Short Sale program flops

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Can short sale flips be flops? On June 10, 2010 Bloomberg Businessweek posted an interesting article about short sale fraud, short sale flips, and short sale flops.. Short Sales Flips, Flops.

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“There’s more risks and uncertainties surrounding this program and that loss could be larger for longer,” he said, referring to the rice buying. At least four bond sales to fund the rice purchases.

Or he could convince the bank to approve a "short sale" for less than what’s owed on the mortgage-in which case the bank, to cut its losses, generally forgives the difference between what’s owed and the sale price. Those are all legitimate choices. The transaction becomes a "flop," however, when Harry gets greedy.

Mortgage data aggregator CoreLogic has launched a monitoring program designed to help lenders detect short-sale "property flops" by alerting them when there’s more than one loan application.

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executed sales contract and requests a short sale prior to Chase sending an SSN. home affordable foreclosure alternative (HAFA): A part of the Making Home Affordable (MHA) Program that provides financial incentives to borrowers and Chase for utilizing a short sale or Deed-in-Lieu to avoid a foreclosure on an

We are opening our doors for a short time in order to bring on deal partners for our short sale business. We are offering a 50/50 split on deals, and we will help you work them!

Former real estate sales associate faces 150 years for Florida mortgage fraud The information and notices contained on The california real estate fraud report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California.

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