Mortgage Resolution (Litigation)
Posted by TDN on Jun 11, 2012 in Litigation, Mortgage, Personal Finance | 4 comments
Definition: Mortgage Resolution, also commonly referred to as Mortgage Litigation is the examination of loan documents for the prevalence of fraud in the origination or implementation of the loan. Legal recourse is then sought against the lender based on the findings. It is not a loan modification and the results are typically a lot more impressive. The legal recourse that can be sought is a...
Read MoreHow To Qualify For A Short Sale
Posted by Debt Expert on Sep 23, 2011 in Mortgage, Short Sale | 0 comments
What is a Short Sale? A short sale can potentially occur when a homeowner finds themselves in a situation of being upside down in their mortgage. What this means is, the current market value of the property is much less than the present mortgage value on the home. The Lender then agrees to accept less than the mortgage amount by the current homeowner from the sale of the property. How Do...
Read MorePros and Cons of a Short Refinance
Posted by TDN on Apr 24, 2011 in Foreclosure, Mortgage, Mortgage Help | 1 comment
A short refinance is one of several alternatives that allows both a lender and home owner to avoid foreclosure. It is typically available for borrowers that are in default and involves creating a new loan amount than the existing outstanding balance owned. The difference is typically forgiven by the lender. Why would the lender agree to such terms? Foreclosure is almost always...
Read MoreHow Do Events Impact Your Credit Score?
Posted by TDN on Apr 22, 2011 in Credit, Credit Score, Foreclosure, Personal Finance | 3 comments
So how does foreclosure impact your credit score? What about other damaging item like Bankruptcy? Until recently the credit agencies have been very secretive about what will happen to your FICO score after you start to fall behind on your payments. Just recently Fair Isaac, which is the company that developed FICO scores, has come out with some estimates (averages) on how your credit score will...
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