I am helping out on a short sale in Redwood City where Chase is servicing the first and second loan. What this means is that the owner has first and second mortgages that were originally gotten from Chase. These loans were then sold to investors and Chase maintained the servicing. This means that ultimately Chase no longer makes the decision about whether or not to…
ContinueAdded by Marcy Moyer on April 22, 2012 at 8:34am — No Comments
It is no secret that the market in Silicon Valley is crazy. The inventory has never been lower so the competition for homes is fierce. For example, Taylor Morrison is opening up a new town home development in Sunnyvale in May and they already have 300 people on the waiting list. Homes in Palo Alto are sometimes getting…
ContinueAdded by Marcy Moyer on April 19, 2012 at 8:30pm — No Comments
I just closed a Wells Fargo Short Sale that is not typical. It was a nice 3 bedroom townhome in North San Jose, close to Santa Clara. The owners were divorcing and neither could afford to buy the other one out or afford the property alone. This constitutes a hardship in most lender's minds. I have closed other Wells Fargo short sales with similar circumstances. The current owners had been able to…
ContinueAdded by Marcy Moyer on April 13, 2012 at 6:42am — No Comments
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