Tag Archives: troubled borrowers
Short Sales Are Working in Northern Virginia!
Listen up you troubled borrowers out there: short sales are working in Northern Virginia! The process is becoming more efficient. This is also good news for your buyers out there that have had to deal with the nightmare of submitting offers on short sales. Instead of waiting six months or more for an answer from [...]
Full Story> 50% Modified Loans back in Default
According to the federal Office of the Comptroller of the Currency and the Office of Thrift Supervision, more than 50% of the loans that were modified in the first half of 2008 have fallen behind on their payments.
Now this evidence can lead to two different scenarios. First, those who received a loan modification just took [...]
Foreclosures on Hiatus?
The government really hasn’t solved the problem of this real estate turmoil. They have put more of a hold on everything than anything. What I mean by this is the homeowner assistance programs and bailout money has just slowed down the pace of foreclosures. It hasn’t fixed anything. Do you know why? I’ll tell you [...]
Full StoryLoan Modifications Revisited by Treasury
Some good news for those of you that haven’t already decided to abandon your mortgage. On Tuesday, the Treasury Department met and put the pressure on 25 mortgage companies to step it up and work harder to modify more loans for those borrowers that are in trouble.
The meeting came about from the worry that the [...]
