Do you want to have a say in how Florida spends its hefty share of the mortgage settlement from back in February? Well, today is your last chance.
The Florida Attorney General’s Office will continue to take suggestions via email or phone call throughout the day on how to spend the $300 million that the state has been allotted for aiding homeowners who found themselves foreclosed upon as a result of “robo-signing” practices.
Bank of America claims to offer principal reductions to 200,000 homeowners, but puts several hurdles in front of eligible applicants.
Laurie Goodman is a housing analyst with 28-years of experience in studying mortgage-backed securities for big investment banks. She spoke to CNN's Money Magazine on the idea of housing bailouts and the necessity for banks to be open to working with borrowers to stave off foreclosures.
On February 9, a $25 billion settlement was announced with Ally Bank, Bank of America, Citicorp, JPMorgan and Wells Fargo, five of the largest mortgage lenders in the country, due to perceived failings on the parts of the banks in dealing with homeowners. With the exception of Oklahoma, every state, as well as Washington D.C., took part in the settlement agreement in an attempt to facilitate the resurgence of the housing market.
Post discussing options for luxury real estate owners utilizing short sales or strategic default.
Credit ratings can be one of the most challenging obstacles to any prospective homeowner. Oftentimes, those who have had to short sell their homes feel that they will not qualify for a mortgage on a new home because of the effect it had on their credit rating. This is absolutely not the case! In fact, with the low market prices and historically low interest rates, there has never been a better time for buying a new home. Amber D. Smith, a mortgage consultant at Wells Fargo, offers some advice to those looking for steps to take in repairing a low credit score in regards to making a new home purchase.
I've been getting a lot of questions lately about the HAFA Program and how it relates to short sales, and why people should pay attention to it if they have been thinking of selling their home. There are loads of other websites out there that explain and define the HAFA short sale program, but this is my attempt at a very clear and concise explanation.
You might be writing a hardship letter for any variety of reasons: loan modification, short sale, or several others. This particular article relates to writing a short sale hardship letter, but most of the hardship letter guidelines and certainly the hardship letter sample is useful for almost any type of hardship letter.
"Do I have to miss a mortgage payment to do a short sale?" I hear this question a lot. It's a common misconception that being late on your mortgage payment is required for short sale approval, but it simply isn't true.
According to an article in New York Times, mortgage lenders are offering cash incentives to homeowners willing to short sale. Shed the high payment of an upside down mortgage and get paid to do it!