Following the third unsuccessful attempt by Senate Majority Leader Harry Reid (D-Nevada) who proposed the extension, President Obama is now expected to sign the bill to extend the First Time homebuyers tax credit to September 30, 2010. The bill was previously entangled in a larger jobs bill. Once the...
San Jose Short Sale
Following the third unsuccessful attempt by Senate Majority Leader Harry Reid (D-Nevada) who proposed the extension, President Obama is now expected to sign the bill to extend the First Time homebuyers tax credit to September 30, 2010. The bill was previously entangled in a larger jobs bill. Once the...
Extension of Tax Credit Deadline failed on the Senate floor. The deadline is today, June 30, 2010. The amendment to extend the home buyer tax credit deadline to September 30, 2010 failed on the Senate floor last week. This resulted in the third unsuccessful attempt by Senate Majority Leader...
Fannie Mae wants borrowers to act in Good Faith in working out an alternative solution with the servicer. Simply walking away (“Strategic Default”) may subject a borrower to legal action to recoup the outstanding mortgage debt. This means, strategic defaulters may walk away from the property however under Fannie...
As a San Jose Short Sale Specialist I am often asked: “Why are we required to put in a good faith deposit BEFORE the bank approves the short sale? “This is often followed by: “No one else requires a deposit.” My response is typically something like this: The reasoning...