Category Archives: Mortgage
Freddie Mac Mortgage Exclusionary List
You’ve found yourself on the Federal Home Loan Mortgage Corporation (“Freddie Mac”) Exclusionary List (the “List”), and now Freddie Mac, Fannie Mae (Federal National Mortgage Association), and most other lenders won’t allow you to participate in loans where either party has a Freddie Mac or Fannie Mae program loan. How did you get on… Read More »
Can I Get A Mortgage Loan Modification Without Providing Documents?
The simple answer is “no, you are unable to get a mortgage loan modification without providing documentation.” People who refuse to provide documents to the bank fall into one of three categories:(1) unable to provide documents because the documents do not exist – these are people who keep poor records, (2) unable to provide… Read More »
What Is Mortgage Priority In Florida?
We had a great question about mortgage and lien priority come in from one of the Yesner Law Podcast listeners: “I bought property at a foreclosure auction. The foreclosure was filed by the second mortgage and the first mortgage was never notified or included as a defendant. Now the first mortgage is about to… Read More »
What Option Is Better: Loan Modification Or Chapter 13?
We recently posted a blog describing options for when the homeowner having mortgage problems wants to sell the property, but what about the homeowner who wants to keep the property? Those homeowners have options too! The best options for a homeowner who wants to keep the house are to reinstate the loan, refinance the… Read More »
What Option Is Best: Short Sale, Deed In Lieu Or Foreclosure?
When facing a mortgage foreclosure, or even the possibility of a mortgage foreclosure, borrowers should ask: “What options are best for me and my family?” At Yesner Law, we will take time to explore these options for free with a concerned homeowner, whether they are in foreclosure, on the path to foreclosure, or see… Read More »
Short Sale And Loan Modifications: What Is A “Hardship?”
“Hardship” when negotiating a short sale or loan modification are circumstances that demonstrate a drop in income or an increase in expenses. One of the questions we are asked most frequently is “Do I qualify for a short sale or loan modification?” The answer depends on the homeowner’s hardship. The most common examples of… Read More »
Buyer Beware When Buying Foreclosure Properties In Florida
Real Estate investors who buy mortgage foreclosure properties at the court house auction often ask us questions about the protecting themselves. Unfortunately, many ask too late. They fail to realize that for the cost of about a year’s worth of air conditioner filters, they can perform a title search to protect their investment, or… Read More »
How Has TRID Affected Mortgage Lending?
As of this entry, mortgage lending has been impacted by TRID for approximately six months. Now that we have had some time to process TRID, what are some of the changes it has caused within the title industry? First, however, a little background. The Consumer Financial Protection Bureau (CFPB) was created by the Dodd-Frank… Read More »
Top Myths About Home Equity Lines Of Credit
Home Equity Lines of Credit (HELOC) are useful for: (1) avoiding mortgage insurance, (2) paying for improvements to the property, and (3) paying down car loans, credit card bills, medical debt or other debt. We often hear these three myths when consulting with clients who have a HELOC. Myth #1 – A HELOC is… Read More »
