Information You Need-Loan Modifications  

This tutorial presents Frequently Asked Questions about Loan Modifications, Outcomes, Prevention Options, How to work with your Servicer, and Effects of foreclosure.

Information You Need: Modification F.A.Q.’s Frequently Asked Questions (tutorial link)
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Information You Need: Short Sales (selling under the mortgage balance)

This tutorial discusses Frequently Asked Questions about Short Sales, Tax Liability, effects of foreclosure, and Options to Stop Foreclosure.

Information You Need:  Short Sales F.A.Q.’s Frequently Asked Questions (tutorial link)

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“Produce the Note” for Judicial and Non-Judicial States

This tutorial discusses a strategy called “Produce the Note” that requires the lender to prove it has the actual authority to foreclose, by requiring it to officially produce the original promissory note in the lawsuit.

Produce the Note Strategy (tutorial link)

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Foreclosure vs Bankruptcy

This tutorial looks at the issues of Foreclosure versus Bankruptcy. Bankruptcy is not a permanent solution to a pending foreclosure, but rather can be used as a stall technique if a Borrower needs to stop foreclosure at the last minute.  It is best to stop foreclosure rather than giving up because it can hinder one’s ability to obtain a job or alternative housing.

Foreclosure vs Bankruptcy (reference link)
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Judicial vs Non-Judicial Foreclosure

One way to stall foreclosure is to ask the lender to prove that it has the actual authority to foreclose by requiring it to officially produce the original promissory note in the lawsuit.  This is more straightforward in judicial states where there is a foreclosure lawsuit.  In non-judicial states, however, where there is no lawsuit, the homeowner has to take the extra steps to file a lawsuit against the party trying to foreclose.

Judicial vs Non-Judicial States (reference link)
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Short Sale Documentation Required by Mortgage Servicer to complete a successful short sale.

Short sale documentation varies by mortgage servicer and it is best to send in exactly what Servicers require – nothing more, nothing less.  The more accurate the file, the more likely the file will be worked and expedited through the process.  Consult this chart for pdf’s.

Short Sale Documents Required by the Mortgage Servicer (reference link)

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