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Short Sale Vs Short Pay Off

Wednesday, April 22

Short Sale Vs Short Pay Off You often hear the term Short Sale and Short Pay. They both are programs that involve a servicer review and a that a lien holder is being shorted and taking a loss on the mortgage payoff. They are similar in that nature but the outcome is distinguished as one program...


Home Equity Conversion Mortgage Short Sale

Tuesday, March 15

What Is A Home Equity Conversion Mortgage Short Sale? A (HECM) Home Equity Conversion Mortgage Short Sale is otherwise known as a Reverse Mortgage short sale. HECM’s are a (HUD) Housing and Urban Development backed product that is given to senior homeowners who have equity in their property...


Novad Management Consulting

Sunday, October 26

Novad Management Consulting We received a message from Deval LLC today stating that as of October 1, 2014, Deval LLC will no longer be HUD’s loan servicing contractor. All signs are pointing to Novad Management Consulting being HUD’s new loan servicing contractor.What Does This Mean?When you...


What is Mortgage Insurance And It's Affect On Processing Short Sales?

Wednesday, October 03

What is Mortgage Insurance?                        Mortgage insurance is a financial guaranty for the lender that will help to reduce or eliminate a loss in case the borrower defaults on their mortgage. MI is almost universally required on loans where there is less than twenty percent equity. Tha...


WHY AGENTS CHOOSE TO NOT USE SHORT SALE NEGOTIATORS

Wednesday, September 26

Anyone who has participated in a short sale knows that it can be highly stressful and that it is not always a quick process. The fact is processing a short sale efficiently takes a lot of experience and is continuously changing.ARE THERE COMPANIES THAT CAN PROCESS MY SHORT SALE?There are individu...


BANK OF AMERICA: New Short Sale Process Service Release Policy

Wednesday, September 19

  Bank of America has and will continue to release pools of loans. No loan is safe from a service release even if it is an already approved short sale. This seems to be even more interesting because the lender the file is going to se...