All Posts Tagged With: "lender"
Mortgage Paid? How Do I Know?
It would be nice to report that every mortgage payment is promptly received and correctly processed. However, it follows that in a country with some 45 million first mortgages that there are millions of opportunities to screw up and that sometimes loan payments made in good faith are not properly handled.
What can you do?
If [...]
9Mar2010 | Peter G. Miller | 0 comments | Continued
What Kind of Foreclosure Title Can I Expect?
With huge numbers of foreclosed properties now available for sale you have to wonder what type of title you might expect if you purchase one of these distressed homes.
The lender selling REOs (real estate owned by a bank or other lender) does actually care how you own title, What it does care about is that [...]
Is Foreclosure Flipping Legal & Legit?
If by foreclosure flipping we mean quickly buying and re-selling a foreclosed property bought from a lender then there’s no reason why such a transaction cannot be legal and legit.
Think about stock. You buy stock in the morning and sell it in the evening. You flipped the stock. Does anyone care? No.
Think about a foreclosed [...]
What Is The BPO Foreclosure Connection?
When lenders take back a property through the foreclosure process they want two things: They want to know how much it’s worth and they want to know as cheaply as possible.
One way to determine value would be to get an appraisal of the property. Appraisals are independent estimates of value developed by licensed appraisers, valuations [...]
HUD Offers Free FHA Lender Locator Tool
It probably surprises people everyday, but nope — not all lenders originate FHA mortgages.
Given that FHA loans make up a big percentage of the marketplace this omission may seem odd, but in fact it makes much sense: To be an FHA-approved lender you need to meet certain capital requirements and other standards. As well, you [...]
How To Write A Successful Loan Modification Letter
More than 2.8 million homeowners faced foreclosure during the past year according to RealtyTrac.com. Honest, honorable people with every intent of paying their debts have found themselves with impossible financial situations because of the Nation’s massive economic downturn as well as the use of toxic mortgages. In many cases owners are both unable to sell [...]
21Dec2009 | Peter G. Miller | 0 comments | Continued
Credit Scores: Why Do The Numbers Change?
Question: My credit score was 670 a month ago, now it’s 650. What happened?
Answer: Credit scores can be seen as pictures which show your credit standing at one point in time. At any other point in time the picture may be different.
Actually, it would be amazing if credit scores did not change — that would [...]
How To Pick On Appraisers
Many in the real estate community are upset with the newly implemented Home Valuation Code of Conduct (HVCC) and want it suspended or revoked so we can go back to the good-old-says when it was okay to threaten and pressure appraisers.
The HVCC was an agreement worked out between New York Attorney General Andrew Cuomo, Fannie [...]
New Appraisal Code Should Help Homebuyers
Freddie Mac and Fannie Mae’s new Home Valuation Code of Conduct went into effect as of May 1st, a document which is important to buyers, sellers and lenders.
For a number of years appraisers have reported pressured to meet certain price points when evaluating a home, pressure placed on them by lenders and loan officers who [...]
Do We Have To Make The Last Mortgage Payment When Refinancing?
The closing agent will check with your current lender prior to settlement to get a pay-off for the existing loan. If you have a payment due on the first of the month some will tell you it should be paid.
Others in the lender community argue that it’s okay to bring the last payment to closing [...]
© Copyright 