Bank of America is Hosting 45 "Speak to Your Servicer" events in 2012…Short Sale, Rent and Buy Back?
Much needed and long awaited, BofA is stepping up and addressing the homeowners face to face in 45 scheduled meetings across the US. What’s BofA’s objective…probably to tell their homeowners that there is nothing they can do…but in a nice formal manner so as to get it across to their homeowners that we can’t help you, because if we help you…we have to help everyone….and that goes against our inept senior managements ideals of Platinum Parachutes when they get fired later this year…for driving the largest American bank into the...
Read MoreCalifornia Foreclosures Increase 63% in November…More Short Sales
LA Times shared this article… Not surprising that we see this increase…FHA, Fannie and Freddie are filing suit against it’s services on it’s loans that if the Homeowner is in the foreclosure process, that the servicer must proceed with trustee sale dates…or face massive financial penalties. Your government at work… Here’s the article By Alejandro Lazo, Los Angeles TimesDecember 15, 2011 Banks in November scheduled more than 26,000 homes to be sold at California foreclosure auctions, a 63% increase from October and a sign that a surge in...
Read MoreLoan Modifications Failing As Banks Suggest Short Sales To Avoid Foreclosure
Mortgage modifications under the government’s bailout program, permanent and trials, and as well as proprietary modifications made by the big banks continue to fall and are falling at an increasing clip. CNBC.com Around 17 percent of permanent modifications failed under the government’s program, but repeat foreclosures made up nearly 45 percent of October foreclosure starts, according to Lender Processing Services. You might think it’s because there are fewer troubled loans, and there are, but there are still plenty there. It appears the drop is because so many...
Read MoreFairness in Foreclosures Act of 2011 H.R. 3566 No Deficiency Judgment for Short Sales?
I like it when our elected officials get excited about a program that helps homeowners and former homeowners in specific. this bill introduced by Rep. Edolphus “Ed” Towns (NY-10) is a great idea…however, this proposed bill completely eludes the Short Sale. Not even mentioned? Odd that the “Short Sale” which is the “responsible” approach to todays housing problems…simply working with your mortgage company to sell a home for less than it’s worth…and do it successfully is becoming a fairly streamlined process accepted by all banks, would not...
Read MoreBank of America Foreclosure Moratorium! Happy Thanksgiving and Merry Christmas…More Short Sales?
This released from Bank of America… As the holidays approach, Bank of America will comply with applicable Holiday Moratorium requirements to avoid causing emotional distress to the occupants of a property. For this reason, foreclosures, evictions, relocation assistance (cash for keys) or lockouts should not be scheduled or occur during the following Holiday Moratorium dates: Nov. 23-27, 2011, returning to business as usual on Nov. 28. Dec. 22-26, 2011, returning to business as usual on Dec. 27. For VA properties, the year-end dates are Dec. 22 through Jan. 2, returning to business as...
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Attention Agents: Learn how to Short Sell, Rent and Buy Back for your Listings.
