Brian Garff's Blog (2)
Bank of America Comes Through
In February we had a 10 month-old deal denied by Fannie Mae with NO counter, NO explanation, and NO discussion. Sound familiar? I took the advice of some on the site and e-mailed [email protected]. Within two weeks they assigned a resolution specialist, Amy Geimer. Amy went over the deal in detail with me and discovered that the previous negotiator had essentially ignored the most recent BPO. The offer that had been denied was about 5k above the "reserve" amount. I called the… Continue
Added by Brian Garff on April 29, 2010 at 3:00am — 2 Comments
Bank of America to Reduce Mortgage Principal on Certain Loans
Reducing Principal will help Reduce Foreclosures
People who face losing their home in foreclosure often ask, "If the bank is going to lose all this money by selling my home at fair market value, why can't they re-work my loan at that same price? I could make
the payment if they would simply reduce my loan balance to fair market
value." In effect, that is exactly what Bank of America is proposing
to do.
Not all of the details are out, but…
ContinueAdded by Brian Garff on March 26, 2010 at 7:58am — No Comments
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