When dealing with a Nationstar Mortgage Loan Modification (soon to be Mr. Cooper) generally speaking the second mortgage does not disappear. It is possible that the second mortgage has been charged off or maybe we a collection…"
I agree that in many instances you do what you can to avoid any contributions from any parties but there are times when that must come into play. We work such a large volume that it's just a law of numbers. It's just like those…"
"Of course the above is pending the first mortgage's allowance for the fees to be paid on the HUD. Sellers can often settle with their second mortgages as well in other ways. If you have any questions please feel free to reach out.
I hope all went well with your transaction above. We just wanted to chime as as many surfing through the Internet will get stuck on what you have written and we wanted to add some clarity. We see this misinterpretation of SB458 all the time.…"
Reaching out to the OOP at WF is usually not as much help as you would hope and they tend to only deal directly with the homeowner. We work frequently with this Office for documentation purposes only but what you really need to do is get to…"
I sent you a message via e-mail but I wanted to just comment. If both loans are with Bank of America and we are able to step in we have a bulk short sale liaison to deal with problems exactly like this. She hops into equator when necessary…"
Is your file in Equator? If so you will not be able to close unless you really have some connections. Your offer may need to be sent for a re-review. Our bulk short sale liaison at Bank of America normally can rush a review on what they call…"
Jonathan Katz started in the Loss Mitigation industry in early 2000's. He worked for the one of the largest loan servicers in the US in their loss mitigation/foreclosure department. Through a work flow of 600 cases a month and several years of experience he created an organization in 2005 dedicated to helping homeowners. Now he is taking the next step and putting out the information that even professionals will benefit from.
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