In times of sporadic enthisiasm, the FHA lenders may offer streamline refinances and include the closing costs into the new mortgage amount. This type of FHA mortgage Broker in Floirda can only be done if there is sufficient equity in the property, as determined by an FHA appraisal. FHA streamline refinances can also be done in Florida without appraisals, but the new loan amount cannot exceed the original loan amount or FHA loan limits in Florida. Investment properties (properties in which the borrower does not reside in as his or her principal residence) may only be refinanced without an appraisal and this might surpris and FHA borrower.
FHA Streamlines in Florida
Tuesday, December 23, 2008
Monday, October 6, 2008
Refinances that are Short FHA Funds
There are occassionally fha short refinances that are available from time to time.
Thursday, September 25, 2008
FHA Shorted Refinance Periods
Not sure is this is the same as FHA short refi and I'm sure it really is different afterall. The importance of a refinance through FHA is yet to be determined unless you are refinancing with a shortened FHA mortgage loan with a reduce payoff. ANd in that scenario, you have an FHA short refi.
FHA SHORT REFINANCE
FHA SHORT REFINANCE
Sunday, September 21, 2008
Some Mortgage Websites & Domain Names
Here is a partial list of mortgage websites and domain names. The mortgage websites have a personal name and this is called a mortgage domain name. It has to do with loans, lending, and loaning people (or borrowers) money. Your mortgage domains are as follows:
WWW.KARENLOANS.COM
WWW.KARLSLOANS.COM
WWW.KATHRYNLOANS.COM
WWW.KEITHSLOANS.COM
WWW.KELLYLOANS.COM
WWW.KEVINLOANS.NET
WWW.KIMSLOANS.COM
WWW.KYLESLOANS.COM
WWW.LATANYALOANS.COM
WWW.LEEANNLOANS.COM
WWW.LEONLOANS.COM
WWW.LESLEYLOANS.COM
WWW.LESLIESLOANS.COM
WWW.LESS4LOANS.NET
WWW.LESTERLOANS.COM
WWW.LINDASLOANS.COM
WWW.KARLSLOANS.COM
WWW.KATHRYNLOANS.COM
WWW.KEITHSLOANS.COM
WWW.KELLYLOANS.COM
WWW.KEVINLOANS.NET
WWW.KIMSLOANS.COM
WWW.KYLESLOANS.COM
WWW.LATANYALOANS.COM
WWW.LEEANNLOANS.COM
WWW.LEONLOANS.COM
WWW.LESLEYLOANS.COM
WWW.LESLIESLOANS.COM
WWW.LESS4LOANS.NET
WWW.LESTERLOANS.COM
WWW.LINDASLOANS.COM
These mortgage websites are different from the domain names that are mortgage websites on other areas for lending and loans.
Saturday, August 30, 2008
Foreclosure or short sale preapprovals
Even Hollywood's rich and famous can't avoid the short sales and preappovals that's sweeping the nation. In Florida, only 4,430 homes were sold by short sale and through the preapproval of short sales in Floirda. In December, down 48% from the short sale prices in Florida from the previous year. And short sale preapprovals fell 11% to an average $170,000.
Of course, celebrity short sale preapprovals cost much more than that. An normal preapproved short sale in Florida for an up-and-coming short sale expert is at least $1.4 million in Florida real estate, say someone in short sale land. Realtor Floirda short sale preapproval guy of Florida Foreclosures says it's the owners trying to sell short sales without a preapproval letter that are having the most trouble. This is also common with financing Sarasota Florida foreclosures. Many times a loan modification can avoid foreclosure.
Young rocker Florida short sale preapproval has had to reduce the short sale price on her five-bedroom, six-bath house in Florida from $2 million to $1.8 million. The property is currently in preapproval statues with teh florida short sale. The Florida short sale expert is now encouraged to study more on short sales in Florida and it is a home is in a gated community just off Florida panhandle and includes a tennis court and pool. Since Florida foreclosure realtor put the house on the market in February 2008, two offers have fallen through. In the public listing, her agent calls the house "One of the best short sale values on the market today and it is a Florida preapproved short sale to boot."
When it comes to Florida real estate, short sale preapprovals are generally treated much differently than other Florida foreclosures.
Of course, celebrity short sale preapprovals cost much more than that. An normal preapproved short sale in Florida for an up-and-coming short sale expert is at least $1.4 million in Florida real estate, say someone in short sale land. Realtor Floirda short sale preapproval guy of Florida Foreclosures says it's the owners trying to sell short sales without a preapproval letter that are having the most trouble. This is also common with financing Sarasota Florida foreclosures. Many times a loan modification can avoid foreclosure.
Young rocker Florida short sale preapproval has had to reduce the short sale price on her five-bedroom, six-bath house in Florida from $2 million to $1.8 million. The property is currently in preapproval statues with teh florida short sale. The Florida short sale expert is now encouraged to study more on short sales in Florida and it is a home is in a gated community just off Florida panhandle and includes a tennis court and pool. Since Florida foreclosure realtor put the house on the market in February 2008, two offers have fallen through. In the public listing, her agent calls the house "One of the best short sale values on the market today and it is a Florida preapproved short sale to boot."
When it comes to Florida real estate, short sale preapprovals are generally treated much differently than other Florida foreclosures.
Saturday, August 9, 2008
Texas Debt Collection Update
A Dallas collection agency accused of sending letters that violate various consumer protection regulations said that it found out the Texas Attorney General had filed a suit against it through third parties, according to a statement released late Thursday.Anderson, Crenshaw & Associates said that it has not been served with the lawsuit and could not specifically comment on any of the allegations. The Texas AG’s office announced Wednesday that it had filed a suit against the company alleging numerous violations of both state law and the Fair Debt Collection Practices Act (FDCPA) (“Texas Attorney General Goes After Debt Collection Agency,” Aug. 7).
The attorney general’s office said that its enforcement action seeks civil penalties of up to $20,000 for each violation of the Texas Deceptive Trade Practices Act and penalties of up to $250,000 each if the consumer was over 65 years of age.Crenshaw noted in its statement that the company had fully cooperated with the AG’s office. “Crenshaw has fully cooperated with the Attorney General regarding any questions or requests for information they had regarding Crenshaw’s business operations,” according to the statement.
The company also noted that a no time had the AG’s office indicated that it was unsatisfied with the company’s response.Crenshaw said that it “looks forward to working with the Attorney General to obtain a fair resolution of all issues.”
The attorney general’s office said that its enforcement action seeks civil penalties of up to $20,000 for each violation of the Texas Deceptive Trade Practices Act and penalties of up to $250,000 each if the consumer was over 65 years of age.Crenshaw noted in its statement that the company had fully cooperated with the AG’s office. “Crenshaw has fully cooperated with the Attorney General regarding any questions or requests for information they had regarding Crenshaw’s business operations,” according to the statement.
The company also noted that a no time had the AG’s office indicated that it was unsatisfied with the company’s response.Crenshaw said that it “looks forward to working with the Attorney General to obtain a fair resolution of all issues.”
Sunday, August 3, 2008
Probelms with deficiency judgments in florida foreclosures
There are many problems with recourse and non-recourse mortgage loans. The bigger problem has to do with recourse loans when the lender is seeking a deficiency judgment in a florida foreclosure. Much is said about these deficiency judgments - whether you call it a deficiecny judgment, summary judgment, default judgement, or even if you mispell it as a deficiecny judgement - the consensus is that deficiecnyc judgments in florida are bad news.
Look at these artcles discussing florida deficiency judgments and post a comment to let me know that we are looking at the florida foreclosures the same was as the courts may or may not interepret these judgments. I will check back to see the comments that you have made and then we can discuss the deficiency judgments in more detail after examining the collectibility of a judgment in a foreclosure action in florida specifically.
Try not to obtain an FHA mortgage in Florida when you have a judgment to be concerned about. The liklihood of obtaining a mortgage loan with a deficiecny are slim to none and -you guessed it - Slim just left town. Thanks for reading and please post a comment to let me know your thoughts about deficiency judgments.
Look at these artcles discussing florida deficiency judgments and post a comment to let me know that we are looking at the florida foreclosures the same was as the courts may or may not interepret these judgments. I will check back to see the comments that you have made and then we can discuss the deficiency judgments in more detail after examining the collectibility of a judgment in a foreclosure action in florida specifically.
Try not to obtain an FHA mortgage in Florida when you have a judgment to be concerned about. The liklihood of obtaining a mortgage loan with a deficiecny are slim to none and -you guessed it - Slim just left town. Thanks for reading and please post a comment to let me know your thoughts about deficiency judgments.
Saturday, July 19, 2008
Short Sale Exit With FNMA Flip
There was a real estate investor or maybe it was a realtor in Florida talking about FNMA Flip and the policy that FNMA had with Flips in Florida. The FNMA MyCommunity Mortgage loan was the subject of the short sale. The short sale was purchased with a FNMA loan. The FNMA oan was flipped in a FNMA flip transaction.
There have been FNMA flips for a long time in Florida. This is nothing new. What is new is that now we know the FNMA flipping rules for short sale investing. This is how FNMA short sale underwriters views this type of transaction and I just thought it was helpful.
Examining FNMA Flips with short salleing of real estate. That is the Federal National Mortgage Association for those of you who don't know.
There have been FNMA flips for a long time in Florida. This is nothing new. What is new is that now we know the FNMA flipping rules for short sale investing. This is how FNMA short sale underwriters views this type of transaction and I just thought it was helpful.
Examining FNMA Flips with short salleing of real estate. That is the Federal National Mortgage Association for those of you who don't know.
Tuesday, July 15, 2008
Matrix FHA MIP FICO
This is the matrix for MIP, FICO, and FHA. If you haven't checked out the FHA MIP FICO MATRIX then get to it. Your fha loans are costing more money these days and the MIP for FHA will be based on a perceived risk to the FHA pool of government sponsored loans.
FHA MIP FICO CHART
FHA MIP FICO CHART
Saturday, July 12, 2008
Define Option Contract & Florida Real Estate
Let’s take a look at the word Option. The definition of “Option” is provided by Investorwords.com:
“The right, but not the obligation, to buy (for a call option) or sell (for a put option) a specific amount of a given stock, commodity, currency, index, or debt, at a specified price (the strike price) during a specified period of time. For stock options, the amount is usually 100 shares. Each option has a buyer, called the holder, and a seller, known as the writer. If the option contract is exercised, the writer is responsible for fulfilling the terms of the contract by delivering the shares to the appropriate party. In the case of a security that cannot be delivered such as an index, the contract is settled in cash. For the holder, the potential loss is limited to the price paid to acquire the option. When an option is not exercised, it expires. No shares change hands and the money spent to purchase the option is lost. For the buyer, the upside is unlimited. Options, like stocks, are therefore said to have an asymmetrical payoff pattern. For the writer, the potential loss is unlimited unless the contract is covered, meaning that the writer already owns the security underlying the option. Options are most frequently as either leverage or protection. As leverage, options allow the holder to control equity in a limited capacity for a fraction of what the shares would cost. The difference can be invested elsewhere until the option is exercised. As protection, options can guard against price fluctuations in the near term because they provide the right acquire the underlying stock at a fixed price for a limited time. risk is limited to the option premium (except when writing options for a security that is not already owned). However, the costs of trading options (including both commissions and the bid/ask spread) is higher on a percentage basis than trading the underlying stock. In addition, options are very complex and require a great deal of observation and maintenance. also called option contract.”
Now let’s take a look at the word Contract. The definition of “contract” as provided by Investorwords.com is:
“A binding agreement between two or more parties for performing, or refraining from performing, some specified act(s) in exchange for lawful consideration.”
When we put them to gether, we have the option contract. You may use the option contract to purchase a short sale in the State of Florida. Much has been written about Florida real esate and the short sales that can be bought and sold with the option contract. To learn more, simply follow the option contract for Florida real estate and you will learn much more about Florida short sales.
Locate Florida short sales with option contracts and in other real estate markets.
“The right, but not the obligation, to buy (for a call option) or sell (for a put option) a specific amount of a given stock, commodity, currency, index, or debt, at a specified price (the strike price) during a specified period of time. For stock options, the amount is usually 100 shares. Each option has a buyer, called the holder, and a seller, known as the writer. If the option contract is exercised, the writer is responsible for fulfilling the terms of the contract by delivering the shares to the appropriate party. In the case of a security that cannot be delivered such as an index, the contract is settled in cash. For the holder, the potential loss is limited to the price paid to acquire the option. When an option is not exercised, it expires. No shares change hands and the money spent to purchase the option is lost. For the buyer, the upside is unlimited. Options, like stocks, are therefore said to have an asymmetrical payoff pattern. For the writer, the potential loss is unlimited unless the contract is covered, meaning that the writer already owns the security underlying the option. Options are most frequently as either leverage or protection. As leverage, options allow the holder to control equity in a limited capacity for a fraction of what the shares would cost. The difference can be invested elsewhere until the option is exercised. As protection, options can guard against price fluctuations in the near term because they provide the right acquire the underlying stock at a fixed price for a limited time. risk is limited to the option premium (except when writing options for a security that is not already owned). However, the costs of trading options (including both commissions and the bid/ask spread) is higher on a percentage basis than trading the underlying stock. In addition, options are very complex and require a great deal of observation and maintenance. also called option contract.”
Now let’s take a look at the word Contract. The definition of “contract” as provided by Investorwords.com is:
“A binding agreement between two or more parties for performing, or refraining from performing, some specified act(s) in exchange for lawful consideration.”
When we put them to gether, we have the option contract. You may use the option contract to purchase a short sale in the State of Florida. Much has been written about Florida real esate and the short sales that can be bought and sold with the option contract. To learn more, simply follow the option contract for Florida real estate and you will learn much more about Florida short sales.
Locate Florida short sales with option contracts and in other real estate markets.
Friday, July 4, 2008
Conclusion of Current, FHA, and APR
This is my final post of the hour regarding current fha apr. You may have been hearing much around the internet about the current fha apr and you have decided to check in with the FHA loan expert to see what’s what with regards to the current FHA APR. I will not keep you in suspense and longer. Here are the website to visit to check on current FHA APR:
Your story on FHA APR that is Current
My viewpoints on TILA, APR, Current and FHA
The CURRENT FHA APR site
Don’t listen to the dissension on current fha apr
You will apr fha current until I see fit- TILA examines current FHA APR
This is your last fha apr current post
As you can see there has been a great deal written today on the current fha apr situation and there will undoubtedly be much more on the fha apr situation in coming months. Stay tuned for the effects of the current fha apr dilemma and above all, make sure you don’t read too many boring posts like this one about current, fha, and APR.
Saturday, June 28, 2008
Finding Fun Short Sales in Bay County Florida
Take a look around bay county these days and wwhat do you see? SHORT SALES OF REAL ESTATE..in Bay County Florida, that's about it.
I was having a walk around the beach in Panama City and I saw the short sale on teh corner lot that was a foreclosure twice. It had a lis pendens in Bay County Florida and I said "Wait a second!" and then I said "Where is the short sale of real estate in Florida?".
