N.Y. to sue Wells Fargo, Bank of America over mortgage practices

foreclosure crimesNo surprise here. They are continuing to violate loan modification, short sale requirement time lines. I know this personally since i am involved in a short sale with my mom’s place in Fla. We had 3 offers over 270 which the bank turned down.  We had another offer of 270 in Jan and the Bank (Wells Fargo) has not responded ,   Cleaned the place out and ready to do a jingle mail- shut off the elec and cancel the insurance. Do you have any idea what a place in Fla is like with a/c?

Read more on N.Y. to sue Wells Fargo, Bank of America over mortgage practices…

Credit misconceptions

Someone sent this to me but i can’t remember who. Thought i’d pass it on anyway.

1) “Free” credit report scores are accurate and reflect mortgage report scores. No.
For the purposes of obtaining a mortgage; free credit reports are literally worthless.

Read more on Credit misconceptions…

New short sale and loan mod rules

Homeowners receiving loan modifications for their primary residence (and noted on their credit report); are now being treated as short sellers by Fannie Mae…even if the homeowner was never late on their mortgage.

Read more on New short sale and loan mod rules…