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USA Short Sales: Why Do Bank Negotiators Break The Rules?

Northeast OH – We had a negotiator at Bank of America try to push us around a little while ago. We’ve studied and analyzed all of the short sale guidelines and rules.

This was an FHA loan and therefore would be governed by FHA’s Short Sale Guidelines. This means that the lender must follow . . . → Read More: Northeast OH Short Sales: Why Do Bank Negotiators Break The Rules?

What is foreclosuregate?

Second: The assertion is made that there was fraud in the inducement in all of these loans, in that there is an implied duty of dealing in good faith in all contracts that was violated by the banks that made knowingly bad loans – which we now have sworn testimony on. While this is not settled by any means, there is currently pending litigation on this point, and if this approach wins, well, then you go – those contracts are voidable. . . . → Read More: What is foreclosuregate?

Great news for short sale sellers- Obama signs tax credit extension and expansion

Congress recently extended the 8000 first time homebuyers tax credit deadline from the end of November to buyers who sign contracts by the end of April 2010.  In addition to this buyers who have owned a home for atleast 5 years are eligible for a reduced tax credit of up to 6500.  The tax . . . → Read More: Great news for short sale sellers- Obama signs tax credit extension and expansion