Mass Credit Control

“UNDISCLOSED SHORT SALE PAYMENTS MAY BE ILLEGAL Undisclosed payments in short sale transactions, especially those paid outside of escrow, may violate the law, including RESPA, laws against loan fraud, and licensing laws. Short sale agents have increasingly reported to C.A.R. about requests for agents and their clients to pay junior lienholders and others, oftentimes outside [...]

Projections suggest that 50% of mortgages will be under water within the next 24 months. We have all been hearing about HAFA the last while and how its here to save homeowners and get banks to play nice. Maybe I’m biased but I don’t think banks needed the monetary incentive, but they will certainly take [...]

Some of my clients don’t realize that whether they short sale or foreclose there is potential tax liability. (People who complain about paying their taxes can be divided into two types: Men and Women.) I encourage my clients to speak with their tax professional or CPA to determine their risk of owing taxes after short [...]

Below is an email I got from my brother and business partner. We had been emailing back and forth about what to do with the ‘deficiency verbiage’ on a short sale approval letter. He came up with a brilliant approach: “Ok, so we know that when it is a purchase money loan (first or second) [...]

Really cool freebie—– If you want to: Help homeowners facing foreclosure, build a legitimate real estate business or grow the one you have, I have put together a video training suite that will do the hard work for you! (Not really, but pretty close…) You see, I have been teaching powerful real estate strategies for [...]

In this post I share the 6 ways to identify a credit repair scam according to the FTC: There are so many ways to improve your credit on your own, if you want to improve your credit find a game plan that you can follow and then stick to it for at least 90 days. [...]

You can, in most cases, get your second mortgage to approve a lien release and discounted payoff. In other words, you can make the second mortgage ‘go away’ forever without selling your property. Why would the lender be willing to do this? 1- The lender realizes they will get less money through short sale or [...]

When President Obama allocated 75 billion DOLLARS to stimulate banks and to ‘help’ struggling homeowners in default, he anticipated the money would benefit 3-4 MILLION families. As of September 1st, 2009 it had only approved and qualified 1700 households for permanent solutions!!! He recently adjusted his goal saying that he hoped to get 375,000 households [...]

Can I complete a short sale without missing a mortgage payment? Most real estate professionals have been duped into believing that if a homeowner is current on their mortgage payments, then the bank won’t approve a short sale. The truth? You can complete a short sale without ever missing a mortgage payment. The natural question [...]

So you worked your butt off to do a short sale and then the bank still reported it as a foreclosure on your credit report?!?! As crazy as this sounds its more common than you’d think; banks have and will report short sales as foreclosures on consumer credit reports. It’s most likely a slothful mistake [...]