mortgage: Increase in prices saved millions of Homeowners across America - 10/28/12 03:35 AM
Increase in prices saved millions of Homeowners across AmericaHome prices are significantly rising. In just the first six months of 2012, CoreLogicreported that the number of homeowners who have escaped being in an underwater status are about 1.3 million, and about 2 million homeowners will receive equity if the worth of state homes will add up an increase of 5 percent.
Residential Homes that have a mortgage lower than their standing credit decreased to 22.3 percent last June from 23.7 percent as recorded last March, CoreLogic said.
CoreLogic translated that from 12.1 million when 2011 closed, to 11.4 last March, then … (0 comments)

mortgage: Gainesville Short Sale Cost - 07/21/12 01:05 AM
Gainesville Short Sale Cost Gainesville FL- If you think your life would be most livable without worrying for mortgage dues per month, then a short sale might just be the kind of rescue you needed to get rid of a home you can no longer afford. You might have been considering short sale for a long time but is not sure how to get started-- how the process works, the legal requirements needed, and most of all, how much it will cost you to short sell. The answer is plain and simple-- short sale will not cost you anything. If it … (1 comments)

mortgage: Preparing for a Gainesville Short Sale - 07/14/12 01:31 AM
Most of the sellers I have had contact with are good people who fell upon hard times and many of them are embarrassed about the down spiral of their credit. It is unfortunate that many of them have to borrow money or exhaust their savings just to pay their mortgage dues, in hopes to postpone the inevitable and most undesirable circumstance. There are also people who couldn’t care more and just walks away. These are the people who will least likely be qualified for short sales. They just leave the keys and run after they have milked the system for all … (1 comments)

mortgage: Possible Outcomes If your Short Sale Approved - 07/05/12 11:49 PM
If the short sale is approved, explain the following possible outcomes to the seller: - All liens will be released, in full satisfaction of mortgage with no conditions. - Full satisfaction of mortgage with a small or large amount of contribution from the seller. - Full satisfaction of mortgage with an unsecured promissory note executed between seller and lender, with seller’s cash contribution at closing. - Full satisfaction of mortgage with an unsecured promissory note executed between seller and lender, without cash contribution from any party at closing. - Release of lien with mortgage reporting of less than full pay off. … (1 comments)

mortgage: Is your Gainesville Short Sale Lender Delegated? - 06/13/12 11:06 PM
Is your Gainesville Short Sale Lender Delegated? You may be surprised to find out what “delegate” means in short sales. To come straight to the point, the word “delegate” in short sale literally means what it is, to entrust to another. You may be making payments directly to Bank of America, Wells Fargo, or Nationstar, but that doesn’t mean that they are your lenders. In this case, they are referred to as “servicers”. This is because, even though these lenders have lent you the money, they may have subsequently sold your loan to an investor which legally transfers their authority over … (1 comments)

mortgage: Gainesville Florida Foreclosure Fraud Up - Avoid Scams - 05/23/12 11:50 PM
Gainesville Florida Foreclosure Fraud Up - Avoid Scams The Homeownership Preservation Foundation (HPF) has informed us that home foreclosure prevention scammers are getting busy this year, taking advantage of foreseeable foreclosure crisis. Gainesville Florida homeowners need to be very wary of existing scams. It is imperative that Gainesville underwater homeowners do their homework to understand their options and that there are not any quick fixes! How to Avoid Short Sale Scams. The HPF, a network non-profit group, which helps distressed homeowners avoid foreclosure through their HOPE hotline, confirmed that the number of mortgage foreclosure fraud has increased to about 60% this … (1 comments)

mortgage: Fannie Mae - Buy a Home 2 Years After a Short Sale - 04/26/10 03:38 PM
Forecloure alternatives are now more attactive to struggling homeowners.  As long as the borrower's credit score is still above minimum required to obtain a loan, Fannie Mae will consider qualifying the borrowers for a mortgage.
We should be careful about what this may bring to the table.  Many current homeowners may walk away from their mortgage knowing that they have an alternative in 2 short years vs. 4 that is currently required.
 
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