Here is a link to the Bank of America Third Party Authorization form. AUTHORIZATION FORM (Working with a third party) Account No.: ______________________ I hereby authorize Bank of America, N.A. to discuss my request for payment assistance with the individual(s) that I have identified below as my designated agent(s) (hereinafter the “Designated Agent”). […]
Read More →Mortgage Applications Decrease in Latest MBA Weekly Survey | Mortgage Bankers Association https://www.mba.org/2020-press-releases/march/mortgage-appl . . .
Read More →Mortgage Reit Meltdown Some Mortgage Reits have lost more than 80 percent of that value in just a few weeks. Are these Reit telling something about where the price of homes will be in a few months? Here a CNBC expert explains a little bit about what is going on.
Read More →Home Owner Lines of Credit may be pulled I remember this form 2008 ish… https://en.wikipedia.org/wiki/Home_equity_line_of_credit HELOC freeze In 2008 major home equity lenders including Bank of America, Countrywide Financial, Citigroup, JP Morgan Chase, National City Mortgage, Washington Mutual and Wells Fargo began informing borrowers that their home equity lines of credit had been frozen, reduced, suspended, rescinded or restricted in some other […]
Read More →If your senior lender forecloses on you property in California. The junior lender no long has security to foreclose upon. Junior lenders with no security are called sold out Juniors. Sold out juniors may be able to proceed against you to collect the balanced owned plus costs and fees. If you have two loans talk […]
Read More →Security First Rule Under California real estate law California courts have decided Lenders must foreclose on the property security your loan rather than going after you personally on the promissory note. One of the more well known cases where this is discussed is Walker V. Community Bank https://www.casemine.com/judgement/us/5914c6bdadd7b049347dd63e Note to California Property owners. If […]
Read More →California’s One Action Rule California Code of Civil Procedures Section 726(a), 726. (a) There can be but one form of action for the recovery of any debt or the enforcement of any right secured by mortgage upon real property or an estate for years therein, which action shall be in accordance with the provisions of this […]
Read More →California Code of Civil Procedure C.C.P 580b. (a) Except as provided in subdivision (c), no deficiency shall be owed or collected, and no deficiency judgment shall lie, for any of the following: (1) After a sale of real property or an estate for years therein for failure of the purchaser to complete his or her contract of […]
Read More →The California Association of Realtors Just Crafted a Corona Virus Addendum. We recently reported that some lenders have given notice to borrowers that they will not be funding laws because the non-QM market has seized up. This addendum may deal with these funding type problems going forward. Make sure you understand this form before […]
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