As I was saying that, a real estate salesperson in bay county or panama city florida drove away with my short sale. The license plate said Bay County Real Estate and short sale investor. Or maybe that was the bumper sticker but you get the idea. The idea is that there are a lot of short sale properties in Bay County Florida.
Florida real estate in Bay County is available for sale. The bankupt home builders in panama City Florida have abandoned the homes and now they are all short sales of real estate.
Florida real estate for sale. REAL ESTATE IS FOR SALE!!! So BUY AND SELL HOMES please!
I was having a walk around the beach in Panama City and I saw the short sale on teh corner lot that was a foreclosure twice. It had a lis pendens in Bay County Florida and I said "Wait a second!" and then I said "Where is the short sale of real estate in Florida?".
As I was saying that, a real estate salesperson in bay county or panama city florida drove away with my short sale. The license plate said Bay County Real Estate and short sale investor. Or maybe that was the bumper sticker but you get the idea. The idea is that there are a lot of short sale properties in Bay County Florida.
Florida real estate in Bay County is available for sale. The bankupt home builders in panama City Florida have abandoned the homes and now they are all short sales of real estate.
Florida real estate for sale. REAL ESTATE IS FOR SALE!!! So BUY AND SELL HOMES please!
Sunday, June 22, 2008
More on Alachua Short Sales in FLorida
This is the final short sale of real estate in florida post. You may think it is all about Alachua county florida and if so, then click the Alachua county real estate short sale links. Here they are:
Short Sale Alachua
Alachua Short Sales
Florida Gainesville Short Sale
Short Sale Alachua Florida
Florida Real Estate Alachua
Alachua and the Short Sale Epidemic
My Short Sale is in Alachua Florida
These are a few of the important Alachua florida real estate information links. You may have more to add and if you do then please add a comment to this post and let’s all chip in to help Alachua county florida real estate and shorts sales. Goodbye and have a short sale with your lunch today.
SHORT SALE ALACHUA COUNTY FLORIDA
Short Sale Alachua
Alachua Short Sales
Florida Gainesville Short Sale
Short Sale Alachua Florida
Florida Real Estate Alachua
Alachua and the Short Sale Epidemic
My Short Sale is in Alachua Florida
These are a few of the important Alachua florida real estate information links. You may have more to add and if you do then please add a comment to this post and let’s all chip in to help Alachua county florida real estate and shorts sales. Goodbye and have a short sale with your lunch today.
SHORT SALE ALACHUA COUNTY FLORIDA
Tuesday, June 17, 2008
Understanding FHA Secrets and RISK BASED PRICING
They tried to keep me quite about fha risk based pricing and how the MIP adversely affects certain individuals. I won't accept anybodys hush money. I'll type the secrets of FHA MIP RISK BASED PRICING and the politicians and the industry people that are pocketing FHA MIP are not going to stop this post.
I first must tell you that the FHA risk based pricing and risk adjusted pricing for FHA and the MIP fund came about becuase of the FHA solvency issue. Now it is growing from the MIP fund and the level of risk for the FHA mortgage insurance premiums are unbearable.
FHA Level Pricing based on credit scores.
I first must tell you that the FHA risk based pricing and risk adjusted pricing for FHA and the MIP fund came about becuase of the FHA solvency issue. Now it is growing from the MIP fund and the level of risk for the FHA mortgage insurance premiums are unbearable.
FHA Level Pricing based on credit scores.
Tuesday, June 10, 2008
SHORT OPTION CONTRACTS
My final post on the option contract, so here are the links for you:
http://myfirstblog12.blogspot.com/2008/06/option-contract-short-sales-title.html
http://zkt145.blogspot.com/2008/06/dynamics-of-short-sales-option.html
http://short-sale-real-estate.blogspot.com/2008/06/explain-option-contract-short-sales.html
http://scientifichousing.blogspot.com/2008/06/finding-title-company-for-closing.html
http://larrylinkler.blogspot.com/2008/06/option-contracts-have-been-used-widely.html
http://moneypaystherent.blogspot.com/2008/06/title-policy-for-option-contract-and.html
http://housingboomgonebust.blogspot.com/2008/06/finally-i-can-list-title-companies-of.html
Before you decide about which option contract, title company, short sale, and real estate is appropriate for you, you must click the links above, touch yournose and say "I am an option contract of real estate to be used in a shorts ale" three time. Then click the links again repeating the short sale words above and take two asprin and call me in the morning. Goodnight!
http://myfirstblog12.blogspot.com/2008/06/option-contract-short-sales-title.html
http://zkt145.blogspot.com/2008/06/dynamics-of-short-sales-option.html
http://short-sale-real-estate.blogspot.com/2008/06/explain-option-contract-short-sales.html
http://scientifichousing.blogspot.com/2008/06/finding-title-company-for-closing.html
http://larrylinkler.blogspot.com/2008/06/option-contracts-have-been-used-widely.html
http://moneypaystherent.blogspot.com/2008/06/title-policy-for-option-contract-and.html
http://housingboomgonebust.blogspot.com/2008/06/finally-i-can-list-title-companies-of.html
Before you decide about which option contract, title company, short sale, and real estate is appropriate for you, you must click the links above, touch yournose and say "I am an option contract of real estate to be used in a shorts ale" three time. Then click the links again repeating the short sale words above and take two asprin and call me in the morning. Goodnight!
Sunday, June 8, 2008
Flagler County FLorida Discounts on Real Estate
There was a story about Flagler county and it made me think of Flagler county florida and the discounts available on real estate there. You can ride a motorcycle with Robbie Kneivel in Flagler County florida and he may ride the bike over the discounted real estate in Flagler county. Here is an example of Flagler county real estate that is selling at a discount.
Short Sales are available in Flagler county real estate if you talk to the real estate agent in Flagler county florida. You may learn that the title company for real estate settlement in Flagler county is running around with flagler short sales on her t-shirt. They sell these shorts in Flagler county for anyone buying real estate in Flagler county. One way to examine the benefit of locating real estate online in Flagler county real estate in florida is to use an fha mortgage loan for the down payment of funds on the Flagler real estate.
Flagler County Real Estate Discounts.
Short Sales are available in Flagler county real estate if you talk to the real estate agent in Flagler county florida. You may learn that the title company for real estate settlement in Flagler county is running around with flagler short sales on her t-shirt. They sell these shorts in Flagler county for anyone buying real estate in Flagler county. One way to examine the benefit of locating real estate online in Flagler county real estate in florida is to use an fha mortgage loan for the down payment of funds on the Flagler real estate.
Flagler County Real Estate Discounts.
Thursday, June 5, 2008
Let's Talk About Real Estate in Flagler County Florida
Let's get right to flagler county florida real estate. I know you want to hear a housing story about real estate in flagler county. This is why the real estaet in flagler county florida is so cheap.
The house and condo that you bought in flagler county florida may not be worth what it was yesterday. In comparison to teh cost of real estate of flagler county florida homes and condos, you can say that today's prices are cheap. Cheap real estate in flagler county is in the flagler county newspapers all day long. What does taht tell us about the flagler county short sale?
You have to assume that the flagler county real estate short sales are cheap too. And that my friends is the flagler county florida real estate update for today.
FLAGLER COUNTY FLORIDA CHEAP REAL ESTATE
The house and condo that you bought in flagler county florida may not be worth what it was yesterday. In comparison to teh cost of real estate of flagler county florida homes and condos, you can say that today's prices are cheap. Cheap real estate in flagler county is in the flagler county newspapers all day long. What does taht tell us about the flagler county short sale?
You have to assume that the flagler county real estate short sales are cheap too. And that my friends is the flagler county florida real estate update for today.
FLAGLER COUNTY FLORIDA CHEAP REAL ESTATE
Tuesday, June 3, 2008
Say FHA score below 580 one more time!!!
The underwriter finally approved my borrower with an fha loan under 580 credit score. It took some time and no the fha loan didn’t have a nice fancy 620 fico score attached to it. It took a while for the 620 credit score to go from fha and back to a 580 credit score fha. All in all it was an fha loan with a 580 credit score.
You may be wondering where the fha loan under 620 fico is available. I am not sure if your credit score is a 580 fico or a 620 or if you like FHA loans at all. You may be a real estate investor or you may be an fha appraiser. You could be anyone with a credit score below 580 and obtain an fha mortgage loan given certain circumstances for fha and that the fha guidelines and rules are followed for credit score below 620.
Take a look at the fha loans for borrowers to buy below 620 fico scores.
You may be wondering where the fha loan under 620 fico is available. I am not sure if your credit score is a 580 fico or a 620 or if you like FHA loans at all. You may be a real estate investor or you may be an fha appraiser. You could be anyone with a credit score below 580 and obtain an fha mortgage loan given certain circumstances for fha and that the fha guidelines and rules are followed for credit score below 620.
Take a look at the fha loans for borrowers to buy below 620 fico scores.
Monday, May 26, 2008
Lienholder Removal in Florida Song
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Florida short sale with liens, Florida short sale with liens, you're the girl for me.You don't know me but you make me so happy.I tried to call you before but I lost my nerve.I tried my imagination, but I was disturbed.
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I got it, I got it, I got it!I got your number on the wall!I got it, I got it, I got it!For a good time, for a good time call....
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Thursday, May 15, 2008
I saw my fha credit score and FREAKED!
I saw my low credit score and was confronted with an fha mortgage loan denial. The fha credit scorew was too low forapproval with one lender. I then began to look for another fha mortgage lender to fund my fha loan with a low fico score.
The journey took many days and was filled with peril and much fha manual underwriting. I was steadfast in my fha manual underwrite and went from fha mortgage loan processor to fha mortgage loan processor with my credit report and low fha credit score. Then it happened. I had almost given up on my fha loan with a low credit score.
I looked up and say an fha lender that was willing to fund my fha loan with a credit score below a 620. Then I kept going down the fha mortgage lender list and found another fha lender under 580. Finally I found an fha mortgage lender down to a 520 credit score and got my fha loan.
Mortgage on fha and credit scoring approvals in future articles.
The journey took many days and was filled with peril and much fha manual underwriting. I was steadfast in my fha manual underwrite and went from fha mortgage loan processor to fha mortgage loan processor with my credit report and low fha credit score. Then it happened. I had almost given up on my fha loan with a low credit score.
I looked up and say an fha lender that was willing to fund my fha loan with a credit score below a 620. Then I kept going down the fha mortgage lender list and found another fha lender under 580. Finally I found an fha mortgage lender down to a 520 credit score and got my fha loan.
Mortgage on fha and credit scoring approvals in future articles.
Saturday, April 26, 2008
Foreclosuer Consultant FLorida Bill
A bill to be entitled
2
An act relating to foreclosure fraud; creating s.
3
501.1377, F.S.; providing legislative findings and intent
4
with respect to the need to protect homeowners who enter
5
into agreements designed to save their homes from
6
foreclosure; providing definitions; prohibiting a
7
foreclosure-rescue consultant from engaging in certain
8
acts or failing to perform contracted services; requiring
9
that all agreements for foreclosure-related rescue
10
services and foreclosure-rescue transactions be in
11
writing; specifying information that must be in the
12
written agreement; requiring that certain statements in
13
the written agreement be in uppercase letters and of a
14
specified size; providing that the homeowner has a right
15
to cancel the agreement for a specified period and the
16
right may not be waived; providing that the homeowner has
17
a specified period during which to cure a default under
18
certain circumstances; requiring equity purchasers to
19
assume or discharge certain liens; requiring that an
20
equity purchaser verify the homeowner's ability to make
21
payments under a repurchase agreement; providing price
22
limitations for repurchase transactions; providing for a
23
rebuttable presumption of certain transactions being
24
unconscionable under certain circumstances; providing for
25
limited application of the presumption; providing an
26
exclusion; providing that a foreclosure-rescue transaction
27
involving a lease option or other repurchase agreement
28
creates a rebuttable presumption that the transaction is a
29
loan transaction and the conveyance from the homeowner to
30
the equity purchaser is a mortgage; providing limited
31
application of the presumption; providing an exclusion;
32
providing that a person who violates certain provisions
33
commits an unfair and deceptive trade practice as defined
34
in part II of ch. 501, F.S.; providing penalties;
35
repealing s. 501.2078, F.S., relating to violations
36
involving individual homeowners during the course of
37
residential foreclosure proceedings; providing an
38
effective date.
39
40
Be It Enacted by the Legislature of the State of Florida:
41
42
Section 1. Section 501.1377, Florida Statutes, is created
43
to read:
44
501.1377 Violations involving homeowners during the course
45
of residential foreclosure proceedings.--
46
(1) LEGISLATIVE FINDINGS AND INTENT.--The Legislature finds
47
that homeowners who are in default on their mortgages, in
48
foreclosure, or at risk of losing their homes due to nonpayment
49
of taxes may be vulnerable to fraud, deception, and unfair
50
dealings with foreclosure-rescue consultants or equity
51
purchasers. The intent of this section is to provide a homeowner
52
with information necessary to make an informed decision regarding
53
the sale or transfer of his or her home to an equity purchaser.
54
It is the further intent of this section to require that
55
foreclosure-related rescue services agreements be expressed in
56
writing in order to safeguard homeowners against deceit and
57
financial hardship; to ensure, foster, and encourage fair dealing
58
in the sale and purchase of homes in foreclosure or default; to
59
prohibit representations that tend to mislead; to prohibit or
60
restrict unfair contract terms; to provide a cooling-off period
61
for homeowners who enter into contracts for services related to
62
saving their homes from foreclosure or preserving their rights to
63
possession of their homes; to afford homeowners a reasonable and
64
meaningful opportunity to rescind sales to equity purchasers; and
65
to preserve and protect home equity for the homeowners of this
66
state.
67
(2) DEFINITIONS.--As used in this section, the term:
68
(a) "Equity purchaser" means any person who acquires a
69
legal, equitable, or beneficial ownership interest in any
70
residential real property as a result of a foreclosure-rescue
71
transaction. The term does not apply to a person who acquires the
72
legal, equitable, or beneficial interest in such property:
73
1. By a certificate of title from a foreclosure sale
74
conducted under chapter 45;
75
2. At a sale of property authorized by statute;
76
3. By order or judgment of any court;
77
4. From a spouse, parent, grandparent, child, grandchild,
78
or sibling of the person or the person's spouse; or
79
5. As a deed in lieu of foreclosure, a workout agreement, a
80
bankruptcy plan, or any other agreement between a foreclosing
81
lender and a homeowner.
82
(b) "Foreclosure-rescue consultant" means a person who
83
directly or indirectly makes a solicitation, representation, or
84
offer to a homeowner to provide or perform, in return for payment
85
of money or other valuable consideration, foreclosure-related
86
rescue services. The term does not apply to:
87
1. A person excluded under s. 501.212.
88
2. A person acting under the express authority or written
89
approval of the United States Department of Housing and Urban
90
Development or other department or agency of the United States or
91
this state to provide foreclosure-related rescue services.
92
3. A charitable, not-for-profit agency or organization, as
93
determined by the United States Internal Revenue Service under s.
94
501(c)(3) of the Internal Revenue Code, which offers counseling
95
or advice to an owner of residential real property in foreclosure
96
or loan default if the agency or organization does not contract
97
for foreclosure-related rescue services with a for-profit lender
98
or person facilitating or engaging in foreclosure-rescue
99
transactions.
