Archive for Troubled Lenders
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I Wonder If Other Lenders are Looking At This as a Potential Loss Recovery Center
I had an interesting instant message chat yesterday with a lawyer friend who has been approached by a major lender.
Seems this lender is looking for local resources to follow-up on short sales after the closing. They want to make sure the “value” everyone agreed to at the short sale closing was really the “value” at [...] Read more »
Sometimes It’s Just Fun To Play With Them Like a Cat With a Toy.
Yesterday, I got a call on my cell phone…
Me: Hello, this is Tim.
Caller: Hi! I am a personal mortgage broker and I’d like to see if I can help you save money.
Me: (Annoyed) I already have all of the funding sources I need.
Caller: Are you sure? What if this call was opportunity knocking and you [...] Read more »
Lenders Face Obstacles in Loan Modifications
In June I talked about why lenders don’t do more short sales. So, it should come as no surprise the lenders are facing increased pressure from the investors who bought the packaged loans to hold the line on modifications. They are pressing the servicing companies to only modify the loan when it looks like there [...] Read more »
Why Don’t Lenders Do More Short-Sales?
The concept of short-sales is all the rage now. Guru after guru is offering learning materials and boot camps and all manner of expensive fluff because this is the latest buzz.
Real investors have been doing short-sales with lenders for as long as there have been lenders and borrowers. It isn’t new and the lender is [...] Read more »
