Short Sale + Mortgage Insurance = Problem

Mortgage insurance adds another and potentially difficult step to closing out a short sale. Why?  Quite simply it adds another approval needed in the short sale approval process. When negotiating with the bank for a short sale it may appear that the assigned negotiator is the person that you are dealing with but only on [...]

Mortgage Insurance, can it help me?

A frequent question we get is, “What about my mortgage insurance?” There exists a general perception that MIP (mortgage insurance premiums) paid either all up front (or monthly) somehow covers your loan like GAP insurance protects you on a car loan.  This is wrong. Mortgage insurance was created to: a) Make money for the mortgage [...]

Modification is Not for Every Borrower according to a Treasury Adviser

Two questions borrowers frequently ask us, “How did my neighbor get into HAMP (and/or get a loan modification) but I can’t? “Do I have to be delinquent to get a workout plan?” The best answers typically are: The secret Black Box recipe may not mix well with your situation (read more here on this) because [...]