100
4. A person who holds or is owed an obligation secured by a
101
lien on any residential real property in foreclosure if the
102
person performs foreclosure-related rescue services in connection
103
with this obligation or lien and the obligation or lien was not
104
the result of or part of a proposed foreclosure reconveyance or
105
foreclosure-rescue transaction.
106
5. A financial institution as defined in s. 655.005 and any
107
parent or subsidiary of the financial institution or of the
108
parent or subsidiary.
109
6. A licensed mortgage broker, mortgage lender, or
110
correspondent mortgage lender that provides mortgage counseling
111
or advice regarding residential real property in foreclosure,
112
which counseling or advice is within the scope of services set
113
forth in chapter 494 and is provided without payment of money or
114
other consideration other than a mortgage brokerage fee as
115
defined in s. 494.001.
116
(c) "Foreclosure-related rescue services" means any good or
117
service related to, or promising assistance in connection with:
118
1. Stopping, avoiding, or delaying foreclosure proceedings
119
concerning residential real property; or
120
2. Curing or otherwise addressing a default or failure to
121
timely pay with respect to a residential mortgage loan
122
obligation.
123
(d) "Foreclosure-rescue transaction" means a transaction:
124
1. By which residential real property in foreclosure is
125
conveyed to an equity purchaser and the homeowner maintains a
126
legal or equitable interest in the residential real property
127
conveyed, including, without limitation, a lease option interest,
128
an option to acquire the property, an interest as beneficiary or
129
trustee to a land trust, or other interest in the property
130
conveyed; and
131
2. That is designed or intended by the parties to stop,
132
avoid, or delay foreclosure proceedings against a homeowner's
133
residential real property.
134
(e) "Homeowner" means any record title owner of residential
135
real property that is the subject of foreclosure proceedings.
136
(f) "Residential real property" means real property
137
consisting of one-family to four-family dwelling units, one of
138
which is occupied by the owner as his or her principal place of
139
residence.
140
(g) "Residential real property in foreclosure" means
141
residential real property against which there is an outstanding
142
notice of the pendency of foreclosure proceedings recorded
143
pursuant to s. 48.23.
144
(3) PROHIBITED ACTS.--In the course of offering or
145
providing foreclosure-related rescue services, a foreclosure-
146
rescue consultant may not:
147
(a) Engage in or initiate foreclosure-related rescue
148
services without first executing a written agreement with the
149
homeowner for foreclosure-related rescue services; or
150
(b) Solicit, charge, receive, or attempt to collect or
151
secure payment, directly or indirectly, for foreclosure-related
152
rescue services before completing or performing all services
153
contained in the agreement for foreclosure-related rescue
154
services.
155
(4) FORECLOSURE-RELATED RESCUE SERVICES; WRITTEN
156
AGREEMENT.--
157
(a) The written agreement for foreclosure-related rescue
158
services must be printed in at least 12-point uppercase type and
159
signed by both parties. The agreement must include the name and
160
address of the person providing foreclosure-related rescue
161
services, the exact nature and specific detail of each service to
162
be provided, the total amount and terms of charges to be paid by
163
the homeowner for the services, and the date of the agreement.
164
The date of the agreement may not be earlier than the date the
165
homeowner signed the agreement. The foreclosure-rescue consultant
166
must give the homeowner a copy of the agreement to review not
167
less than 1 business day before the homeowner is to sign the
168
agreement.
169
(b) The homeowner has the right to cancel the written
170
agreement without any penalty or obligation if the homeowner
171
cancels the agreement within 3 business days after signing the
172
written agreement. The right to cancel may not be waived by the
173
homeowner or limited in any manner by the foreclosure-rescue
174
consultant. If the homeowner cancels the agreement, any payments
175
that have been given to the foreclosure-rescue consultant must be
176
returned to the homeowner within 10 business days after receipt
177
of the notice of cancellation.
178
(c) An agreement for foreclosure-related rescue services
179
must contain, immediately above the signature line, a statement
180
in at least 12-point uppercase type that substantially complies
181
with the following:
182
183
HOMEOWNER'S RIGHT OF CANCELLATION
184
185
YOU MAY CANCEL THIS AGREEMENT FOR FORECLOSURE-RELATED RESCUE
186
SERVICES WITHOUT ANY PENALTY OR OBLIGATION WITHIN 3 BUSINESS DAYS
187
FOLLOWING THE DATE THIS AGREEMENT IS SIGNED BY YOU.
188
189
THE FORECLOSURE-RESCUE CONSULTANT IS PROHIBITED BY LAW FROM
190
ACCEPTING ANY MONEY, PROPERTY, OR OTHER FORM OF PAYMENT FROM YOU
191
UNTIL ALL PROMISED SERVICES ARE COMPLETE. IF FOR ANY REASON YOU
192
HAVE PAID THE CONSULTANT BEFORE CANCELLATION, YOUR PAYMENT MUST
193
BE RETURNED TO YOU NO LATER THAN 10 BUSINESS DAYS AFTER THE
194
CONSULTANT RECEIVES YOUR CANCELLATION NOTICE.
195
196
TO CANCEL THIS AGREEMENT, A SIGNED AND DATED COPY OF A
197
STATEMENT THAT YOU ARE CANCELLING THE AGREEMENT SHOULD BE MAILED
198
(POSTMARKED) OR DELIVERED TO ________________ (NAME) AT
199
_______________(ADDRESS) NO LATER THAN MIDNIGHT OF
200
___________(DATE).
201
202
IMPORTANT: IT IS RECOMMENDED THAT YOU CONTACT YOUR LENDER OR
203
MORTGAGE SERVICER BEFORE SIGNING THIS AGREEMENT. YOUR LENDER OR
204
MORTGAGE SERVICER MAY BE WILLING TO NEGOTIATE A PAYMENT PLAN OR A
205
RESTRUCTURING WITH YOU FREE OF CHARGE.
206
207
(d) The inclusion of the statement does not prohibit the
208
foreclosure-rescue consultant from giving the homeowner more time
209
in which to cancel the agreement than is set forth in the
210
statement, provided all other requirements of this subsection are
211
met.
212
(e) The foreclosure-rescue consultant must give the
213
homeowner a copy of the signed agreement within 3 hours after the
214
homeowner signs the agreement.
215
(5) FORECLOSURE-RESCUE TRANSACTIONS; WRITTEN AGREEMENT.--
216
(a)1. A foreclosure-rescue transaction must include a
217
written agreement prepared in at least 12-point uppercase type
218
that is completed, signed, and dated by the homeowner and the
219
equity purchaser before executing any instrument from the
220
homeowner to the equity purchaser quitclaiming, assigning,
221
transferring, conveying, or encumbering an interest in the
222
residential real property in foreclosure. The equity purchaser
223
must give the homeowner a copy of the completed agreement within
224
3 hours after the homeowner signs the agreement. The agreement
225
must contain the entire understanding of the parties and must
226
include:
227
a. The name, business address, and telephone number of the
228
equity purchaser.
229
b. The street address and full legal description of the
230
property.
231
c. Clear and conspicuous disclosure of any financial or
232
legal obligations of the homeowner that will be assumed by the
233
equity purchaser.
234
d. The total consideration to be paid by the equity
235
purchaser in connection with or incident to the acquisition of
236
the property by the equity purchaser.
237
e. The terms of payment or other consideration, including,
238
but not limited to, any services that the equity purchaser
239
represents will be performed for the homeowner before or after
240
the sale.
241
f. The date and time when possession of the property is to
242
be transferred to the equity purchaser.
243
2. A foreclosure-rescue transaction agreement must contain,
244
above the signature line, a statement in at least 12-point
245
uppercase type that substantially complies with the following:
246
247
I UNDERSTAND THAT UNDER THIS AGREEMENT I AM SELLING MY HOME
248
TO THE OTHER UNDERSIGNED PARTY.
249
250
3. A foreclosure-rescue transaction agreement must state
251
the specifications of any option or right to repurchase the
252
residential real property in foreclosure, including the specific
253
amounts of any escrow payments or deposit, down payment, purchase
254
price, closing costs, commissions, or other fees or costs.
255
4. A foreclosure-rescue transaction agreement must comply
256
with all applicable provisions of 15 U.S.C. ss. 1600 et seq. and
257
related regulations.
258
(b) The homeowner may cancel the foreclosure-rescue
259
transaction agreement without penalty if the homeowner notifies
260
the equity purchaser of such cancellation no later than 5 p.m. on
261
the 3rd business day after signing the written agreement. Any
262
moneys paid by the equity purchaser to the homeowner or by the
263
homeowner to the equity purchaser must be returned at
264
cancellation. The right to cancel does not limit or otherwise
265
affect the homeowner's right to cancel the transaction under any
266
other law. The right to cancel may not be waived by the homeowner
267
or limited in any way by the equity purchaser. The equity
268
purchaser must give the homeowner, at the time the written
269
agreement is signed, a notice of the homeowner's right to cancel
270
the foreclosure-rescue transaction as set forth in this
271
subsection. The notice, which must be set forth on a separate
272
cover sheet to the written agreement that contains no other
273
written or pictorial material, must be in at least 12-point
274
uppercase type, double-spaced, and read as follows:
275
276
NOTICE TO THE HOMEOWNER/SELLER
277
278
PLEASE READ THIS FORM COMPLETELY AND CAREFULLY. IT CONTAINS
279
VALUABLE INFORMATION REGARDING CANCELLATION RIGHTS.
280
281
BY THIS CONTRACT, YOU ARE AGREEING TO SELL YOUR HOME. YOU
282
MAY CANCEL THIS TRANSACTION AT ANY TIME BEFORE 5:00 P.M. OF THE
283
THIRD BUSINESS DAY FOLLOWING RECEIPT OF THIS NOTICE.
284
285
THIS CANCELLATION RIGHT MAY NOT BE WAIVED IN ANY MANNER BY
286
YOU OR BY THE PURCHASER.
287
288
ANY MONEY PAID DIRECTLY TO YOU BY THE PURCHASER MUST BE
289
RETURNED TO THE PURCHASER AT CANCELLATION. ANY MONEY PAID BY YOU
290
TO THE PURCHASER MUST BE RETURNED TO YOU AT CANCELLATION.
291
292
TO CANCEL, SIGN THIS FORM AND RETURN IT TO THE PURCHASER BY
293
5:00 P.M. ON ___________(DATE) AT ________________________
294
(ADDRESS) . IT IS BEST TO MAIL IT BY CERTIFIED MAIL OR OVERNIGHT
295
DELIVERY, RETURN RECEIPT REQUESTED, AND TO KEEP A PHOTOCOPY OF
296
THE SIGNED FORM AND YOUR POST OFFICE RECEIPT.
297
298
I (we) hereby cancel this transaction.
299
Seller's Signature
300
Printed Name of Seller
301
Seller's Signature
302
Printed Name of Seller
303
Date
304
305
(c) In any foreclosure-rescue transaction in which the
306
homeowner is provided the right to repurchase the residential
307
real property, the homeowner has a 30-day right to cure any
308
default of the terms of the contract with the equity purchaser,
309
and this right to cure may be exercised on up to three separate
310
occasions. The homeowner's right to cure must be included in any
311
written agreement required by this subsection.
312
(d) In any foreclosure-rescue transaction, before or at the
313
time of conveyance, the equity purchaser must fully assume or
314
discharge any lien in foreclosure as well as any prior liens that
315
will not be extinguished by the foreclosure.
316
(e) If the homeowner has the right to repurchase the
317
residential real property, the equity purchaser must verify and
318
be able to demonstrate that the homeowner has or will have a
319
reasonable ability to make the required payments to exercise the
320
option to repurchase under the written agreement. For purposes of
321
this subsection, there is a rebuttable presumption that the
322
homeowner has a reasonable ability to make the payments required
323
to repurchase the property if the homeowner's monthly payments
324
for primary housing expenses and regular monthly principal and
325
interest payments on other personal debt do not exceed 60 percent
326
of the homeowner's monthly gross income.
327
(f) If the homeowner has the right to repurchase the
328
residential real property, the price the homeowner pays may not
329
be unconscionable, unfair, or commercially unreasonable. A
330
rebuttable presumption, solely between the equity purchaser and
331
the homeowner, arises that the foreclosure-rescue transaction was
332
unconscionable if the homeowner's repurchase price is greater
333
than 17 percent per annum more than the total amount paid by the
334
equity purchaser to acquire, improve, maintain, and hold the
335
property. Unless the repurchase agreement or a memorandum of the
336
repurchase agreement is recorded in accordance with s. 695.01,
337
the presumption arising under this subsection shall not apply
338
against creditors or subsequent purchasers for a valuable
339
consideration and without notice.
340
(6) REBUTTABLE PRESUMPTION.--Any foreclosure-rescue
341
transaction involving a lease option or other repurchase
342
agreement creates a rebuttable presumption, solely between the
343
equity purchaser and the homeowner, that the transaction is a
344
loan transaction and the conveyance from the homeowner to the
345
equity purchaser is a mortgage under s. 697.01. Unless the lease
346
option or other repurchase agreement, or a memorandum of the
347
lease option or other repurchase agreement, is recorded in
348
accordance with s. 695.01, the presumption created under this
349
subsection shall not apply against creditors or subsequent
350
purchasers for a valuable consideration and without notice.
351
(7) VIOLATIONS.--A person who violates any provision of
352
this section commits an unfair and deceptive trade practice as
353
defined in part II of this chapter. Violators are subject to the
354
penalties and remedies provided in part II of this chapter,
355
including a monetary penalty not to exceed $15,000 per violation.
The FLorida foreclosure consultant house bill.
2
An act relating to foreclosure fraud; creating s.
3
501.1377, F.S.; providing legislative findings and intent
4
with respect to the need to protect homeowners who enter
5
into agreements designed to save their homes from
6
foreclosure; providing definitions; prohibiting a
7
foreclosure-rescue consultant from engaging in certain
8
acts or failing to perform contracted services; requiring
9
that all agreements for foreclosure-related rescue
10
services and foreclosure-rescue transactions be in
11
writing; specifying information that must be in the
12
written agreement; requiring that certain statements in
13
the written agreement be in uppercase letters and of a
14
specified size; providing that the homeowner has a right
15
to cancel the agreement for a specified period and the
16
right may not be waived; providing that the homeowner has
17
a specified period during which to cure a default under
18
certain circumstances; requiring equity purchasers to
19
assume or discharge certain liens; requiring that an
20
equity purchaser verify the homeowner's ability to make
21
payments under a repurchase agreement; providing price
22
limitations for repurchase transactions; providing for a
23
rebuttable presumption of certain transactions being
24
unconscionable under certain circumstances; providing for
25
limited application of the presumption; providing an
26
exclusion; providing that a foreclosure-rescue transaction
27
involving a lease option or other repurchase agreement
28
creates a rebuttable presumption that the transaction is a
29
loan transaction and the conveyance from the homeowner to
30
the equity purchaser is a mortgage; providing limited
31
application of the presumption; providing an exclusion;
32
providing that a person who violates certain provisions
33
commits an unfair and deceptive trade practice as defined
34
in part II of ch. 501, F.S.; providing penalties;
35
repealing s. 501.2078, F.S., relating to violations
36
involving individual homeowners during the course of
37
residential foreclosure proceedings; providing an
38
effective date.
