equal the amount owed on the loan note, then the homeowner cannot sell the house through traditional means. A traditional sale recoups sufficient funds to pay off the amount owed to the homeowner’s mortgage company or […]
New HAMP Guidelines Take Effect June 1, 2010
The federal government provided new Home Affordable Modification Program (HAMP) outreach and communication guidelines for foreclosure actions while evaluating the borrower. These guidelines provide additional protection for delinquent borrowers who have filed bankruptcy but would otherwise be eligible for HAMP benefits. Some key highlights from the directive include: FORECLOSURE The servicer must evaluate the borrower’s […]
BOA Short Sale Approval Letter – Second Trust
BOA Short Sale Approval Letter – Second Trust http://www.virginiashortsaleexpert.com/2009/06/bank-of-america-short-sale-approval-letter-second-trust.html