On Friday, January 15, 2010, HUD Secretary Shaun Donovan issued a press release, as part of HUD’s Neighborhood Stabilization initiative, temporarily waiving FHA’s 90 Day Seasoning Rule. Amazingly, HUD is cognizant that the seasoning guideline is having a negative impact on alleviating the problem of abandoned and blighted homes:
“In today’s market, FHA research finds that [...]
Any real estate professional, who engages in short sale negotiations, is fully aware of just how frustrating the process can be or even downright impossible. There are financial incentives for mortgage servicers to drag out the process as long as possible. It takes weeks, sometimes months, to get a response from the banks, who often [...]
If you are a Distressed Consultant, as defined in the NY Foreclosure Prevention & Responsible Lending Act of 2008 and discussed in a prior post, then you need to know how to stay compliant with the law to avoid civil and criminal penalties.
Those engaged in foreclosure defense should take a closer look at loans originated by TBW when structuring their defense strategy…
Florida Company Reaches Multi-state Agreement Over Non-traditional Loans
Carrie Bay | 06.25.09
Taylor Bean & Whitaker Mortgage Corp. (TBW), a wholesale lender based in Ocala, Florida, has agreed to pay 13 states and the District of Columbia [...]
This investigation comes as no surprise – I have been speaking with clients and those who wanted to jump on the loan mod bandwagon about the New York Foreclosure and Lender Responsibility Act of 2008 and its effect on them, but often to deaf ears. Most people weren’t even aware of the Act or just [...]
The IRS's willingness to subordinate or even release Tax Liens is monumental and will provide relief to those homeowners trying to refinance or sell their properties to get out from under their often bone-crushing debt. I cannot tell you how many closings have been postponed or adjourned indefinitely because of an IRS Tax Lien popping [...]