by ste_admin | Sep 6, 2019 | Uncategorized
I recently had a short sale client with an FHA Reverse Mortgage. I view Reverse Mortgages as planned foreclosures. In a Reverse Mortgage the homeowner receives money from the lender for a certain period of time, depending upon how much equity they have in the...
by ste_admin | Apr 25, 2019 | Uncategorized
The Loan Servicer (Wells Fargo, BOA, Mr. Cooper, Ocwen, SLS, SPS, DiTech, etc…) cannot get in trouble for declining a short sale. The Loan Servicer, however, can certainly get into what may become some rather expensive trouble for approving a short sale improperly....
by ste_admin | Apr 25, 2019 | Uncategorized
I often hear “aren’t we done with short sales?” Well compared to 2011-2014, we are certainly seeing less than the numbers we experienced then. However, there will always be short sales because that has become one of the primary ways to handle loans in default among...
by ste_admin | Dec 31, 2015 | Uncategorized
As we have discussed previously, a short sale requires a market price offer based on the ‘sold comps’ of that neighborhood. The servicer usually sends a real estate agent to the property to do an interior BPO or an appraiser to do a full appraisal in order to...
