Wow! I have spent the past hour or so reviewing the Home Affordable Modification Program (HAMP) guidelines for servicers and homeowners PLEASE, PLEASE read these guidelines prior to requesting a loan modification in Maryland. You will be shocked at the amount of beneficial information that is a
...
12/02/2009
A growing concern among lenders and our government is the increase in homeowners who are "walking away" from their homes. Many homeowners facing foreclosure are choosing to "walk away" and let the home go into foreclosure. While, in certain situations this may make sense, remember if a home goe
...
11/30/2009
WOW! It appears that our government is finally starting to see the light! This will be a huge win for homeowners struggling with loan modifications and short sales. The Treasury Dept. in conjuction with The President is supposed to be unveiling a new program this week to streamline the loan mo
...
11/29/2009
If you own a home in Maryland, you may have received numerous letters and/or calls regarding a loan modification. I have personally modified a loan on an investment property that I own, and have also helped several colleagues and clients with the process, so I would consider myself a resource fo
...
11/25/2009
An article was published in the Wall Street Journal today on a dilemma facing many homeowners. Should I stay or should I walk away? I get this question a lot from homeowners in Maryland considering a short sale and my answer varies depending on their overall financial picture. My background as
...
11/23/2009
More disturbing news was released today on Marylands Foreclosure Crisis. In the third quarter of 2009 13.9% of homeowners in Maryland were seriously delinquent or in some stage of foreclosure. This is up from 7% the same time last year, according to the Mortgage Bankers Association. Many do no
...
11/19/2009
I get this question all of the time and unfortunately the answer is YES. However, how much will depend on several factors. How many months late are you currently? Was your credit OK, prior to a short sale? (meaning was this a temporary setback), How long of a credit history do you have? These are
...
11/17/2009
Homeowners if you are facing foreclosure, DO NOT just walk away consider a SHORT SALE. Wachovia bank is quietly offering homeowners a cash incentive to pusue a short sale instead of foreclosure. This is being done without much fanfare and without much press. Currently Wachovia is the ONLY bank
...
11/16/2009
Let me first state that neither I nor Keller Williams Realty are advising homeowners to default on thier mortgage and homeowners should consider the legal, tax and financial consequences of doing so. In a research paper written by Brent White, Associate Professor of Law, University of Arizona, Mr
...
11/02/2009
This is an interesting article http://www.bloomberg.com/apps/news?pid=20601103&sid=aNQJ9BUq2_yM
10/29/2009
