Bank of America, Chase, Wells Fargo, Citigroup and Ally Financial (GMAC) have been (and still are) cheating taxpayers by wrongfully foreclosing and then claiming millions of dollars in reimbursements from HUD, FHA & other governmental bodies for losses on mortgage loans. Why won’t you let the dog sniff your locker? As the article below shows, [...]
Five Biggest Mortgage Firms Defrauding Taxpayers say Federal Auditors
May 18, 2011 By Leave a Comment
Short Sales on a fast track?
September 20, 2010 By 2 Comments
H.R. 6133, “Prompt Decision for Qualification of Short Sale Act of 2010″ has been offered in the House but will it go anywhere? Kudos to the National Association of Realtors for their support of a housing initiate that could help the mortgage/housing crisis, if it passes AND has some teeth. We don’t need another sissy [...]
FHA short sales…hurry up and wait
September 14, 2010 By 2 Comments
FYI..if your short sale is an FHA loan then tell everyone to sit tight unless the buyers are ready to counter up to the FULL amount of the bank’s counter or the Agreement To Participate letter. When your short sale offer is less than HUD wants then you must request a variance to be approved [...]
Government Offering Interest-Free Loans to Save Your Home…Sorry, Texas you’re not approved.
August 12, 2010 By Leave a Comment
The Obama Administration has announced their newest plan to slow the pace of foreclosures and help borrowers who can no longer afford their homes. The plan calls for $2 billion to be directed to the Administration’s list of the “hardest hit areas”; while HUD is going to chip in another $1 billion to “other areas”. [...]
FHA pumps up the commission for brokers
January 3, 2010 By Leave a Comment
The US Department of Housing and Urban Development (HUD) removed the 1% origination fee cap on loans insured by the Federal Housing Agency (FHA), according a mortgagee letter sent out this week. HUD made the change to remain consistent with the Real Estate Settlement Procedures Act (RESPA), which will require mortgage lenders to disclose to borrowers [...]
FHA loans are available to Short Sellers!
December 22, 2009 By 3 Comments
One of the fears that homeowner have is whether they will be able to secure a new loan to purchase a home in the future after short selling the current one. The answer is yes. In fact, the Department of Housing and Urban Development (HUD) released a letter to lenders regarding borrower eligibility for a [...]
