Fairfax VA – Many agents run into issues when trying to complete a short sale on a home with more than one mortgage. We recently experienced this when we had a short sale with a first mortgage, a second mortgage, and a third lien. The third lien was an old credit card judgment, which had […]
Fairfax VA -It can be stressful to be a Fairfax Va home owner who is facing foreclosure. You don’t know what is going to happen, how much longer you have in your house before the bank kicks you out on the street or how much money you’re going to owe your lender after all is […]
Fairfax VA – Shocking Fact: Most banks don’t own the loans they are handling. In fact, one of the top four banks in the nation only owns about 20 percent of the loans they hold. The true owner of the other 80 percent is Fannie Mae, Freddie Mac, a Wall Street Trust or a pension […]
Fairfax VA – We recently chatted with someone who completed a Fairfax VA loan modification with HSBC. I was amazed at how easy the process was for them. They didn’t have to wait 60 days for a person to be assigned to their case. They didn’t have to spend hours filling out paperwork. The fax […]
Fairfax VA – I recently heard a shocking story about a Massachusetts couple who owned a paid off home, which Bank of America then proceeded to foreclose on. According to the St. Petersburg Times, the couple bought the home in Spring Hill, California and paid cash. They figured that would make it safe from the […]
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 […]
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 […]
