This headline out of Missouri at first seems encouraging to the average homeowner trying to find anyway possible to keep from having their home taken from them. Like this family in the featured story, many homeowners have done everything possible to “keep a roof over their heads”, including selling all the family jewelry. But unlike…
Under the pressure of yet another round of demands from Congress to ease the requirements for mortgage modifications and principal reduction modifications, the “GSEs” or quasi-governmental mortgage clearinghouses for mortgages – FNMA and FDMC (Fannie Mae & Freddie Mac) have rationalized their steadfast refusal to grant principal reduction modifications. http://www.dsnews.com/articles/fhfa-criticized-for-arguments-used-against-principal-reduction-2012-03-15. The rationale for disallowing 100%…
A fellow closing professional recently asked us: From: “lay professional” “Sent: Monday, March 12, 2012 11:57 AM To: cpittman@pittlaw.net Subject: Question for you : Charlie – what are the laws in regards to record and disperse of funds from a closing. I thought everyone had 48 hours to record and dissperse. See email below that…
