All over the state, banks and lending institutions are growing their loss mitigation departments in order to process more short sale transactions and facilitate loan modifications and reamortizations. In this day and age, most lenders accept short sale requests and/or offers, even after someone has been issued a Notice of Default. Because of the 2009 foreclosure crisis, mortgage lenders have been suffering from record losses and are now much more willing to work with homeowners to complete short sales. (more…)
Archive for the ‘Mortgage’ Category
Credit Score & Getting Approved
October 14, 2009A good credit history is now more important than ever. Solid credit keeps the cost of consumer financing down, and it can be the deciding factor in whether or not an auto loans or home loans application is approved.
In today’s fast-paced, high-tech age, your credit history will be reviewed more often by artificial intelligence than human intelligence. This computerization has made the Mortgage loan process much more efficient, and that’s a good thing. But computers take all the subjectivity out of credit evaluation, and that means you have to take ownership of your own credit standing to avoid being blindsided by a potential stain on your credit record. (more…)
