AG settlement starts the clock on short sales

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Mortgage Loan Applicants who had a deed in lieu of foreclosure and/or short sale, the waiting period is as follows: 4 year waiting period after short sale. waiting period start clock starts from the date of short sale reflected on the HUD Settlement Statement.

Limited Release of Claims: The settlement releases state AG (and some bank. No hard requirement that servicer not begin foreclosure before the. clock while a borrower is being considered for a modification after the.

Short sales and foreclosures equally degrade FICO scores Zillow appoints Errol Samuelson to new executive position Zillow Inc. has named errol samuelson to the new position of chief industry development officer and will lead the company’s real estate industry relations strategy.. He will report to Spencer Rascoff, Zillow’s CEO. Other industry-related services will continue to be managed by Greg Schwartz, Zillow’s chief revenue officer.A short sale will generally lower your FICO score by 50 to 130 points. Because loan applications don’t require you to mention your short sales (they will ask about foreclosures), you can begin the process of applying for a new home loan (or any loan, for that matter) immediately after your short sale.

How to buy CHEAP REAL ESTATE Deals. Breaking Down The Details On Short Sales In Real Estate. Now lenders prefer short sales to foreclosures because the cost and time required for a short sale is typically less than for a foreclosure. But a short sale is still not quick with 90-120 days from start to finish being the norm in some areas.

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There were 88,303 short sales in the fourth quarter, up 15% from one year prior, according to RealtyTrac. The short sales completed in the fourth quarter took an average 308 days since the.

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Chicago considers eminent domain to seize underwater mortgages WASHINGTON – The regulator for mortgage. use of eminent domain to restructure home loans. san bernardino county has proposed using such powers to seize distressed mortgages at a discount and then.

– Short sale or deed in lieu of foreclosure has been approved by all parties and proof of funds has been provided to servicer No Stay Within 15 Days of Sale: If a borrower applies for a modification within 15 days of a scheduled sale, servicer must: – Review the borrower or – Notify the borrower that it was unable to complete the