39
40
Be It Enacted by the Legislature of the State of Florida:
41
42
Section 1. Section 501.1377, Florida Statutes, is created
43
to read:
44
501.1377 Violations involving homeowners during the course
45
of residential foreclosure proceedings.--
46
(1) LEGISLATIVE FINDINGS AND INTENT.--The Legislature finds
47
that homeowners who are in default on their mortgages, in
48
foreclosure, or at risk of losing their homes due to nonpayment
49
of taxes may be vulnerable to fraud, deception, and unfair
50
dealings with foreclosure-rescue consultants or equity
51
purchasers. The intent of this section is to provide a homeowner
52
with information necessary to make an informed decision regarding
53
the sale or transfer of his or her home to an equity purchaser.
54
It is the further intent of this section to require that
55
foreclosure-related rescue services agreements be expressed in
56
writing in order to safeguard homeowners against deceit and
57
financial hardship; to ensure, foster, and encourage fair dealing
58
in the sale and purchase of homes in foreclosure or default; to
59
prohibit representations that tend to mislead; to prohibit or
60
restrict unfair contract terms; to provide a cooling-off period
61
for homeowners who enter into contracts for services related to
62
saving their homes from foreclosure or preserving their rights to
63
possession of their homes; to afford homeowners a reasonable and
64
meaningful opportunity to rescind sales to equity purchasers; and
65
to preserve and protect home equity for the homeowners of this
66
state.
67
(2) DEFINITIONS.--As used in this section, the term:
68
(a) "Equity purchaser" means any person who acquires a
69
legal, equitable, or beneficial ownership interest in any
70
residential real property as a result of a foreclosure-rescue
71
transaction. The term does not apply to a person who acquires the
72
legal, equitable, or beneficial interest in such property:
73
1. By a certificate of title from a foreclosure sale
74
conducted under chapter 45;
75
2. At a sale of property authorized by statute;
76
3. By order or judgment of any court;
77
4. From a spouse, parent, grandparent, child, grandchild,
78
or sibling of the person or the person's spouse; or
79
5. As a deed in lieu of foreclosure, a workout agreement, a
80
bankruptcy plan, or any other agreement between a foreclosing
81
lender and a homeowner.
82
(b) "Foreclosure-rescue consultant" means a person who
83
directly or indirectly makes a solicitation, representation, or
84
offer to a homeowner to provide or perform, in return for payment
85
of money or other valuable consideration, foreclosure-related
86
rescue services. The term does not apply to:
87
1. A person excluded under s. 501.212.
88
2. A person acting under the express authority or written
89
approval of the United States Department of Housing and Urban
90
Development or other department or agency of the United States or
91
this state to provide foreclosure-related rescue services.
92
3. A charitable, not-for-profit agency or organization, as
93
determined by the United States Internal Revenue Service under s.
94
501(c)(3) of the Internal Revenue Code, which offers counseling
95
or advice to an owner of residential real property in foreclosure
96
or loan default if the agency or organization does not contract
97
for foreclosure-related rescue services with a for-profit lender
98
or person facilitating or engaging in foreclosure-rescue
99
transactions.
100
4. A person who holds or is owed an obligation secured by a
101
lien on any residential real property in foreclosure if the
102
person performs foreclosure-related rescue services in connection
103
with this obligation or lien and the obligation or lien was not
104
the result of or part of a proposed foreclosure reconveyance or
105
foreclosure-rescue transaction.
106
5. A financial institution as defined in s. 655.005 and any
107
parent or subsidiary of the financial institution or of the
108
parent or subsidiary.
109
6. A licensed mortgage broker, mortgage lender, or
110
correspondent mortgage lender that provides mortgage counseling
111
or advice regarding residential real property in foreclosure,
112
which counseling or advice is within the scope of services set
113
forth in chapter 494 and is provided without payment of money or
114
other consideration other than a mortgage brokerage fee as
115
defined in s. 494.001.
116
(c) "Foreclosure-related rescue services" means any good or
117
service related to, or promising assistance in connection with:
118
1. Stopping, avoiding, or delaying foreclosure proceedings
119
concerning residential real property; or
120
2. Curing or otherwise addressing a default or failure to
121
timely pay with respect to a residential mortgage loan
122
obligation.
123
(d) "Foreclosure-rescue transaction" means a transaction:
124
1. By which residential real property in foreclosure is
125
conveyed to an equity purchaser and the homeowner maintains a
126
legal or equitable interest in the residential real property
127
conveyed, including, without limitation, a lease option interest,
128
an option to acquire the property, an interest as beneficiary or
129
trustee to a land trust, or other interest in the property
130
conveyed; and
131
2. That is designed or intended by the parties to stop,
132
avoid, or delay foreclosure proceedings against a homeowner's
133
residential real property.
134
(e) "Homeowner" means any record title owner of residential
135
real property that is the subject of foreclosure proceedings.
136
(f) "Residential real property" means real property
137
consisting of one-family to four-family dwelling units, one of
138
which is occupied by the owner as his or her principal place of
139
residence.
140
(g) "Residential real property in foreclosure" means
141
residential real property against which there is an outstanding
142
notice of the pendency of foreclosure proceedings recorded
143
pursuant to s. 48.23.
144
(3) PROHIBITED ACTS.--In the course of offering or
145
providing foreclosure-related rescue services, a foreclosure-
146
rescue consultant may not:
147
(a) Engage in or initiate foreclosure-related rescue
148
services without first executing a written agreement with the
149
homeowner for foreclosure-related rescue services; or
150
(b) Solicit, charge, receive, or attempt to collect or
151
secure payment, directly or indirectly, for foreclosure-related
152
rescue services before completing or performing all services
153
contained in the agreement for foreclosure-related rescue
154
services.
155
(4) FORECLOSURE-RELATED RESCUE SERVICES; WRITTEN
156
AGREEMENT.--
157
(a) The written agreement for foreclosure-related rescue
158
services must be printed in at least 12-point uppercase type and
159
signed by both parties. The agreement must include the name and
160
address of the person providing foreclosure-related rescue
161
services, the exact nature and specific detail of each service to
162
be provided, the total amount and terms of charges to be paid by
163
the homeowner for the services, and the date of the agreement.
164
The date of the agreement may not be earlier than the date the
165
homeowner signed the agreement. The foreclosure-rescue consultant
166
must give the homeowner a copy of the agreement to review not
167
less than 1 business day before the homeowner is to sign the
168
agreement.
169
(b) The homeowner has the right to cancel the written
170
agreement without any penalty or obligation if the homeowner
171
cancels the agreement within 3 business days after signing the
172
written agreement. The right to cancel may not be waived by the
173
homeowner or limited in any manner by the foreclosure-rescue
174
consultant. If the homeowner cancels the agreement, any payments
175
that have been given to the foreclosure-rescue consultant must be
176
returned to the homeowner within 10 business days after receipt
177
of the notice of cancellation.
178
(c) An agreement for foreclosure-related rescue services
179
must contain, immediately above the signature line, a statement
180
in at least 12-point uppercase type that substantially complies
181
with the following:
182
183
HOMEOWNER'S RIGHT OF CANCELLATION
184
185
YOU MAY CANCEL THIS AGREEMENT FOR FORECLOSURE-RELATED RESCUE
186
SERVICES WITHOUT ANY PENALTY OR OBLIGATION WITHIN 3 BUSINESS DAYS
187
FOLLOWING THE DATE THIS AGREEMENT IS SIGNED BY YOU.
188
189
THE FORECLOSURE-RESCUE CONSULTANT IS PROHIBITED BY LAW FROM
190
ACCEPTING ANY MONEY, PROPERTY, OR OTHER FORM OF PAYMENT FROM YOU
191
UNTIL ALL PROMISED SERVICES ARE COMPLETE. IF FOR ANY REASON YOU
192
HAVE PAID THE CONSULTANT BEFORE CANCELLATION, YOUR PAYMENT MUST
193
BE RETURNED TO YOU NO LATER THAN 10 BUSINESS DAYS AFTER THE
194
CONSULTANT RECEIVES YOUR CANCELLATION NOTICE.
195
196
TO CANCEL THIS AGREEMENT, A SIGNED AND DATED COPY OF A
197
STATEMENT THAT YOU ARE CANCELLING THE AGREEMENT SHOULD BE MAILED
198
(POSTMARKED) OR DELIVERED TO ________________ (NAME) AT
199
_______________(ADDRESS) NO LATER THAN MIDNIGHT OF
200
___________(DATE).
201
202
IMPORTANT: IT IS RECOMMENDED THAT YOU CONTACT YOUR LENDER OR
203
MORTGAGE SERVICER BEFORE SIGNING THIS AGREEMENT. YOUR LENDER OR
204
MORTGAGE SERVICER MAY BE WILLING TO NEGOTIATE A PAYMENT PLAN OR A
205
RESTRUCTURING WITH YOU FREE OF CHARGE.
206
207
(d) The inclusion of the statement does not prohibit the
208
foreclosure-rescue consultant from giving the homeowner more time
209
in which to cancel the agreement than is set forth in the
210
statement, provided all other requirements of this subsection are
211
met.
212
(e) The foreclosure-rescue consultant must give the
213
homeowner a copy of the signed agreement within 3 hours after the
214
homeowner signs the agreement.
215
(5) FORECLOSURE-RESCUE TRANSACTIONS; WRITTEN AGREEMENT.--
216
(a)1. A foreclosure-rescue transaction must include a
217
written agreement prepared in at least 12-point uppercase type
218
that is completed, signed, and dated by the homeowner and the
219
equity purchaser before executing any instrument from the
220
homeowner to the equity purchaser quitclaiming, assigning,
221
transferring, conveying, or encumbering an interest in the
222
residential real property in foreclosure. The equity purchaser
223
must give the homeowner a copy of the completed agreement within
224
3 hours after the homeowner signs the agreement. The agreement
225
must contain the entire understanding of the parties and must
226
include:
227
a. The name, business address, and telephone number of the
228
equity purchaser.
229
b. The street address and full legal description of the
230
property.
231
c. Clear and conspicuous disclosure of any financial or
232
legal obligations of the homeowner that will be assumed by the
233
equity purchaser.
234
d. The total consideration to be paid by the equity
235
purchaser in connection with or incident to the acquisition of
236
the property by the equity purchaser.
237
e. The terms of payment or other consideration, including,
238
but not limited to, any services that the equity purchaser
239
represents will be performed for the homeowner before or after
240
the sale.
241
f. The date and time when possession of the property is to
242
be transferred to the equity purchaser.
243
2. A foreclosure-rescue transaction agreement must contain,
244
above the signature line, a statement in at least 12-point
245
uppercase type that substantially complies with the following:
246
247
I UNDERSTAND THAT UNDER THIS AGREEMENT I AM SELLING MY HOME
248
TO THE OTHER UNDERSIGNED PARTY.
249
250
3. A foreclosure-rescue transaction agreement must state
251
the specifications of any option or right to repurchase the
252
residential real property in foreclosure, including the specific
253
amounts of any escrow payments or deposit, down payment, purchase
254
price, closing costs, commissions, or other fees or costs.
255
4. A foreclosure-rescue transaction agreement must comply
256
with all applicable provisions of 15 U.S.C. ss. 1600 et seq. and
257
related regulations.
258
(b) The homeowner may cancel the foreclosure-rescue
259
transaction agreement without penalty if the homeowner notifies
260
the equity purchaser of such cancellation no later than 5 p.m. on
261
the 3rd business day after signing the written agreement. Any
262
moneys paid by the equity purchaser to the homeowner or by the
263
homeowner to the equity purchaser must be returned at
264
cancellation. The right to cancel does not limit or otherwise
265
affect the homeowner's right to cancel the transaction under any
266
other law. The right to cancel may not be waived by the homeowner
267
or limited in any way by the equity purchaser. The equity
268
purchaser must give the homeowner, at the time the written
269
agreement is signed, a notice of the homeowner's right to cancel
270
the foreclosure-rescue transaction as set forth in this
271
subsection. The notice, which must be set forth on a separate
272
cover sheet to the written agreement that contains no other
273
written or pictorial material, must be in at least 12-point
274
uppercase type, double-spaced, and read as follows:
275
276
NOTICE TO THE HOMEOWNER/SELLER
277
278
PLEASE READ THIS FORM COMPLETELY AND CAREFULLY. IT CONTAINS
279
VALUABLE INFORMATION REGARDING CANCELLATION RIGHTS.
280
281
BY THIS CONTRACT, YOU ARE AGREEING TO SELL YOUR HOME. YOU
282
MAY CANCEL THIS TRANSACTION AT ANY TIME BEFORE 5:00 P.M. OF THE
283
THIRD BUSINESS DAY FOLLOWING RECEIPT OF THIS NOTICE.
284
285
THIS CANCELLATION RIGHT MAY NOT BE WAIVED IN ANY MANNER BY
286
YOU OR BY THE PURCHASER.
287
288
ANY MONEY PAID DIRECTLY TO YOU BY THE PURCHASER MUST BE
289
RETURNED TO THE PURCHASER AT CANCELLATION. ANY MONEY PAID BY YOU
290
TO THE PURCHASER MUST BE RETURNED TO YOU AT CANCELLATION.
291
292
TO CANCEL, SIGN THIS FORM AND RETURN IT TO THE PURCHASER BY
293
5:00 P.M. ON ___________(DATE) AT ________________________
294
(ADDRESS) . IT IS BEST TO MAIL IT BY CERTIFIED MAIL OR OVERNIGHT
295
DELIVERY, RETURN RECEIPT REQUESTED, AND TO KEEP A PHOTOCOPY OF
296
THE SIGNED FORM AND YOUR POST OFFICE RECEIPT.
297
298
I (we) hereby cancel this transaction.
299
Seller's Signature
300
Printed Name of Seller
301
Seller's Signature
302
Printed Name of Seller
303
Date
304
305
(c) In any foreclosure-rescue transaction in which the
306
homeowner is provided the right to repurchase the residential
307
real property, the homeowner has a 30-day right to cure any
308
default of the terms of the contract with the equity purchaser,
309
and this right to cure may be exercised on up to three separate
310
occasions. The homeowner's right to cure must be included in any
311
written agreement required by this subsection.
312
(d) In any foreclosure-rescue transaction, before or at the
313
time of conveyance, the equity purchaser must fully assume or
314
discharge any lien in foreclosure as well as any prior liens that
315
will not be extinguished by the foreclosure.
316
(e) If the homeowner has the right to repurchase the
317
residential real property, the equity purchaser must verify and
318
be able to demonstrate that the homeowner has or will have a
319
reasonable ability to make the required payments to exercise the
320
option to repurchase under the written agreement. For purposes of
321
this subsection, there is a rebuttable presumption that the
322
homeowner has a reasonable ability to make the payments required
323
to repurchase the property if the homeowner's monthly payments
324
for primary housing expenses and regular monthly principal and
325
interest payments on other personal debt do not exceed 60 percent
326
of the homeowner's monthly gross income.
