Since I first published this article on short sales, they have become even more widespread and many of my clients have been seeking loans to purchase a “short sale.” Many people are still not sure how they work, so I thought it a good idea to reprise the article this week.
Today, mortgage fraud is considered as one of those organized fraud that authorities are finding hard to crack down. With its increasing number of participants, including the customers itself, the law is committed to eliminate any form of fraud in the industry. No wonder why the campaign Dyer Beech against Fraud works so well.
By John L. Hosack and Joffrey Long
Finally! The delays are over and your foreclosure is going to sale. The trustee asks for bidding instructions. The grand total owing on your loan (a first trust deed) is $575,000. The value of the property is $500,000. Would you open the bidding at $575,000? It could be a big mistake. Surprisingly, many otherwise sophisticated lenders and servicers, including large banks, are completely unaware of this problem.
Looking for the lowest mortgage refinance rates? Then read this interesting piece of info.
Now you are ready to buy a home and you are hearing that you need money for a down payment. Wow you had not thought about that. So you are wondering what you can use the down payment. Read on for some cool ideas where you can look for that needed money.
