Josh Talayka | February 21, 2010
On December 1, 2009, the Treasury announced that is was going to begin fining services that fail to permanently modify as many mortgages as the government thinks they should be. Servicers failing to meet performance obligation under the Servicer Participation Agreement will be subject to consequences which could include monetary penalties and sanctions. When a mortgage is modified, it must first go through a trial phase. The problem however is that in many cases these modifications were not made permanent.
Category: Loan Modification Series |
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Tags: Chase International, Homeowners Assistance Program, Loan Modification, mortgage, Nevada, NV, Real Estate, reno, Servicer Participation Agreement, Talayka, www.sellingnorthernnv.com
Josh Talayka | February 17, 2010
In the state of Nevada, it has been possible for a borrower to receive a deficiency judgment even after they’ve already lost their home to foreclosure. Effective October 1, 2009 Assembly Bill No. 471 addresses this issue by limiting who may be awarded a deficiency judgment relating to real property.
Category: Short Sale & Foreclosures |
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Tags: AB 471, AB471, Assembly Bill 471, Chase International, Credit, deficiency judgment, Foreclosure, Nevada, NV, Real Estate, reno, Talayka, www.sellingnorthernnv.com
Josh Talayka | February 9, 2010
On Monday November 30, 2009, the U.S. Treasure set guidelines on a plan for mortgage companies to speed up “Short Sales” and other loan modification alternatives. These new guidelines will become effective on April 5, 2010
Category: Short Sale & Foreclosures |
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Tags: Chase International, Foreclosure Prevention, Nevada, NV, Real Estate, reno, short sale, Talayka, treasury, www.sellingnorthernnv.com