327
(f) If the homeowner has the right to repurchase the
328
residential real property, the price the homeowner pays may not
329
be unconscionable, unfair, or commercially unreasonable. A
330
rebuttable presumption, solely between the equity purchaser and
331
the homeowner, arises that the foreclosure-rescue transaction was
332
unconscionable if the homeowner's repurchase price is greater
333
than 17 percent per annum more than the total amount paid by the
334
equity purchaser to acquire, improve, maintain, and hold the
335
property. Unless the repurchase agreement or a memorandum of the
336
repurchase agreement is recorded in accordance with s. 695.01,
337
the presumption arising under this subsection shall not apply
338
against creditors or subsequent purchasers for a valuable
339
consideration and without notice.
340
(6) REBUTTABLE PRESUMPTION.--Any foreclosure-rescue
341
transaction involving a lease option or other repurchase
342
agreement creates a rebuttable presumption, solely between the
343
equity purchaser and the homeowner, that the transaction is a
344
loan transaction and the conveyance from the homeowner to the
345
equity purchaser is a mortgage under s. 697.01. Unless the lease
346
option or other repurchase agreement, or a memorandum of the
347
lease option or other repurchase agreement, is recorded in
348
accordance with s. 695.01, the presumption created under this
349
subsection shall not apply against creditors or subsequent
350
purchasers for a valuable consideration and without notice.
351
(7) VIOLATIONS.--A person who violates any provision of
352
this section commits an unfair and deceptive trade practice as
353
defined in part II of this chapter. Violators are subject to the
354
penalties and remedies provided in part II of this chapter,
355
including a monetary penalty not to exceed $15,000 per violation.
The FLorida foreclosure consultant house bill.
Sunday, April 20, 2008
Interesting that the fha partial claim is available to fha bad credit situations
Here is an answer to the fha partial claim question that was asked on HUD's website for the partial claim questions/answers.
Answer: Yes, when using a Preforeclosure Sale after a Partial Claim was provided on an earlier default, you must include the amount of the Partial Claim when calculating total indebtedness for the purpose of a Preforeclosure Sale. In order to be in compliance, mortgagees must include the unpaid principal balance, accrued interest, and the partial claim amount to correctly calculate the total outstanding mortgage indebtedness. HUD must net a minimum 82% of the sales proceeds from the Preforeclosure Sale. Refer to Mortgagee Letter 2003-19, dated November 20, 2003.
There are many loan modifications for fha loans that are taking place. This is not to be confused with teh fha secure initiative and fha program that is available to refinance an fha loan. Take a look at all of your foreclosure avoidance options and then lower your interest rate and payments if possible to avoid foreclosure. Sometimes in florida the short sale is the better options and sometimes the fha mortgage refinance is better. Learn all of the forbearnace and foreclosure options first and then choose the best foreclosure avoidance strategy for your situation. SOmetimes this results in a 1099 for cancellation of debt and sometimes the mortgage forgivenes act is applicable. Talk to your accountant too. The FHA secure details are following in a supplementary blog post.
FHA FULL CLAIM & FHA PARTIAL CLAIMS
Answer: Yes, when using a Preforeclosure Sale after a Partial Claim was provided on an earlier default, you must include the amount of the Partial Claim when calculating total indebtedness for the purpose of a Preforeclosure Sale. In order to be in compliance, mortgagees must include the unpaid principal balance, accrued interest, and the partial claim amount to correctly calculate the total outstanding mortgage indebtedness. HUD must net a minimum 82% of the sales proceeds from the Preforeclosure Sale. Refer to Mortgagee Letter 2003-19, dated November 20, 2003.
There are many loan modifications for fha loans that are taking place. This is not to be confused with teh fha secure initiative and fha program that is available to refinance an fha loan. Take a look at all of your foreclosure avoidance options and then lower your interest rate and payments if possible to avoid foreclosure. Sometimes in florida the short sale is the better options and sometimes the fha mortgage refinance is better. Learn all of the forbearnace and foreclosure options first and then choose the best foreclosure avoidance strategy for your situation. SOmetimes this results in a 1099 for cancellation of debt and sometimes the mortgage forgivenes act is applicable. Talk to your accountant too. The FHA secure details are following in a supplementary blog post.
FHA FULL CLAIM & FHA PARTIAL CLAIMS
Thursday, April 17, 2008
CHeck Out How Easy FHA Secure is These Days!
FHA Secure has eased the guildines to save peopel from foreclosure! You can now save your home from foreclosure with the FHA Secure refaince. Yes it is secure and it is fhasecure and it can secure a low mortgage payment for you.
The FHA secure guidelines are easier to qualfy for and you may trade in a crummy subprime arm for an fhasecure laon. This is definitely a case of fha helping homeowners to lower the rate to an new fhasecure mortgage loan.
FHA Secure mortgage lenders.
FHASECURE.
This is a secure fha loan and it is called FHA Secure.
The FHA secure guidelines are easier to qualfy for and you may trade in a crummy subprime arm for an fhasecure laon. This is definitely a case of fha helping homeowners to lower the rate to an new fhasecure mortgage loan.
FHA Secure mortgage lenders.
FHASECURE.
This is a secure fha loan and it is called FHA Secure.
Tuesday, April 15, 2008
Somebody Said Subordination Agreement for FHA!
Somebody was selling FHA subordination agreement at the baseball game. The FHA subordination agreement allowed a CLTV higher than 100%. I said this will never work. The FHA title company must prepare the FHA subordination agreement and the lender who is direct endorsement underwriter will never allow an fha subordination agreement purchased at a baseball game.
This went on for a few hours and the FHA lender talked to the fha umpire who said that the fha subordination agreement was sufficient for closing an fha loan as long as the loan was not insured by HUD. Well....I said....that doesn't make it much of an FHA loan afterall. You can keep your fha subordination agreeement in that case. I'll take my CLTV elsewhere.
"Get your FHA subordination agreement!", we heard as we left the baseball game.
Who was playing you ask?
Fremont Investment & Loan v. Alphonso Jackson.
This is indeed a strange post about the fha subordination agreement.
This went on for a few hours and the FHA lender talked to the fha umpire who said that the fha subordination agreement was sufficient for closing an fha loan as long as the loan was not insured by HUD. Well....I said....that doesn't make it much of an FHA loan afterall. You can keep your fha subordination agreeement in that case. I'll take my CLTV elsewhere.
"Get your FHA subordination agreement!", we heard as we left the baseball game.
Who was playing you ask?
Fremont Investment & Loan v. Alphonso Jackson.
This is indeed a strange post about the fha subordination agreement.
Monday, April 14, 2008
Secrets of Loan Officer Marketing Singing
Give me a loan officer marketing if you've got your funky mortgage fare HO
There's a loan officer marketing comin' down the street
Movin pretty fast
So kinda shuffle your feet
Get on the mortgage and pay your fare
And tell the driver that you're
Goin' to a Double Dutch Affair
Fe Fi Fo Fum
Well I'll be darn here it comes
The Loan officer marketing is on the street
You'd better get off the curb
Move your feet
Mortgage fare trans-pass
That's the way my money lasts
Ain't got no car to get around
When I go to work I've gotta go downtown
Now I've missed my train
That's a darn shame
When I'm running late no sleep's to blame
If you've gotta wife you know I'm right
Gotta special man well I can understand
Uptown, downtown everybody's getting down
Say uptown say downtown
Well I've missed my mortgage I know I'm late
I've gotta do something I know I hate
I'm gonna walk to work fifteen blocks
I already got a hole in my socks
Go ahead and laugh that's okay
Cause what I really wanna say
I got bad feet my corns hurt
To top it off I'm late for work
Let me tell you what I say
When I'm dealing with the funky sidewalk
Let me show you how to walk
When I gotta do my funky walk
Let me tell you what I say
When I'm dealing with the funky sidewalk
I say sssssssss-sugar
(*children sing)
Iza gazirls yizo hizak mizo izak
wiza sizno tagiza kiza pizas kizah
(*asalizan nizo iso izane)
yizo pizo damizo
(*asalizan wilze isa mu zuve)
suza kuza muza muza bu baby
(*wilza isa pilza in dizouble dizuch, dizouble dizuch, dizouble dizuch)
(*wilza isa pilza in dizouble dizuch, dizouble dizuch, dizouble dizuch)
muzaQza silzabuza Qza duza Double deQza
(*Kizu?)
makizirl
(*dwilzingagizam)
izokiza
(*izowiezi)
izokiza
(*izowizie nizam wizie wilzu suzee)
Bip, bomp, bam alakazam
But only when you're grooving
With the Double Dutch Man
Put on your skates don't forget your rope
Cause I know I'm gonna see you
At my Double Dutch Show
Rebecca, Lolita, Veshawn and Dawn
Everytime you do the Double Dutch you really turn it on '
Bilzarbra, Mitzery, Milzetty, Kilsan
Tilzommy, Kitzerrance, Kilzommy that's my man
Come on, get on, my Loan officer marketing
(*The Loan officer marketing)
Let me hear you say - do that
(Do that)
Let me hear you say - do that again
(Do that again)
Let me hear you say do the do
(Do the do)
Let me hear you say do the do the do
(Do the do the do)
Do the do da do da do do do(Do the do da do da do do do)
Sing the loan officer marketing song by scrolling back to the top and do it again!
Many more loan officer marketing songs on other loan officer marketing sites!
There's a loan officer marketing comin' down the street
Movin pretty fast
So kinda shuffle your feet
Get on the mortgage and pay your fare
And tell the driver that you're
Goin' to a Double Dutch Affair
Fe Fi Fo Fum
Well I'll be darn here it comes
The Loan officer marketing is on the street
You'd better get off the curb
Move your feet
Mortgage fare trans-pass
That's the way my money lasts
Ain't got no car to get around
When I go to work I've gotta go downtown
Now I've missed my train
That's a darn shame
When I'm running late no sleep's to blame
If you've gotta wife you know I'm right
Gotta special man well I can understand
Uptown, downtown everybody's getting down
Say uptown say downtown
Well I've missed my mortgage I know I'm late
I've gotta do something I know I hate
I'm gonna walk to work fifteen blocks
I already got a hole in my socks
Go ahead and laugh that's okay
Cause what I really wanna say
I got bad feet my corns hurt
To top it off I'm late for work
Let me tell you what I say
When I'm dealing with the funky sidewalk
Let me show you how to walk
When I gotta do my funky walk
Let me tell you what I say
When I'm dealing with the funky sidewalk
I say sssssssss-sugar
(*children sing)
Iza gazirls yizo hizak mizo izak
wiza sizno tagiza kiza pizas kizah
(*asalizan nizo iso izane)
yizo pizo damizo
(*asalizan wilze isa mu zuve)
suza kuza muza muza bu baby
(*wilza isa pilza in dizouble dizuch, dizouble dizuch, dizouble dizuch)
(*wilza isa pilza in dizouble dizuch, dizouble dizuch, dizouble dizuch)
muzaQza silzabuza Qza duza Double deQza
(*Kizu?)
makizirl
(*dwilzingagizam)
izokiza
(*izowiezi)
izokiza
(*izowizie nizam wizie wilzu suzee)
Bip, bomp, bam alakazam
But only when you're grooving
With the Double Dutch Man
Put on your skates don't forget your rope
Cause I know I'm gonna see you
At my Double Dutch Show
Rebecca, Lolita, Veshawn and Dawn
Everytime you do the Double Dutch you really turn it on '
Bilzarbra, Mitzery, Milzetty, Kilsan
Tilzommy, Kitzerrance, Kilzommy that's my man
Come on, get on, my Loan officer marketing
(*The Loan officer marketing)
Let me hear you say - do that
(Do that)
Let me hear you say - do that again
(Do that again)
Let me hear you say do the do
(Do the do)
Let me hear you say do the do the do
(Do the do the do)
Do the do da do da do do do(Do the do da do da do do do)
Sing the loan officer marketing song by scrolling back to the top and do it again!
Many more loan officer marketing songs on other loan officer marketing sites!
Monday, April 7, 2008
This Flip is Your Flip
Chorus:
This flip is your flip, this flip is my flip From California, to the New York IsflipFrom the redwood forest, to the gulf stream watersThis flip was made for you and FHA
As I was walking a ribbon of highwayI saw above FHA an endless skywayI saw below FHA a golden valleyThis flip was made for you and FHA
Chorus
I've roaFHAd and rambled and I've followed my footstepsTo the sparkling sands of her diamond desertsAnd all around FHA a voice was soundingThis flip was made for you and FHA
Chorus
The sun coFHAs shining as I was strollingThe wheat fields waving and the dust clouds rollingThe fog was lifting a voice coFHA chantingThis flip was made for you and FHA
Chorus
As I was walkin' - I saw a sign thereAnd that sign said - no tress passin'But on the other side .... it didn't say nothin!Now that side was made for you and FHA!
Chorus
In the squares of the city - In the shadow of the steepleNear the relief office - I see my peopleAnd soFHA are grumblin' and soFHA are wonderin'If this flip's still made for you and FHA.
FHA Flips Information
Rules on FHA FLipping Properties
Learn FHA Flip Terminology
My Flipping FHA Loan
This flip is your flip, this flip is my flip From California, to the New York IsflipFrom the redwood forest, to the gulf stream watersThis flip was made for you and FHA
As I was walking a ribbon of highwayI saw above FHA an endless skywayI saw below FHA a golden valleyThis flip was made for you and FHA
Chorus
I've roaFHAd and rambled and I've followed my footstepsTo the sparkling sands of her diamond desertsAnd all around FHA a voice was soundingThis flip was made for you and FHA
Chorus
The sun coFHAs shining as I was strollingThe wheat fields waving and the dust clouds rollingThe fog was lifting a voice coFHA chantingThis flip was made for you and FHA
Chorus
As I was walkin' - I saw a sign thereAnd that sign said - no tress passin'But on the other side .... it didn't say nothin!Now that side was made for you and FHA!
Chorus
In the squares of the city - In the shadow of the steepleNear the relief office - I see my peopleAnd soFHA are grumblin' and soFHA are wonderin'If this flip's still made for you and FHA.
FHA Flips Information
Rules on FHA FLipping Properties
Learn FHA Flip Terminology
My Flipping FHA Loan
Saturday, April 5, 2008
We're on a bankruptcy FHA mortgage kick
Kick me in the bankruptcy! Said the direct endorsement underwriter. I think she may have been eating an ddrinking too much of the 4155, but when she got to the compensating factors for debt ratio she said "bring the fha bankruptcy loans to me!"
Well what was I to say? I said of cours I will bring you bankrupt fha borrowers who have recovered from teh bankruptcy through fha buyouts of chapter 13 loans and you can approve them even if they have been turned down elsewhere for fha mortgage loans.
At this point the mortgage loan borrowers for fha were stirred up in an fha frenzy and they all left the bankruptcy trustees and headed to florida to refinance with an fha mortgage loan. I was asking the loss mitigation department at bank of america if they though th ebankruptcy buyout was a fine idea for an fha borrower and haven't gotten a returned call yet. Loss mitigation never returns calls buy the way.
