Excellent news for people who specialize in short sale investing. The second quarter Office of the Comptroller of the Currency Mortgage Metrics Report covers mortgage performance on loans reported by a selection of national banks and federal savings and loans representing 63% of all outstanding loans in the United States. Performance of HAMP modifications, foreclosure [...]
Great news for investors buying short sales and a sign that short sales are becoming more and more attractive to major lenders has recently come out in the form of incentive programs for Homeowners and their Agents. Wells Fargo has recently enhanced its move-out incentives for distressed Homeowners who are willing to sell using a [...]
The new guidelines make the program more flexible in hopes of attracting more qualified distressed owners to voluntarily agree to a Short Sale of Deed-in-Lieu (DIL) of foreclosure. The expanded program should provide new options to those who have been rejected from loan modification programs.
Posted on September 2, 2010 in
HAMP,
economy,
short sales with
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JP Morgan Chase has added 8,000 loan officers and other staff to help process loan modifications more quickly with the intention of significantly reducing the number of its loans that go into foreclosure.
Many homeowners feel they must make a decision between two evils—foreclosure or bankruptcy. More often than not, the decision is bankruptcy because it is seen as a way to avoid losing the house.
Posted on July 6, 2010 in
economy,
foreclosures with
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The five hardest hit foreclosure states have been granted extra funds to help homeowners who face foreclosure in these states.
Arizona will use $125.1 million for loan modifications, including principal reduction, assistance to eliminate second mortgages, and assistance to the unemployed and under-employed to make mortgage payments.
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