San Diego North Valley Real Estate Blog: Common Sense Underwriting...Is That You My Old Friend...? http://ping.fm/rfYcB

Short Sale almost Killed by Servicer Greed

Here is a good example of this happening. A real estate agent had a short sale with one of the largest lenders in America. The short sale negotiator said that they would not approve the short sale unless the seller came to closing with 50k cash. The sellers said no way.

Turns out the negotiator was not following Fannie Mae’s Short Sale Guidelines

http://ping.fm/9bdRg

Lenders aren?t doing Loan Modifications on Car loan either

Escondido CA – I just saw a story in the news. It appears that some companies were charging $275 to $400 for car payment reductions. They would attempt to negotiate lower payments with the lender on the car loan.

Discover how other sellers successfully did a short sale and request a free consultation.

The only problem was that lenders were unwilling to offer payment reductions. I agree with the premise that auto lenders should be willing to reduce payments in certain circumstances. For example, many car leasing On the road Lenders aren't doing Loan Modifications on Car loan either companies would not offer to sell cars at the end of a lease for the fair market value.
http://ping.fm/Zu6b0

Another Guild Mortgage Short Sale Approved

Chula Vista CA - Yes, we are happy to announce the bank has approved the Short Sale of 1298 Fools Gold in Chula Vista, a home listed for sale as a Short Sale by Team member Joe Phair of Oak Tree Realty Group. We have to thank the people who made this happen.

http://ping.fm/C31tZ

Escondido Short Sales | Who makes the decision to approve or deny your short sale? | My Blog About Escondido Short Sales & Escondido Loan Modification Help

Escondido CA – Is your loan with a large lender such as Wells Fargo or Bank of America? They usually don’t make the final decision on your short sale. Here is why. In most cases, the lenders are working as a servicer. They are handling the loan for a third-party (the actual owner of the loan.)

From: http://ping.fm/6Arlc

Last Month Bank of America, Ally Financial (erst GMAC), and JPMorgan Chase have all temporarily frozen foreclosure proceedings to look into possible problems with mortgage support. (Robo Signing). Bank of America suspended foreclosures in all 50 states, but latterly denoted they will move forward in the 23 states that conclude foreclosures through their judiThink a Freeze on Forelcoures can save youcial systems. Ally and Chase have gone forward to halt legal proceedings in these state as well.

For homeowners having problems stimulating mortgage payments, this may appear like marvelous chance to stay in their homes. The unfortunate realism is that the foreclosure machine will start once again, and for those fronting foreclosure, the real chance lies in the extra time to find better options.
http://ping.fm/iYHgd

Escondido Short Sales: Why do so many short sales fail?

Escondido CA – What can you do when you have a good short sale offer and the lender won’t accept it? You’ve had the property on the market for 3 months and this is the highest offer that has come in.

http://ping.fm/LHQEw

San Diego North Valley: Worried about Making Your Mortgage or Rent Payment?

http://ping.fm/UdzFS

San Diego North Valley Real Estate Blog: San Diego North Valley Short Sales: A Common Myth About Banks and Short Sales http://ping.fm/o7fd3