Can anyone out provide me with information on contacting Litton Loan Servicing. I have a seller whose property is going into foreclosure and I have been trying to work a short sale on the property. I spoke with someone at Wilson and Associates who gave me a pay off amount then referred me to Litton. However, I can not get through the phone system to speak with anyone about the property.
The seller has had health problems, can not pay and is not able to help much in the…Continue
The largest owners of US mortgages are two companies that some would allege are owned by Uncle Sam. They are Fannie Mae and Freddie Mac. They own an estimated 55-60% of all US…Continue
Added by Jennifer Escobar on November 29, 2010 at 4:24pm — No Comments
MARKET COMMENT Mortgage bond prices closed sharply lower last week driving mortgage rates higher again. We started the week with some flight to quality buying following word that Ireland received a bailout from the EU and the IMF. This spread fears of additional bailouts with talk of Portugal and Spain possibly being next. However, rates shot higher later in the week following two Treasury auctions. Indirect bidders, an indication of foreign demand for US debt, were below…Continue
Added by Kenneth Bargers on November 29, 2010 at 10:43am — No Comments
Added by Sidney Kutchuk on November 27, 2010 at 11:00pm — No Comments
The Stop Foreclosure Institute recently received a…Continue
Added by Jennifer Escobar on November 26, 2010 at 6:00pm — No Comments
Added by Jennifer Escobar on November 24, 2010 at 8:30pm — No Comments
Just joined and looking forward in joining discussions from all---thanks Have a Blessed Holiday
Coldwellbanker Premier RE - Clovis, Ca
Added by Pauline Fernandez on November 24, 2010 at 12:52pm — No Comments
Well....after all of the hoopla from last month's report that Wells Fargo will no longer postpone foreclosures on short sales, NAR reports that they've been in meetings with Wells (and several other large lenders) to address concerns regarding their short sale processes and REO disposition processes. Now, Wells is reporting that they WILL allow one (1) foreclosure postponement on a short sale if the following conditions are met...
1) Wells Fargo has an APPROVED short sale…Continue
Glendale CA –Wall Street Fat Cats say homeowners shouldn’t walk away from upside down
homes. Why? “If you do it, then everyone will start doing it”, they say. “It isn’t moral. People should own up to their commitments.
People should be responsible. This is more than just a contract. It’s what holds the entire economy together.” However, those same rules don’t seem to apply to the Wall Street…Continue
Added by Jennifer Escobar on November 23, 2010 at 11:30pm — No Comments
Existing-home sales retreated in October on the heels of two strong monthly gains, according to the National Association of REALTORS®.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, declined 2.2 percent to a seasonally adjusted annual rate of 4.43 million in October from 4.53 million in September, and are 25.9 percent below the 5.98-million-unit level in October 2009 when sales were surging prior to the…Continue
Added by Kenneth Bargers on November 23, 2010 at 10:21pm — No Comments
MARKET COMMENT Mortgage bond prices got crushed last week pushing rates considerably higher. Trading started negatively Monday when stronger than expected retail sales figures piled on top of the weakness seen the prior week. There was considerable profit taking as traders sold bonds. Tame inflation readings helped buffer some of the price increases and the Fed’s bond purchasing also helped but they were not enough to stem the negative trend of overall rising rates. For the…Continue
Added by Kenneth Bargers on November 22, 2010 at 10:33am — No Comments
The foreclosure process is getting longer and longer. According to statistics from LPS Applied Analytics:
Added by Kenneth Bargers on November 18, 2010 at 9:30pm — No Comments
I had some trouble getting short sale approval on a home in Ohio with Citi Mortgage that had gone on for 10 months. I began collecting emails from as many company officers and contacts I could find explaining the complications and general incompetence of the negotiator. I wrote an email and explained I would be overnighting the entire short sale packaged to the CFO, CEO and Head of Short Sale Dept within 24 hours and that I regretted the fact that I had to upset so many people at CITI as a…Continue
Houses that will sit empty through the winter need attention to avoid frozen pipes, reports Long Island American Water, which is part of American Water, the largest investor-owned U.S. water and waste water utility company.
The company offers these tips for ensuring that pipes don’t burst:
Added by Kenneth Bargers on November 18, 2010 at 11:32am — No Comments
Added by Richard Weaver on November 17, 2010 at 4:35pm — No Comments
Realtors RANT,this week was a really bizarre week for me. First, I lost 1 shortsale because the insurance for a jr lien (BOA) declined the shortsale 1 week before closing because the seller had an 811 credit score, he felt the seller could re-finance. refinance??? Dont you have to have equity for that, how about a job contract that wont end in 2 weeks? Did he even OPEN the hardship…Continue