short sale fraud: Short sale payment named as "curtailment" is still fraud if not on HUD
- 06/12/12 04:09 AM
“CURTAILMENT” short sale payment not on HUD is still fraudOn a short sale contract in Oakland, CA, I was told about payment out of escrow as “CURTAILMENT” which is defined as: The act or process of reducing a company's operations in order to bring stability to the company. Curtailment usually occurs when the company has been experiencing unsustainable growth that it is unable to manage effectively. Tactics of curtailment include spinning off subsidiaries, laying off staff, and generally focusing the company's operations on the best products that it is able to create effectively. Curtailment is intended to improve efficiency and increase … (2 comments)
short sale fraud: BEWARE: When short sale lender asks to be paid out of escrow
- 01/18/10 06:35 AM
If you've run into the situation wherein the second or junior lien holder asks for more money than what the first will give towards pay off, keep this in mind: get approvals from both lenders, put this in writing, and on the HUD. From our attorney: Question and Answer Regarding Junior Lienholder's Demand For CompensationQuestion: I am a listing agent on a short sale with two (2) loans secured against the property. The senior lender has issued an approval of the short sale and specified the amount the senior lienholder is requiring that it be paid. It has also specified the … (7 comments)
“CURTAILMENT” short sale payment not on HUD is still fraudOn a short sale contract in Oakland, CA, I was told about payment out of escrow as “CURTAILMENT” which is defined as:
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