Mortgage Loans And Refinance For Bad Credit

What is Mortgage Forbearance?

If you are behind on your mortgage due to hardship and the hardship has been resolved, you may qualify for forbearance from he lender.  The damage for this transaction is minimal compared to other options. For those of us who have been strained to make mortgage payments over the past few years, there is an [...]

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Doing Nothing to Stop Foreclosure?

Many homeowners have never had difficulty paying their debts.  Confused by their inability to meet the mortgage terms, some of these homeowners choose to do nothing. Doing nothing to stop foreclosure and not responding to a lender’s collection notices or telephone calls can have serious repercussions. There is no question that most homeowners ever expected [...]

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HAMP Short Sale Guidelines

Many homeowners have never had difficulty paying their debts.  Confused by their inability to meet the mortgage terms, some of these homeowners choose to do nothing. Doing nothing about a lender’s collection notices or telephone calls can have serious repercussions. There is no question that most homeowners ever expected to be in this dilemma.  However, [...]

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Deficiency Judgement After Foreclosure

If you are in default and you consummate a short sale or go through foreclosure, the lender has the right to file a deficiency judgment in the amount of the deficiency between the selling price and the principal balance of the mortgage.  This can and will normally happen after you file for foreclosure or begin [...]

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Comparable Market Analysis Free?

The comparable market analysis is used by buyers, sellers and real estate agents to establish the market value of real estate, but does anyone offer the comparable market analysis for free? The Comparable Market Analysis (CMA) is the favorite tool for realtors and real estate agents who choose to assemble documentation to prove the market [...]

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Broker Price Opinion Services

A Broker Price Opinion (BPO) is most often used by a bank in a short sale transaction or foreclosure.  Relocation firms also typically use  broker price opinion services as part of their operation.  The broker price opinion (BPO) is a tool used by banks and relocation firms to support a transaction. The BPO is not [...]

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HAFA Short Sale Timeline

A short sale opportunity exists when the seller’s mortgage is greater than the market value.  There are government programs that provide cash incentives to banks and sellers who enter a short sale. The short sale has become the option of choice for homeowners whose mortgage is upside down and who have incurred a hardship that [...]

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Mortgage Bankruptcy Cram Down – Understand Your Options

With the recent mortgage bankruptcy cram down, it is important to understand the consequences of each type of bankruptcy and how it can influence a homeowner and their ability to keep their home. There are two types of bankruptcy that offer borrowers protection from homeowners.  A Chapter 7 bankruptcy requests the court to discharge all [...]

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Appraisal problems with mortgages

Real estate appraisal problems Appraisal practices came under fire as housing prices began to plummet during the recession. Observers determined that eager banks were too lenient with the price valuations. These evaluations combined with lax lending practices to help create a perfect storm. Real estate appraisal problems When mortgages based on erroneous valuations were offered [...]

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Orange County Property Appraisers – Real Estate Prices are Now “Real” Again

To prevent another real estate crisis in Orange County, CA, property appraisers are now held to higher standards than ever before. Property appraisers are licensed by the state in which they practice. States have different standards but the typical licensing procedure is that the prospective appraiser must compete certain courses and then undergo a period [...]

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