Fairfax VA – For many Fairfax VA taxpayers, the term IRS is something that instills fear in them. Here’s what I think about the whole forgiveness thing. Remember, as with all of my writing, all of the info stated below is my personal opinion on this subject. This is not legal or accounting advice. You […]
This week I told you about a couple whom I talked to about Fairfax short sale deficiencies. They told me about how they received a first mortgage with EMC and then got an approval letter on a short sale. None of the language in the latter said “satisfied in full” or words to that effect. […]
Recently, I told you about a couple who inquired about Fairfax short sale deficiencies. This couple told me, “We have a first mortgage with EMC. Just got an approval letter on a short sale. NO language in letter that says ‘satisfied in full’ or words to that effect.” The couple continued with their story: “The […]
Fairfax VA – A Fairfax VA couple recently asked me a question about short sale deficiencies. Here’s their story: “We have a first mortgage with EMC. We just got an approval letter on a short sale but there was NO language in the letter that says ‘satisfied in full’ or words to that effect. It […]
If you can’t afford your Fairfax VA home payment or are facing foreclosure, you should consider a loan modification. Many Fairfax home owners who have applied for loan modifications are getting approved. However, it will take a lot of work to get approved. If you are at risk of defaulting on your home loan, you […]
A lot of people believe that if you pay up some of your back payments, then you’ll have a better chance of getting a loan modification. But that all depends on who you are talking to. When you first get behind on payments for your Fairfax VA home, you’ll mostly be talking with a collections […]
The re-default rate of loans modified in the first quarter of 2009 was 51.5 percent by the end of the year, according to the Office of the Comptroller of the Currency and the Office of Thrift Supervision. “Borrowers were more likely to re-default when their monthly payments aren’t reduced enough in modifications to make staying […]
Fairfax VA – Foreclosing on a house is a time-consuming process that can take some lenders years to complete. Why? First, there are many people who are unable to make their payments on time. Second, the court system has a lengthy backlog of cases. This gives you as the Fairfax VA home owner plenty of time […]
Fairfax VA – When you catch up on all of your back payments and resume paying your original mortgage payment, that is known as a forbearance. While this is a good option for many people, it doesn’t lower payments as much as a loan modification would. The one advantage to a forbearance is that the process […]
Fairfax VA – I recently heard about a got ripped off by a debt collector who asked the man if he could pay them $500. This man wanted to do the right thing so he ended up agreeing to pay the $500. When the debt collector sent him a form to make the payment through […]
