short sale: Home Valuation Code of Conduct: Now What?
- 08/10/11 10:24 AM
Home Valuation Code of Conduct: Now What? Frequently Asked Questions The way appraisals are ordered and transmitted to the client has changed!
The way appraisers must determine value has changed!
Listed below are the most frequently asked questions regarding appraisal-ordering procedures and what now must be included on an appraisal report. Just a note—HVCC applies to conventional loans only. FHA, VA and USDA loans are exempt from this rule.
How does an appraisal get ordered?
You must order an appraisal thru an Appraisal Management Company who in turn, assigns the appraisal order to ANOTHER appraiser—or … (2 comments)
Be careful when listing a home, going thru the foreclosure process and is currently in a "redemption period". A redemption period is the time given to the property owners to come up with ALL of the money to pay off the balance of their mortgage, the attorney fees and any unpaid interest.
Yes, you can sell the home during the redemption period, but the following conditions must apply:
1. Property must be in a state where it is common & customary to sell a home in redemption.
2. Title insurance must contain a specific … (0 comments)
short sale: Rent vs Own! You tell us!
- 06/15/11 11:03 AM
WHY rent when you can BUY? •ü There is no reason to rent when you can own! •ü Now's the time take advantage with today's lower interest rates •ü Take advantage of the BUYERS market! •ü Down payment assistance available (income must qualify) •ü Multiple loan programs to help you & your family purchase Sunny's Group is fully staffed and prepared to handle all of your mortgage lending needs. At Sunny's Group we strive to provide you with greatness. With our expert team and creative financing you are sure to receive the best customer service and loan programs designed around your … (2 comments)
short sale: Advising Foreclosure, Short Sale and Deed in Lieu clients
- 09/24/10 07:20 AM
Advising Foreclosure, Short Sale and Deed in Lieu clients If you are working with a client who has had a short sale or a deed-in-lieu in their past...or you are listing a home and your sellers may have the same issues...Fannie announced new waiting periods, as of July 1, 2010, before being eligible for another loan. The waiting period is defined as "from the date of the pre-foreclosure to the date of application". These policies favor borrowers that work with their servicers to avoid Full Foreclosure either by Deed-in-Lieu, Pre-foreclosure Sale, or Short Sale. Fannie defines ALL Pre-foreclosures as any … (0 comments)
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