Loan Modification and Short Sale Tips

By
Services for Real Estate Pros - Paul Warkow-D.G. Weber Law Associates
Information for distressed homeowners with regard to loan modification and foreclosure defense. There is also advice to complete the short sale process successfully!
RECENT BLOG POSTS
In an important move, borrowers will know if their credit score impacted their mortgage rate. The FTC and Federal Reserve want consumers to be informed if they’re receiving higher interest rates as a result of their credit history.  Beginning in 2011 (no, not 2010), consumers will be notified if ...
12/29/2009
On November 6th, HUD released two new condo guidelines.  The first set (2009-46A) is their temporary guidelines take affect on December 7th, 2009 and expire December 31st, 2010 include extending the spot check process through February 1st, 2010 as well as a lenient project approval process.  The ...
12/28/2009
At this time of year, our thoughts and prayers go out to the men and women of our military and the sacrifices they make.  As way of recognizing their sacrifice, the VA loan was established.  After almost 70 years, VA mortgages are still providing loans to members of the military.  In fact, this y...
12/24/2009
I came across an interesting story on the web.  Apparently a real estate agent in Kansas has come up with a novel marketing campaign.  If you buy one of his listings, he will throw in a gun.  Click here for the web article.  Some states allow inducements, others do not.  I wonder what other induc...
12/22/2009
Under the new RESPA rules, starting January 1, 2010 lenders are going to be required to give borrowers a HUD booklet within 3 days of applying for a mortgage.  Here is a link to see a copy of this booklet.  To call this a booklet is totally misleading.  Now a borrower will be handed this 49 page ...
12/22/2009
Effective January 1, 2010 FHA is changing the requirements for ordering appraisals.  It is some what similar to the Fannie HVCC but not quite.  Here are the highlights:   Cannot accept appraisals prepared by an appraiser who is selected, retained or compensated in any manner by a mortgage broker ...
12/17/2009
One of my previous posts about forcing banks to reduce mortgage balances through the bankruptcy cram down procedure generated much discussion.  A prominent financier, Lewie Ranieri also believes that the way out of this mess is reduce mortgage balances on underwater homes.  If you want to read th...
12/16/2009
Well, actually it was not listed at a million but at $999,999.  I am working with a listing agent to prequalify potential purchasers when they attend an open house.  This was my third open house.  The listing agent is a very good producer and is well respected.  Unfortunately she did not attend t...
12/15/2009
With all of the foreclosures, there has definitely been a demand for rehabilitation loans to help homeowners not only purchase but make improvements to the home they are purchasing. The most popular program for this has been the FHA 203K program.  However, the FHA 203K programs has limitations no...
12/14/2009
  There comes a point where the evidence is so overwhelming and so compelling that you are forced to reassess your position.  That has happened to me regarding forcing lenders and/or servicers to either modify mortgages or approve short sales.  My position was that even though lenders may act foo...
12/11/2009
Rainer
149,427

Paul Warkow

Ask me a question
*
*
*
*
Spam prevention

Additional Information