Sellers

How Long Until a Short Sale Seller Can Buy Again?

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I’ve got yet another chart to share with you that addresses one of the most common questions asked by short sale sellers, participants in bankruptcy proceedings, and those who have been touched by foreclosure. You may remember the last waiting period chart that I shared that reviewed in great detail all of the loan programs [...]

June 13, 2011 2 comments CONTINUE READING THIS POST →

One Foreclosure Alternative – Deed-in-Lieu

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We often talk about different short sale incentive programs—HAFA, TAP, Bank of America Cooperative. Some of these programs also offer options and incentives for borrowers who are considering a deed-in-lieu of foreclosure. I do not write about deed-in-lieu very much, but thought it an appropriate topic since I have gotten a few calls and emails [...]

June 6, 2011 5 comments CONTINUE READING THIS POST →

Deficiency Judgments and Short Sales

I recently shared my thoughts on the most frequently asked question that hits my inbox with respect to short sales. I stated that the most common question that people ask me is about the time it takes for me to obtain short sale approval. To read my answer to that question about short sale approval, [...]

November 28, 2010 1 comment CONTINUE READING THIS POST →

Latest News on Government Loan Modification Program

My kids get fairly decent marks in school. They perform this way because it is expected of them. Unfortunately, however, our federal government and the mortgage servicers are currently not getting very good marks with respect to the Home Affordable Modification Program (HAMP)—even though good grades are expected. Here are the latest statistics with regard [...]

November 21, 2010 2 comments CONTINUE READING THIS POST →

Governor Approves Senate Bill 931

Governor Approves Senate Bill 931 On September 30, 2010, Governor Schwarzenegger approved and signed off on Senate Bill 931. Here is a short summary of Senate Bill 931: Effective January 1, 2011, any mortgage lender who holds a first trust deed cannot obtain a deficiency judgment against the seller after a short sale. If the [...]

October 8, 2010 9 comments CONTINUE READING THIS POST →

Senate Bill 1178 Vetoed by Terminator

Senate Bill 1178 Vetoed by Terminator Just the other day, on Thursday, September 30, Governor Arnold Schwarzenegger vetoed Senate Bill 1178—a bill that would have provided homeowners who have refinanced with the same “anti-deficiency” protection they have in their original mortgage loans. As the law reads right now, this “anti-deficiency” protection is only provided to [...]

October 2, 2010 1 comment CONTINUE READING THIS POST →

Short Sale Negotiations with a Fannie Mae Loan

Short Sale Negotiations with a Fannie Mae Loan In the past few months I have written several posts on my experiences with short sale negotiation on a Fannie Mae Loan. I have reported about the latest trends in these short sale negotiations based on my experiences with the short sale negotiations at my third party [...]

September 6, 2010 5 comments CONTINUE READING THIS POST →

Short Sales and Equator

If you are processing short sales regularly, then you are already familiar with the word ‘Equator.’ You saw the title of the post, Short Sales and Equator, and you were not thinking about any other hemisphere. That’s good; you are one step closer to short sale success. Equator is an Internet-based software platform (a website) [...]

August 17, 2010 5 comments CONTINUE READING THIS POST →

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