The importance of title insurance is becoming crystal-clear in the wake of Bank of America and other lenders allegedly caught in the robosigning scandal. In recent weeks, big lenders like GMAC Mortgage, JPMorgan Chase and Bank of America have halted many or all of their foreclosure proceedings in the wake of allegations of sloppiness,...
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Georgia made the dubious Top 10 list of states with the highest foreclosure sales Q2 At least one quarter of all house sales during the second quarter in Georgia were foreclosure sales. Some 27.4 percent (or 8,379) of all sales were foreclosures, putting the state at #8 for foreclosure sales, according to RealtyTrac. This...
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Bank of America became the latest lender to put foreclosures on hold in 23 states starting October 1, 2010 This action was taken because of concerns that court documents the bank submitted were improperly prepared. Bank of America and other mortgage companies have been under pressure to review their paperwork after employees and contractors...
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Chase Bank is changing their short sale approval process according to a short sale service that works on quite a few short sales with Chase Bank. Generally, when submitting a new short sale package to Chase, you prepare your traditional stack of documents and fax it over with a cover sheet to the fax...
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Arizona sellers, who must sell their home for less than the mortgage balance owed, can be exploited by investors or agents looking for a quick profit—hurting other home values in the process. Homeowners, desperate to avoid foreclosure, are prime targets for short sale fraud because the those sellers and their bank are more likely...
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Laqurdia Tatum was approved for a trial loan modification through Bank of America, June 18th. “I verbally called to be sure that the letter was a valid letter. I didn’t want to be scammed, I didn’t have money to waste. She said, ‘yes ma’am. This is a valid letter from Bank of America,’ recalls...
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