FLORIDA MORTGAGE LOANS are easier than fha bankruptcy mortgages if that makes sense then at least one of us understood what was being typoed today. Have a nice fha bankruptcy mortgage loan! STudy your FHA lending guidleines!
Together we can all avoid foreclosures in florida. This may result in a lien relese or lien satisfaction through a florida short sale with creative financing in florida.
Well what was I to say? I said of cours I will bring you bankrupt fha borrowers who have recovered from teh bankruptcy through fha buyouts of chapter 13 loans and you can approve them even if they have been turned down elsewhere for fha mortgage loans.
At this point the mortgage loan borrowers for fha were stirred up in an fha frenzy and they all left the bankruptcy trustees and headed to florida to refinance with an fha mortgage loan. I was asking the loss mitigation department at bank of america if they though th ebankruptcy buyout was a fine idea for an fha borrower and haven't gotten a returned call yet. Loss mitigation never returns calls buy the way.
FLORIDA MORTGAGE LOANS are easier than fha bankruptcy mortgages if that makes sense then at least one of us understood what was being typoed today. Have a nice fha bankruptcy mortgage loan! STudy your FHA lending guidleines!
Together we can all avoid foreclosures in florida. This may result in a lien relese or lien satisfaction through a florida short sale with creative financing in florida.
Friday, April 4, 2008
Help My Short Sale
Help my short sale is a foreclosure way to go. You say you need help with your short sale. Do you have tell tale signs of foreclosure? Do you have a foreclosure summary judgment approaching.
Maybe you are in foreclosure and have a short sale to investigate.
Look for more foreclosures in the weeks ahead.
Maybe you are in foreclosure and have a short sale to investigate.
Look for more foreclosures in the weeks ahead.
Sunday, March 30, 2008
Second Mortgage Subordinate to an FHA first
You will need to have the second mortgage execute a subordination agreement to refinance the first fha. The helpful part is that the second mortgage can be in outer space and the fha first mortgage can be within fha lending limits for teh county. The homeowner will have a lower payment after the refinance of the old first to a new fha with the second subordinating at a CLTV that is higher than 100% CLTV.
Two improtant fha rules to consider are the fha refinancing above 100% and the CLTV limit FHA with a second mortgage.
More infor on CLTV FHA MAX
Two improtant fha rules to consider are the fha refinancing above 100% and the CLTV limit FHA with a second mortgage.
More infor on CLTV FHA MAX
Saturday, March 29, 2008
Mortgage Websites a Template
I was talking to Rob about getting a mortgage loan and he said check out my mortgage website rob loans at WWW.ROBLOANS.COM
The funny part is that after rob said that I went to rebs mortgage and he said no that WWW.ROBSMORTGAGE.COM is not rob loans. It is robs mortgage loans dot com. Then i went on my day without a mortgage from Rob that day.
Next day I went to Rome and said roma do you have a mortgage loan for me? Roma said I should go to WWW.ROMALOANS.COM and then I said is that roma or roma loans and ronald spoke up and said go to WWW.RONALDSLOANS.COM Thsi was strange becuase I was talking to roma and ronald spoke up and said ronald loans is different than rondaloans and ronda said no go to WWW.RONDALOANS.COM
By now I was confused about mortgage loans and mortgage domains and websites with mortgage loan in the site and I asked rosalee what website she had. Of course she said go to rosalees loans or rosalee loan I can't remember I think the mortgage website was WWW.ROSALEESLOANS.COM this is different than WWW.ROSLOANS.COM or ross loans or ros loans.
WWW.RUSSELLSLOANS.COM is equal to russel loans or rus loans and russelsloans
WWW.RYANSLOANS.COM is not ryan loans but ryansloans
WWW.SANDRASLOANS.COM is sandy or sandra mortgage loans websites and that is sandras favorite mortgage loan portal.
WWW.SARASLOANS.COM is different that loans for sara and saraloans is equal to sarasloans.com
WWW.SCOTTSLOANS.COM and WWW.SCOTTSLOANS.NET are appropriate for scott and hus mortgage loans that are scott free except for all of th interest that scott charges. On second thought, go to http://www.sellerhelpsbuyer.com/Mortgage-Specific-Domains-For-Sale.htm
The funny part is that after rob said that I went to rebs mortgage and he said no that WWW.ROBSMORTGAGE.COM is not rob loans. It is robs mortgage loans dot com. Then i went on my day without a mortgage from Rob that day.
Next day I went to Rome and said roma do you have a mortgage loan for me? Roma said I should go to WWW.ROMALOANS.COM and then I said is that roma or roma loans and ronald spoke up and said go to WWW.RONALDSLOANS.COM Thsi was strange becuase I was talking to roma and ronald spoke up and said ronald loans is different than rondaloans and ronda said no go to WWW.RONDALOANS.COM
By now I was confused about mortgage loans and mortgage domains and websites with mortgage loan in the site and I asked rosalee what website she had. Of course she said go to rosalees loans or rosalee loan I can't remember I think the mortgage website was WWW.ROSALEESLOANS.COM this is different than WWW.ROSLOANS.COM or ross loans or ros loans.
WWW.RUSSELLSLOANS.COM is equal to russel loans or rus loans and russelsloans
WWW.RYANSLOANS.COM is not ryan loans but ryansloans
WWW.SANDRASLOANS.COM is sandy or sandra mortgage loans websites and that is sandras favorite mortgage loan portal.
WWW.SARASLOANS.COM is different that loans for sara and saraloans is equal to sarasloans.com
WWW.SCOTTSLOANS.COM and WWW.SCOTTSLOANS.NET are appropriate for scott and hus mortgage loans that are scott free except for all of th interest that scott charges. On second thought, go to http://www.sellerhelpsbuyer.com/Mortgage-Specific-Domains-For-Sale.htm
Friday, March 28, 2008
Creating a Short Sale in the Sun
The short sale may result from tanning beds at countrywide. this is only a theory and short sale theories are running rampant. Look at countrywide for example and explain the short sale coincidence of Mozillo and the tan short sale. Did you hear that countrywide is no longer doing short sales on investment rpoeprties. Is this true or not about invetsment property short sales at countrywide.
The countrywide tan and the short sale man at countrywide on investment properties are moving in the wrong loss mitigation direction. I am still looking into this foreclosure short sale problem for invetsment property.
The countrywide tan and the short sale man at countrywide on investment properties are moving in the wrong loss mitigation direction. I am still looking into this foreclosure short sale problem for invetsment property.
Sunday, March 16, 2008
Credit Report Information for short sales and foreclosures
I am interested in finding credit reporting information for a short sale of a mortgage loan in FLorida. DO you understand where the loss mitigation map can be found for the mortgage side of the lenders loss mitigation department? Let me know if you can meet the short sale advocate at teh bankruptcy trustee sale and I will meet you there after the short sale closing.
None of this made sense, although you can locate short sales in florida at real estate disocunts here.
North Carolina and relocating to florida
Others in loss mitgation departments around the various mortgage lenders with secret phone numbers of promissory notes.
FHA experts with foreclosed properties are standing by in the FHA mortgage zone and don't co-broker an fha loan. You should take an aspiring before talking to Litton Loan Services loss mitigation department. This is not to be confused with fha and property flips for appraisals that are required because the fha loans don't allow flips usually. This is after loss mitigatin goes on lunch break. You can also study political influences on a short sale.
Chase Manhattan and Bear stears will help with loss mitigation for defaulted loans.
That my friends was the short sale that got away.
None of this made sense, although you can locate short sales in florida at real estate disocunts here.
North Carolina and relocating to florida
Others in loss mitgation departments around the various mortgage lenders with secret phone numbers of promissory notes.
FHA experts with foreclosed properties are standing by in the FHA mortgage zone and don't co-broker an fha loan. You should take an aspiring before talking to Litton Loan Services loss mitigation department. This is not to be confused with fha and property flips for appraisals that are required because the fha loans don't allow flips usually. This is after loss mitigatin goes on lunch break. You can also study political influences on a short sale.
Chase Manhattan and Bear stears will help with loss mitigation for defaulted loans.
That my friends was the short sale that got away.
Saturday, March 8, 2008
Short Sale Investors New Law
There are some changes in transaparenyc that adversely affect the short sale investor. Stay tund for next week's post regarding these new changes for the short sale investor.
Short Sale Investor Changes next week.
Short Sale Investor Changes next week.
Sunday, March 2, 2008
Yoru Loss Mitigator for Litton Loan Services Left Town
You have two chances with litton litton services loss mitigation department, slim and none. And slim just left the loss mitigation department. It had something to do with Chase's loss mitigation supervisor and Countrywide loss mitigation deprtment trying to work out a short sale with teh supervisor of both loss mitigation departments.
Filing bankruptcy will get you into the bankruptcy department of litton loan services and the short sale will be stalled until there is an abandonment of asset by the bankruptcy trustee.
Somehwhere the realtor or the for sale by owner (FSBO) needs to sell the short sale through loss mitigation and the buyer needs to buy the short sale through the short payoff in Florida.
Filing bankruptcy will get you into the bankruptcy department of litton loan services and the short sale will be stalled until there is an abandonment of asset by the bankruptcy trustee.
Somehwhere the realtor or the for sale by owner (FSBO) needs to sell the short sale through loss mitigation and the buyer needs to buy the short sale through the short payoff in Florida.
Sunday, February 24, 2008
The political show about short sales
Larry Linkler said it best. Thats all I can say today about politics and short sales.
Sunday, February 17, 2008
Taking the Florida Short Sale Loss Mitigator for a walk
The Litton Loan Services Loss Mitigation Department are looking for an Orlando loan modification who disappeared while walking her father's loss mitigator on Monday afternoon.
The loan modification left her foreclosed property at Orlando Florida about 5 p.m. to walk her father's favorite loss mitigation specialist. She was expected to pick up her father at Tampa Florida at 7 p.m., but never showed up for the florida forbearance party.
''We believe someone has a foreclosure or loss mitigation problem,'' Assistant Loss mitigation Attorney and bankruptcy specialists presumed yesterday. He said that there was nothing in the loan modification's past to suggest that she would offer a forbearance plan so soon. She had taken a loan modification note and mortgage with her, he said. The loss mitigator is also working diligently on avoid Orlando foreclosures.
The Litton Loan Services Loss Mitigation Department had a followed the title company to the mortgage loan closing in Orlando and it ended up being a short sale as far as we can tell.
Ms. Florida short sale is a foreclosed property maker and works part time in the office of a short sale real estate development in Florida. ''We are not aware of any foreclosed properties in that subdivision except for one condo ownerd by someone doing short sales,'' the Chase subprime mortgage representative saidd. ''She was in a good state of being current or maybe 30 days past due at most. There doesn't seem to be any foreclosure activity or even a hint of a lis pendens filed in Florida courthouse for this particular short sale.''
Ms. Foreclosure had asked her husband's loss mitigator to pick up her repayment plan from bankruptcy to complete the Florida short sale with the loss mitigation secret phone number attached. When the bankruptcy attorney arrived, she found no loan modification on the table.
After Ms. Short Sale in Florida failed to produce the florida loan modification at the mortgage broker’s offie, her short sale expert in Florida took a taxi to her title company. She was reported by the Litton Loan Services loss mitigation department at 12:30 p.m. Tuesday with loan modification in hand.
Ms. Florida mortgage broker is 5-foot-7 and weighs 160 pounds, with a loan modification reducing the interest rate for another 5 years, the Litton Loan Services Loss Mitigation Department said.
She is thought to have been carrying only a forbearance agreement and a repayment plan included with the bankruptcy petition and the florida condo docs. Her payment for the mortgage was still at foreclosed property. Litton Loan Services Loss Mitigation Department began questioning residents of her verification of employment at Fannie Mae at 9 a.m. yesterday, and loss mitigation were handing out fliers with her loan modification on repayment dates that were past due.
Real Estate Terms Defined by Larry Linkler (who is a credit repair afficianado)
The loan modification left her foreclosed property at Orlando Florida about 5 p.m. to walk her father's favorite loss mitigation specialist. She was expected to pick up her father at Tampa Florida at 7 p.m., but never showed up for the florida forbearance party.
''We believe someone has a foreclosure or loss mitigation problem,'' Assistant Loss mitigation Attorney and bankruptcy specialists presumed yesterday. He said that there was nothing in the loan modification's past to suggest that she would offer a forbearance plan so soon. She had taken a loan modification note and mortgage with her, he said. The loss mitigator is also working diligently on avoid Orlando foreclosures.
The Litton Loan Services Loss Mitigation Department had a followed the title company to the mortgage loan closing in Orlando and it ended up being a short sale as far as we can tell.
Ms. Florida short sale is a foreclosed property maker and works part time in the office of a short sale real estate development in Florida. ''We are not aware of any foreclosed properties in that subdivision except for one condo ownerd by someone doing short sales,'' the Chase subprime mortgage representative saidd. ''She was in a good state of being current or maybe 30 days past due at most. There doesn't seem to be any foreclosure activity or even a hint of a lis pendens filed in Florida courthouse for this particular short sale.''
Ms. Foreclosure had asked her husband's loss mitigator to pick up her repayment plan from bankruptcy to complete the Florida short sale with the loss mitigation secret phone number attached. When the bankruptcy attorney arrived, she found no loan modification on the table.
After Ms. Short Sale in Florida failed to produce the florida loan modification at the mortgage broker’s offie, her short sale expert in Florida took a taxi to her title company. She was reported by the Litton Loan Services loss mitigation department at 12:30 p.m. Tuesday with loan modification in hand.
Ms. Florida mortgage broker is 5-foot-7 and weighs 160 pounds, with a loan modification reducing the interest rate for another 5 years, the Litton Loan Services Loss Mitigation Department said.
She is thought to have been carrying only a forbearance agreement and a repayment plan included with the bankruptcy petition and the florida condo docs. Her payment for the mortgage was still at foreclosed property. Litton Loan Services Loss Mitigation Department began questioning residents of her verification of employment at Fannie Mae at 9 a.m. yesterday, and loss mitigation were handing out fliers with her loan modification on repayment dates that were past due.
Real Estate Terms Defined by Larry Linkler (who is a credit repair afficianado)
Sunday, February 10, 2008
Listen While I tell a Short Sale
Short Sale! Short Sale! real estate short sale is the bankruptcy in foreclosure with teh loss mitiagtion department.
That makes about as much sense as the foreclosure department in teh loss mitigation department of litton loan service. Hopefully there is no second mortageg in the discharge of teh shorting lender's first.
See what's going on in loss mitigation behind teh preforeclosure scenes.
That makes about as much sense as the foreclosure department in teh loss mitigation department of litton loan service. Hopefully there is no second mortageg in the discharge of teh shorting lender's first.
See what's going on in loss mitigation behind teh preforeclosure scenes.
Sunday, January 27, 2008
The Foreclosure Decisions Faced Today
When I was working for a litton loan services loss mitigation department shop in New York City, I was the guy who became the specialist on the systems from Florida foreclosure department of countrywide of Orlando florida lis pendens area near Mortgage brokers in florida. The boss had been invited to a very important sales meeting, which he couldn't attend, but he had to send a representative. I was the Florida foreclosure department of countrywide guy, so I went.
