DSNews.com - 2/3’s of Mortgages Untouched
According to a new report from state attorneys general and bank supervisors from across the country, more than 60% of homeowners with seriously delinquent loans are still not involved in any form of loss mitigation with their servicer. The ratio is disconcerting considering the group also found that one of servicers’ primary loss mitigation [...]
Diana Olick - Big Banks Move to Short Sales, but Will It Help Housing?
“Earlier this week a top executive at Bank of America told an REO conference in Dallas that the lender would be focusing more on short sales than ever before. At first hearing this, I assumed it was because of the government’s Home Affordable Foreclosure Alternative Program, which provides cash incentives to servicers and borrowers for [...]
Short Sales - Why Banks Accept Them
I am often asked by newbie investors why banks are so willing to accept short sales, taking far less on the property than they are owed. It’s difficult for most people to wrap their head around why a bank, or any lender for that matter, would accept 40%, 30%, or many times even less as full payoff for a [...]
