Mortgage Backed Securities & Credit Default Swaps There are three (3) main types of MBS that exist in the marketplace today: Mortgage Pass Through’s Stripped Mortgage Backed Securities Collateralized Mortgage Obligations The Process...if you can call it that. Most people just view a mor
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07/26/2013
“A short sale is when you sell your house for less than what you owe on your mortgage. The bank agrees to accept the money you sell your house for―even though the amount is less than what is owed―and still consider your mortgage (or a portion) as paid off.” Some benefits of a short sale include:
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06/25/2013
Short Sale Cover Letter (Lender) (Attn: Loss Mitigation Dept.) (Re: Seller Name) (Account Number) 123 Sunshine Ave Homeloan-Land, US 12345 RE: Property Address, City, ST ZIP Please accept the following information along with the complete short sale package that follows. This particular p
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04/05/2013
Short Sale Guidelines for BOA Short Sale in Naples, FL I just wanted to share these Bank of America (BOA) guidelines with everyone out there since it’s rare to have a negotiator supply the investors specific guidelines right from the book! They were copied and pasted right from the investors gui
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04/03/2013
Short Sales & My FICO Score The TRUTH is - Lenders are inclined to agree to a short sale if a short sale results in less loss to the lender as compared to foreclosure...it is ALL based on MONEY! The advantages of a short sale to the borrower include avoiding a foreclosure which would be reported
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04/02/2013
Tax implications in a short sale The Economic Stabilization Act extends the Mortgage Forgiveness Debt Relief Act to 2012, but it was extended during the fiscal cliff negotiation until December 31, 2013. Up to $2 million forgiven debt of a taxpayer’s principal residence is exempt from taxation d
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04/02/2013
The Short sale is a foreclosure alternative which provides an outstanding opportunity for the lender, the borrower/seller, and a prospective purchaser to mitigate damages. Unfortunately, in today’s troubled real estate marketplace, the short sale process is one fraught with a substantial amount
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04/02/2013
