All articles about Mortgage modification

The Trouble With Trial Mortgage Loan Modifications

Image courtesy WSJ.com

These days there seems to be no shortage today of people or politicians angry at mortgage companies.  Most however tend to be  customers of the nations five largest mortgage servicers;

Bank of America, Wells Fargo Home Mortgage, JP Morgan Chase & Ally Financial.

The source of anger tends to be  focused on  foreclosure, short sale request or loan modifications aka work-outs that never seem to get worked out and result is foreclosure. Continue reading The Trouble With Trial Mortgage Loan Modifications

What is a Short Sale?

The term “SHORT SALE” has surged forth into the modern lexicon about as fast as Scotty MCreery has.  Hopefully one will remain longer than the other and I will let you decide which you prefer. As for me, I like the kid and not just because his high school is 1,000 yards from my home either.

Unlike Scotty however, most people although they have heard the term SHORT SALE they really don’t know what the term means so here is a very basic explanation that I tried out on Bella (my six year old daughter) and although it bored her to tears, even she understood it. Continue reading What is a Short Sale?