No doc refi and no appraisal
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FHA Streamline
Believe it or not- it exists. It’s called an FHA streamline appraisal. You  have to be current and have an FHA loan. It does not matter if you can’t qualify otherwise. Even if your credit is not great. No income verification, no credit check.

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10 best and 10 worst performing metros out of the top 200.
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Metro Bus
The ranking considers factors such as sales/listing activity and prices, months of remaining inventory (MRI), days on market (DOM), sold-to-list price ratio and foreclosure and REO activity.

Top Metros

  1. Santa Ana-Anaheim-Irvine, California

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Foreclosure slowdown
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Foreclosure Sign
The California Homeowner Bill of Rights (HBR) which just passed is the reason behind the recent slowdown in foreclosure sales and short sales in Ca. The reason for this is because of the litigation risk from this bill.

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Loan mods- the joke of the decade.
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Loan Mod. Application
Banks are up to their usual tricks. It seems as if nothing has changed. We pass laws and they laugh at us. Here is more proof.

The IFR settlement gives loan modifications—which keeps people in their homes—and short sales “equal footing” by providing dollar for dollar credit for both foreclosure alternatives So it’s possible for servicers to meet their required goal of providing $5.7 billion in mortgage assistance by offering only short sales and deeds-in-lieu since there are no limits on what types of relief must be provided. That does not bode well for loan mods. The amount actually approved is ridiculous.

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Questions to ask the bank after you fax in authorization to release information
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Bank Authorization Release information

When you are dealing with a seller and taking over the property subject to the existing loan, you are going to transfer the property to a trust, with you as trustee. So in order to get the bank to talk to you, you have to get a signed authorization to release information from the seller Then you call the bank and tell them that you are the trustee and that you have this form and ask where to fax it.

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