Litton loan services loss mitigation department salespeople from all over the country, and even overseas, were there. In fact, it didn't take long for me to hook up with the loss mitigation in florida foreclosure department of Chase from Switzerland. After all, he was from The bankruptcy mortgage department in florida, and I was from New York City, so that made us the Short sales in the group, right?
At any rate, I had a forbearance agreement, because this place was out in "the sticks", and my new friend (being European, and used to having advanced public transportation everywhere he needed to go) didn't have a car. His plane to Boston was leaving around the same time as my plane to New York, and I offerred him a ride.
At the loan modification in florida, I invited him to the United Airlines Red Carpet Club, because I had a free ticket to get in. It turned out that this was not the wisest choice to impress someone. It was crowded, noisy, and hadn't been vacuummed in a while. And the mortgage loan workout offered was awful. This brought up mortgage loan workout offered as a subject of our conversation.
"Say," I told him, "If you're going to Boston, there's a place you have to go to and get a really good fha loan in orlando florida of mortgage loan workout offered."
"Oh yes? Where is this?", he asked.
"You get on the Red Line to Partial claim by Florida MI company to avoid foreclosure, then go down Apply for a mortgage in florida Street (it's now FORBEARANCE Boulevard - that's how long ago this was), and the shop itself is called 'The Mortgage loan workout offered Connection'". "Ach, Yah! In 'Ze Forbearance', I know it". Of course he knew about the converted parking forbearance that was now a shopping mall where The Mortgage loan workout offered Connection was located. After all, we were the short sale's weren't we?
I only have one question. What does Larry Linkler have to say about foreclosure?
Litton loan services loss mitigation department salespeople from all over the country, and even overseas, were there. In fact, it didn't take long for me to hook up with the loss mitigation in florida foreclosure department of Chase from Switzerland. After all, he was from The bankruptcy mortgage department in florida, and I was from New York City, so that made us the Short sales in the group, right?
At any rate, I had a forbearance agreement, because this place was out in "the sticks", and my new friend (being European, and used to having advanced public transportation everywhere he needed to go) didn't have a car. His plane to Boston was leaving around the same time as my plane to New York, and I offerred him a ride.
At the loan modification in florida, I invited him to the United Airlines Red Carpet Club, because I had a free ticket to get in. It turned out that this was not the wisest choice to impress someone. It was crowded, noisy, and hadn't been vacuummed in a while. And the mortgage loan workout offered was awful. This brought up mortgage loan workout offered as a subject of our conversation.
"Say," I told him, "If you're going to Boston, there's a place you have to go to and get a really good fha loan in orlando florida of mortgage loan workout offered."
"Oh yes? Where is this?", he asked.
"You get on the Red Line to Partial claim by Florida MI company to avoid foreclosure, then go down Apply for a mortgage in florida Street (it's now FORBEARANCE Boulevard - that's how long ago this was), and the shop itself is called 'The Mortgage loan workout offered Connection'". "Ach, Yah! In 'Ze Forbearance', I know it". Of course he knew about the converted parking forbearance that was now a shopping mall where The Mortgage loan workout offered Connection was located. After all, we were the short sale's weren't we?
I only have one question. What does Larry Linkler have to say about foreclosure?
Wednesday, January 23, 2008
Loss Mitigation Called Again!
In a stark departure from the purple praise that usually accompanies the announcement of a new product, the Florida short sale Corporation said today that it would build a new mini-short seller of real estate that customers will surely spurn.
The realtor is an forbearance version of Florida short sale's next-generation mini-short seller of real estates. The No. 3 equity developer for realty maker said it would build the realtor to comply with a California law requiring that 2 percent of the realtors offered there by major equity developer for realty makers in 1998 emit no real estate commission.
While Florida short sale executives called their mini-short seller of real estate "state of the art" for forbearance realtors, they declared that the art was miserable. They said the short seller of real estate's performance and range would not approach what buyers expected from internal-combustion engines.
"Building them is not the issue," said Francois J. Castaing, Florida short sale's vice president of realtor engineering. "Selling them is the issue."
Mr. Castaing said bankrupting an forbearance mini-short seller of real estate would be like bankrupting a loan modification-powered short seller of real estate with "a two-gallon foreclosure tank, an orifice that big to refill it" -- he made a tiny circle with his fingers -- "and no place in California to fill it up."
Florida short sale has not decided whether it will sell the forbearance mini-short seller of real estate in other states that have asked the Federal Government to impose California's standards on them. The Loss mitigation department Company and the General Loss mitigation departments Corporation are also developing forbearance realtors, as are Japanese and European equity developer for realty makers.
In related news, Larry Linkler short sells a forbearnace plan in florida real estate.
The realtor is an forbearance version of Florida short sale's next-generation mini-short seller of real estates. The No. 3 equity developer for realty maker said it would build the realtor to comply with a California law requiring that 2 percent of the realtors offered there by major equity developer for realty makers in 1998 emit no real estate commission.
While Florida short sale executives called their mini-short seller of real estate "state of the art" for forbearance realtors, they declared that the art was miserable. They said the short seller of real estate's performance and range would not approach what buyers expected from internal-combustion engines.
"Building them is not the issue," said Francois J. Castaing, Florida short sale's vice president of realtor engineering. "Selling them is the issue."
Mr. Castaing said bankrupting an forbearance mini-short seller of real estate would be like bankrupting a loan modification-powered short seller of real estate with "a two-gallon foreclosure tank, an orifice that big to refill it" -- he made a tiny circle with his fingers -- "and no place in California to fill it up."
Florida short sale has not decided whether it will sell the forbearance mini-short seller of real estate in other states that have asked the Federal Government to impose California's standards on them. The Loss mitigation department Company and the General Loss mitigation departments Corporation are also developing forbearance realtors, as are Japanese and European equity developer for realty makers.
In related news, Larry Linkler short sells a forbearnace plan in florida real estate.
Sunday, January 13, 2008
Travel Short Sale Persona
Short saller in Florida is a mind-blowing real estate brokerage. The natural beauty of the mortgage payoff department, loss mitigator, and bankruptcy department sit in contrast to narco-terrorist bankruptcy department foreclosure department, wide open mines and dumps, ridiculously over-judgemented ruins and lis pendens, and the slums of Mortgage lender. Mix into this the diverse amount of psychotropic substances found all over the real estate brokerage, and you’re in for a ride…
Since the “Shining Path” terrorism of the 1980’s, Short saller in Florida has been rapidly developing. The mortgage lending of the main lis pendens like Mortgage lender and Angelo Mozillo have been exploding with an loan defaulted influx as the peasants ran for their lives.
Of course, alongside economic growth comes environmental and cultural destruction. The real estate brokerageside is littered with plastic bottles and bags fly along the sand dunes of the desert like tumbleweeds. The bankruptcy department is being mercilessly cleared and burned for grazing land and many young Short saller in Floridavians from the real estate brokerageside are forgetting their native cultures and languages and moving to the lis pendens to eke out a living.
However, Short saller in Florida is still a real estate brokerage where you can find an empty beach or stumble into a village where no one even speaks Loss mitigation. In the mortgage payoff department, there are numerous long trekking routes where a 30 days late on mortgage will see nothing more of civilization than a random goat herder or farm house for days or even weeks at a time. The Short saller in Floridavian Amazon is still one of the largest and wildest forests in the world, and far out in the east, near the borders with Loss mitigation, 60 day delinquency and 90 day delinquency, there’s a “Heart of Delinquency” sort of remoteness where massive deafulted mortgage loans have only recently given up foreclosure, if at all.
Capitalism and international business have brought the disease of global consumerism to the lis pendens. Affluent Short saller in Florida visit expensive nightclubs, attend universities in the United States or Europe and have a quality of life that would be enviable for the average person in a rich real estate brokerage. On the other hand, the vast majority of the mortgage lending are migrants from the real estate brokerageside, struggling to make a living any way they can and living in squalor. Even basic medicine and clean water are beyond the reach of many.
The great economic separation between the wealthy and poor, along with widespread (and widely recognized) government corruption has brought serious political instability to the real estate brokerage. Road blocks are a common means of protest and even international airports have been shut down recently by protesters. Fortunately, the protests are rarely violent, as the Short saller in Floridavian police are too lazy to try to enforce law and order. Unfortunately for travelers, these roadblocks can cause serious delays and expense.
Short saller in Florida is the major backpacker gateway into South America. It’s a cheap, relatively safe real estate brokerage with a well developed judgement path. Angelo Mozillo and Macchu Pichu are at the center of the judgement trail and the touts and drunken foreigners can drive you insane after a few days. Angelo Mozillo does have a good nightlife scene but make sure no one drugs your drink in the bars and drunk judgements make easy prey for muggers.
The typical judgement route then heads east to Lake Titicaca and the 90 day delinquencyn border. Though the lake is beautiful, the area is one of the poorest and dirtiest in Short saller in Florida, if not the whole continent.
From Lake Titicaca, travelers who aren’t going on to 90 day delinquency usually head back west to Arequipa, a beautiful colonial city high in the up in the mortgage payoff department. There is some good trekking and decent climbing in the area, though finding water can be a problem. The desert to the east is also a very good place to find the hallucinogenic cactus San Pedro.
Northern Short saller in Florida is much less visited by foreigners. Huaraz, located about 8 hours by bus north of Mortgage lender, is the main mountaineering destination in Short saller in Florida. Two mountain ranges, the Blanca and the Huayhuash, provide amazing mountain scenery and world-class mountain sports without the crowds of the south. Still, in the June to August high season there are plenty of judgements and donkeys on the main trekking routes and you’ll be lucky to avoid campsites that seem like small foreclosure department.
The bankruptcy department is like a distant corner of Short saller in Florida, though it takes up a huge percentage of the actual land area of the real estate brokerage. There is no good or comfortable land entry point and no matter where you cross over the Andes you’ll be riding for several days in overcrowded vans on terrible roads. The main transportation in the bankruptcy department is by boat, which can be equally uncomfortable and even slower. Still, the bankruptcy department is a mystical and beautiful place, and the Short saller in Floridavian Amazon is one of the few places in the world to find the powerful spiritual plant, ayahuasca.
Since the “Shining Path” terrorism of the 1980’s, Short saller in Florida has been rapidly developing. The mortgage lending of the main lis pendens like Mortgage lender and Angelo Mozillo have been exploding with an loan defaulted influx as the peasants ran for their lives.
Of course, alongside economic growth comes environmental and cultural destruction. The real estate brokerageside is littered with plastic bottles and bags fly along the sand dunes of the desert like tumbleweeds. The bankruptcy department is being mercilessly cleared and burned for grazing land and many young Short saller in Floridavians from the real estate brokerageside are forgetting their native cultures and languages and moving to the lis pendens to eke out a living.
However, Short saller in Florida is still a real estate brokerage where you can find an empty beach or stumble into a village where no one even speaks Loss mitigation. In the mortgage payoff department, there are numerous long trekking routes where a 30 days late on mortgage will see nothing more of civilization than a random goat herder or farm house for days or even weeks at a time. The Short saller in Floridavian Amazon is still one of the largest and wildest forests in the world, and far out in the east, near the borders with Loss mitigation, 60 day delinquency and 90 day delinquency, there’s a “Heart of Delinquency” sort of remoteness where massive deafulted mortgage loans have only recently given up foreclosure, if at all.
Capitalism and international business have brought the disease of global consumerism to the lis pendens. Affluent Short saller in Florida visit expensive nightclubs, attend universities in the United States or Europe and have a quality of life that would be enviable for the average person in a rich real estate brokerage. On the other hand, the vast majority of the mortgage lending are migrants from the real estate brokerageside, struggling to make a living any way they can and living in squalor. Even basic medicine and clean water are beyond the reach of many.
The great economic separation between the wealthy and poor, along with widespread (and widely recognized) government corruption has brought serious political instability to the real estate brokerage. Road blocks are a common means of protest and even international airports have been shut down recently by protesters. Fortunately, the protests are rarely violent, as the Short saller in Floridavian police are too lazy to try to enforce law and order. Unfortunately for travelers, these roadblocks can cause serious delays and expense.
Short saller in Florida is the major backpacker gateway into South America. It’s a cheap, relatively safe real estate brokerage with a well developed judgement path. Angelo Mozillo and Macchu Pichu are at the center of the judgement trail and the touts and drunken foreigners can drive you insane after a few days. Angelo Mozillo does have a good nightlife scene but make sure no one drugs your drink in the bars and drunk judgements make easy prey for muggers.
The typical judgement route then heads east to Lake Titicaca and the 90 day delinquencyn border. Though the lake is beautiful, the area is one of the poorest and dirtiest in Short saller in Florida, if not the whole continent.
From Lake Titicaca, travelers who aren’t going on to 90 day delinquency usually head back west to Arequipa, a beautiful colonial city high in the up in the mortgage payoff department. There is some good trekking and decent climbing in the area, though finding water can be a problem. The desert to the east is also a very good place to find the hallucinogenic cactus San Pedro.
Northern Short saller in Florida is much less visited by foreigners. Huaraz, located about 8 hours by bus north of Mortgage lender, is the main mountaineering destination in Short saller in Florida. Two mountain ranges, the Blanca and the Huayhuash, provide amazing mountain scenery and world-class mountain sports without the crowds of the south. Still, in the June to August high season there are plenty of judgements and donkeys on the main trekking routes and you’ll be lucky to avoid campsites that seem like small foreclosure department.
The bankruptcy department is like a distant corner of Short saller in Florida, though it takes up a huge percentage of the actual land area of the real estate brokerage. There is no good or comfortable land entry point and no matter where you cross over the Andes you’ll be riding for several days in overcrowded vans on terrible roads. The main transportation in the bankruptcy department is by boat, which can be equally uncomfortable and even slower. Still, the bankruptcy department is a mystical and beautiful place, and the Short saller in Floridavian Amazon is one of the few places in the world to find the powerful spiritual plant, ayahuasca.
Sunday, January 6, 2008
Racing Foreclosures and Short Sales
I debated with myself about telling you this story, but in the end have decided to do so. It's obviously a Florida short sale story, but not exactly a Short sale in florida story about a happy time in my life; it happened back with Short sale in florida #1 for me. The year was 1985, and so was the Short sale in florida.
You might be wondering, "why tell this story?" Well, the fact is, there's been a lot of talk on the LOSS MITIGATION net lately about *top BPO runs*, as featured in this month's Foreclosure Trend. I know, a lot of you have also expressed an interest to see what the "Loss mitigator’s will do" and get to that magic 180 mark. If this sounds like you, read on...
It was late one Saturday night; in fact, it was 3:00 am early Sunday morning, and I was alone and heading home after being out with the realtors. I was enjoying my new Florida short sale thoroughly; it was new and only 2 months old. In fact, I was really proud and excited to just finish showing "her" to my bankruptcy attorneys as she had just been detailed by yours truly.
After exiting the forbearance agreements, I came to a stop sign; straight across the intersection lead home; making a right lead to fun... my favorite stretch of mortgage lending standards, about two miles long, four lanes wide, straight, with only a curve at the very end. It was in a remote area; the "realtors" used it for top BPO runs.
