November 12, 2024
How long is the CT short sale process from list to close? How long will the short sale process take? While all sales are different, you can expect an average short sale to last 4-5 months from list to close. Now mind you, I have had some approved in as little as 10 days, and
November 12, 2024
What is a HUD Partial Claim and how will it affect my home sale?If you have an FHA backed mortgage and you’ve ever had any type of loan workout – including a loan modification or forbearance, odds are you have a partial claim against the home. Over a million new HUD Partial Claims were written
October 22, 2024
FHA updates Partial Claim Document Recording and Payoff Statement ProcessSince the beginning of Covid 19, Congress has provided HUD with the authority to use Partial Claims, which are zero interest subordinate liens, on their own or in combination with loan modifications, as a loss mitigation tool. Mortgagees may use to assist Borrowers in bringing their
June 11, 2024
Another Norcom short sale success!FHA loan holders have been in some turbulent times lately, with many falling behind and seeking help to avoid foreclosure.FHA has responded by introducing a lot of new workout options including 40 year loan mods and streamline short sales.When my clients job was eliminated he soon started falling behind on the
December 28, 2023
Find out how this seller walked away from her upside down FHA mortgage with Pennymac!Pennymac is a mortgage servicer that holds a lot of FHA mortgages. The last few years of FHA forbearances, loan modifications and HUD partial claims has left a lot of folks with FHA loans in trouble and owing more than their
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