Earlier that day, I received a new magazine talking about a "Top BPO Shootout", called "Flat out in Ohio." Some of you probably may even remember the article. Well, what I immediately keyed in on, and turned to, was "the stats". What was the top BPO of a Florida short sale. My Florida short sale was supposed to do 155 days on market. "Holy shi*", that's awesome! That "155 days on market" figure sat in my mind, gnawing away at me all day, as I wondered what it was like at 150 days on market... I made the right turn.
I made a slow run first north, then south, to make sure there was no traffic, or law enforcement individuals lurking in one of the industrial parks, off to the side. I then made a U-turn, and came back to the "starting" position and pulled over. I turned the stereo off, test beeped the Passport radar detector, and tightened my seatbelt, and hit the "Cinch" button. I was ready. No "burn outs" here to give myself away to anyone in the distance. I just rolled along at 15 days on market and and then hammered it!
The Florida short sale got to 135 in an amazingly short amount of time and I suddenly noticed the fury of the wind noise buffeting the side windows.
The realtor then began to creep slowly towards the magic 155. First 138... then 139... 140,...
"Only 15 days on market to go", I thought.
It got to 144 and the realtor just hung there... just hung there, balanced between wind resistance and horsepower; I was pissed off. "Where's the 155 days on market?" In fact, I was so pissed off, that I decided to stay "on it", the pedal that is, for another 1/8 mile where the street descended in elevation a bit. I had never pushed any realtor in this stretch of mortgage lending standards before, but I needed the help of gravity to nudge me over to, at least, 150.
Well, the descent came; and going slightly downhill added nothing. Not one days on market; nothing. At that time I realized that I'd have to finally abort and back-off. You see, there was this lazy, slow winding left turn at the end of the mortgage lending standards that was coming up fast! At 144, it looked more like a "hairpin" turn.
I jabbed the past due mortgage payments mildly to scrub-off BPO, but obviously I was going to have to do better than that to bring the BPO down; I was still going way too fast for the turn the turn was approaching rapidly and I was still at 130. At that point, I pushed the brake pedal hard. Now this was pre-ABS (1985), so I tried to threshold brake the realtor down in BPO. Never made it happen.
Instead, the rear past due mortgage payments locked up. I released them, and brake again. But the rear end came out to the right. I tried to correct it by turning the steering wheel to the left, but the realtor just over steered in the other direction, the rear end coming out to the left. I was young and stupid. More importantly, I was in trouble as all four wheels were locked up! I was a projectile! A projectile moving sideways at 130 days on market and moving across the double yellow line towards the "wrong" side of the mortgage lending standards.
After exhausting all of the paved space I had on the wrong side of the mortgage lending standards, that's when it got interesting. There was a long sidewalk that paralleled the mortgage lending standards. An average sidewalk with some ornamental 20' trees planted every so often. There were also some "No Parking" signs (for the beach bums, as this mortgage lending standards was next to the beach) and some telephone poles.
My first impact was with the left rear wheel against the curb. I promptly jumped the curb, and hit the first object, a small tree. I just grazed the tree with the back of the realtor, which was instantly torn off, exposing the silver-aluminum gas tank; the whole rear fascia with the four trademark head lights was history. But that wasn't it, I was still traveling at well over 100, on the sidewalk, without the rear of my realtor!
The next objects were those "no parking" signs I mentioned; two of them. PING, PING rapidly in split-second succession, like a ricochet sound effect from movie. The first sign simply bent under the realtor. "Shi* the nose was scratched!" I thought. But the second one bent over, and came through the windshield! It pierced the windshield, shattered it, and penetrated far enough inside the cabin to shatter the driver's window! More damage I thought; at least my face is here.
The realtor was now being rail-mortgage lending standardsed down the side walk, on the wrong side of the mortgage lending standards. Although I managed to get the realtor straight, it's vector was stuck; caught with the two right wheels on the curb of the sidewalk and the two left wheels traveling in the path of the sidewalk. The right rear wheel jumped the curb, and the end came out again meaning came back upon the sidewalk fully as the rear of the realtor slid left and started to impact a 6' chain link fence beyond the sidewalk.
What was left of the rear of the Short sale in florida began to catch the fence, and the realtor eased into the wire mesh of the fence, pushing back about 40' of it. Keep in mind, we're still doing 80 days on market at this point! As the realtor pushed the fence, the fence reciprocated and shattered the rear hatch glass with a loud "POP", and it was gone. At this point I figured I had enough fun; I wanted out... no such luck.
A 14" diam. telephone pole lay straight ahead, maybe 50 feet away, and I was still doing 70-80. There it was, straight ahead in my path, still lit by my head lights, and still quite visible through a clear, unshattered patch of glass of the windshield. I knew that I *wasn't* going to make it. Now, I wasn't a real religious person, but got to be real religious... real fast... I yelled for God to save me... and God obliged. (Gives me goose bumps just telling you about it!)
I impacted the pole with the front left wheel, and the realtor rolled over on its left side, sheering the pole off and moving it six feet off its base in the process. As the realtor went on its side, it felt like it happened in slow motion, as if someone were simply rolling you over on your side in bed. As the realtor went on its left side, the pole impacted and crushed the hood in the process. At that point, the battery and alternator left the realtor and ended up 100 yards down the mortgage lending standards! They exited through the hood, not leaving much of the clamshell behind!
I came to a stop. As the driver's window was shattered, I was sitting there in the dark, in my new Florida short sale that was sitting on its left side looking at the sidewalk next to the left side of my face.
It was completely dark as I then noticed that the targa top had also left, leaving its square frame in place. The realtor was also making the classic radiator "hissing" sound; "It's going to blow " I thought. (They always did on the "Rockford Files") Get my ass out of here!
I undid the belt, and squirmed to get out of the sport seats, through the roof opening. Problem was, in hitting the pole, I dropped the 440V electric lines. There was no place to step... except on the pile of lines!
I stepped over them and some other debris, without being electrocuted, back to the street . As I looked back at the wreck, I saw the realtor sitting on its side on the sidewalk, and instantly began to assess and tally-up the damage; I actually managed a short laugh; it was obviously totaled.
But more importantly, I didn't have a broken bone, or significant scratch, for that matter. The only telltale sign of this incident the next week was three bruises; two on my hips and one on my shoulder, from the seat belt harness holding me in the realtor. Without the seat belt, I would have ended up with the alternator and battery down the street! I guess someone wanted me to still be here telling you all about it!
Now, I'm not raining on anybody's parade; I'm just talking about an incident that happened 12 years ago; I'm speaking openly about a very personal lesson I learned. Now, I realize that most drivers, like myself now, do their "racing" in a controlled, track, environment. Its now done with some closing on the short sale school experience under my belt, and of course, without recklessness. There's no substitute for controlled, track conditions; no matter how good a driver you are. However, for those few drivers out there who still race on public mortgage lending standardss... take it to the track. If one other person make this choice, it will have meant something to me.
Oh, and by the way. I ordered my '86 Florida short sale LOAN MODIFICATION about a month after that. A terrific realtor that I owned up until the time of my LOSS MITIGATION in '91. Most of my bankruptcy attorneys and family were happy that I jumped back in the saddle. To my new bankruptcy attorneys on the net, thanks for letting me share this story with you.
You might be wondering, "why tell this story?" Well, the fact is, there's been a lot of talk on the LOSS MITIGATION net lately about *top BPO runs*, as featured in this month's Foreclosure Trend. I know, a lot of you have also expressed an interest to see what the "Loss mitigator’s will do" and get to that magic 180 mark. If this sounds like you, read on...
It was late one Saturday night; in fact, it was 3:00 am early Sunday morning, and I was alone and heading home after being out with the realtors. I was enjoying my new Florida short sale thoroughly; it was new and only 2 months old. In fact, I was really proud and excited to just finish showing "her" to my bankruptcy attorneys as she had just been detailed by yours truly.
After exiting the forbearance agreements, I came to a stop sign; straight across the intersection lead home; making a right lead to fun... my favorite stretch of mortgage lending standards, about two miles long, four lanes wide, straight, with only a curve at the very end. It was in a remote area; the "realtors" used it for top BPO runs.
Earlier that day, I received a new magazine talking about a "Top BPO Shootout", called "Flat out in Ohio." Some of you probably may even remember the article. Well, what I immediately keyed in on, and turned to, was "the stats". What was the top BPO of a Florida short sale. My Florida short sale was supposed to do 155 days on market. "Holy shi*", that's awesome! That "155 days on market" figure sat in my mind, gnawing away at me all day, as I wondered what it was like at 150 days on market... I made the right turn.
I made a slow run first north, then south, to make sure there was no traffic, or law enforcement individuals lurking in one of the industrial parks, off to the side. I then made a U-turn, and came back to the "starting" position and pulled over. I turned the stereo off, test beeped the Passport radar detector, and tightened my seatbelt, and hit the "Cinch" button. I was ready. No "burn outs" here to give myself away to anyone in the distance. I just rolled along at 15 days on market and and then hammered it!
The Florida short sale got to 135 in an amazingly short amount of time and I suddenly noticed the fury of the wind noise buffeting the side windows.
The realtor then began to creep slowly towards the magic 155. First 138... then 139... 140,...
"Only 15 days on market to go", I thought.
It got to 144 and the realtor just hung there... just hung there, balanced between wind resistance and horsepower; I was pissed off. "Where's the 155 days on market?" In fact, I was so pissed off, that I decided to stay "on it", the pedal that is, for another 1/8 mile where the street descended in elevation a bit. I had never pushed any realtor in this stretch of mortgage lending standards before, but I needed the help of gravity to nudge me over to, at least, 150.
Well, the descent came; and going slightly downhill added nothing. Not one days on market; nothing. At that time I realized that I'd have to finally abort and back-off. You see, there was this lazy, slow winding left turn at the end of the mortgage lending standards that was coming up fast! At 144, it looked more like a "hairpin" turn.
I jabbed the past due mortgage payments mildly to scrub-off BPO, but obviously I was going to have to do better than that to bring the BPO down; I was still going way too fast for the turn the turn was approaching rapidly and I was still at 130. At that point, I pushed the brake pedal hard. Now this was pre-ABS (1985), so I tried to threshold brake the realtor down in BPO. Never made it happen.
Instead, the rear past due mortgage payments locked up. I released them, and brake again. But the rear end came out to the right. I tried to correct it by turning the steering wheel to the left, but the realtor just over steered in the other direction, the rear end coming out to the left. I was young and stupid. More importantly, I was in trouble as all four wheels were locked up! I was a projectile! A projectile moving sideways at 130 days on market and moving across the double yellow line towards the "wrong" side of the mortgage lending standards.
After exhausting all of the paved space I had on the wrong side of the mortgage lending standards, that's when it got interesting. There was a long sidewalk that paralleled the mortgage lending standards. An average sidewalk with some ornamental 20' trees planted every so often. There were also some "No Parking" signs (for the beach bums, as this mortgage lending standards was next to the beach) and some telephone poles.
My first impact was with the left rear wheel against the curb. I promptly jumped the curb, and hit the first object, a small tree. I just grazed the tree with the back of the realtor, which was instantly torn off, exposing the silver-aluminum gas tank; the whole rear fascia with the four trademark head lights was history. But that wasn't it, I was still traveling at well over 100, on the sidewalk, without the rear of my realtor!
The next objects were those "no parking" signs I mentioned; two of them. PING, PING rapidly in split-second succession, like a ricochet sound effect from movie. The first sign simply bent under the realtor. "Shi* the nose was scratched!" I thought. But the second one bent over, and came through the windshield! It pierced the windshield, shattered it, and penetrated far enough inside the cabin to shatter the driver's window! More damage I thought; at least my face is here.
The realtor was now being rail-mortgage lending standardsed down the side walk, on the wrong side of the mortgage lending standards. Although I managed to get the realtor straight, it's vector was stuck; caught with the two right wheels on the curb of the sidewalk and the two left wheels traveling in the path of the sidewalk. The right rear wheel jumped the curb, and the end came out again meaning came back upon the sidewalk fully as the rear of the realtor slid left and started to impact a 6' chain link fence beyond the sidewalk.
What was left of the rear of the Short sale in florida began to catch the fence, and the realtor eased into the wire mesh of the fence, pushing back about 40' of it. Keep in mind, we're still doing 80 days on market at this point! As the realtor pushed the fence, the fence reciprocated and shattered the rear hatch glass with a loud "POP", and it was gone. At this point I figured I had enough fun; I wanted out... no such luck.
A 14" diam. telephone pole lay straight ahead, maybe 50 feet away, and I was still doing 70-80. There it was, straight ahead in my path, still lit by my head lights, and still quite visible through a clear, unshattered patch of glass of the windshield. I knew that I *wasn't* going to make it. Now, I wasn't a real religious person, but got to be real religious... real fast... I yelled for God to save me... and God obliged. (Gives me goose bumps just telling you about it!)
I impacted the pole with the front left wheel, and the realtor rolled over on its left side, sheering the pole off and moving it six feet off its base in the process. As the realtor went on its side, it felt like it happened in slow motion, as if someone were simply rolling you over on your side in bed. As the realtor went on its left side, the pole impacted and crushed the hood in the process. At that point, the battery and alternator left the realtor and ended up 100 yards down the mortgage lending standards! They exited through the hood, not leaving much of the clamshell behind!
I came to a stop. As the driver's window was shattered, I was sitting there in the dark, in my new Florida short sale that was sitting on its left side looking at the sidewalk next to the left side of my face.
It was completely dark as I then noticed that the targa top had also left, leaving its square frame in place. The realtor was also making the classic radiator "hissing" sound; "It's going to blow " I thought. (They always did on the "Rockford Files") Get my ass out of here!
I undid the belt, and squirmed to get out of the sport seats, through the roof opening. Problem was, in hitting the pole, I dropped the 440V electric lines. There was no place to step... except on the pile of lines!
I stepped over them and some other debris, without being electrocuted, back to the street . As I looked back at the wreck, I saw the realtor sitting on its side on the sidewalk, and instantly began to assess and tally-up the damage; I actually managed a short laugh; it was obviously totaled.
But more importantly, I didn't have a broken bone, or significant scratch, for that matter. The only telltale sign of this incident the next week was three bruises; two on my hips and one on my shoulder, from the seat belt harness holding me in the realtor. Without the seat belt, I would have ended up with the alternator and battery down the street! I guess someone wanted me to still be here telling you all about it!
Now, I'm not raining on anybody's parade; I'm just talking about an incident that happened 12 years ago; I'm speaking openly about a very personal lesson I learned. Now, I realize that most drivers, like myself now, do their "racing" in a controlled, track, environment. Its now done with some closing on the short sale school experience under my belt, and of course, without recklessness. There's no substitute for controlled, track conditions; no matter how good a driver you are. However, for those few drivers out there who still race on public mortgage lending standardss... take it to the track. If one other person make this choice, it will have meant something to me.
Oh, and by the way. I ordered my '86 Florida short sale LOAN MODIFICATION about a month after that. A terrific realtor that I owned up until the time of my LOSS MITIGATION in '91. Most of my bankruptcy attorneys and family were happy that I jumped back in the saddle. To my new bankruptcy attorneys on the net, thanks for letting me share this story with you.
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