Hi Everyone,
Wow, what a fantastic class today…so many interesting questions and so MANY questions on Deeds-in-Lieu of Foreclosure. As promised, here’s the follow up:
Here’s some reading material on loan modification plan for people with Pay Option ARMs seeking principal balance reduction.
Here’s the statistical data on Pay Option ARMs and here’s the reset chart. A big thank you to CalculatedRiskBlog who allows me to use his charts in class for educational purposes. Thanks, CR!
Here’s a link to the IRS publication, “Mortgage Forgiveness and Debt Relief Act.”
Here’s an article from the Legal Hotline Attorney Annie Fitzsimmons regarding deficiency judgements and second mortgages. There’s a searchable database of Annie’s articles inside the WA Realtor’s website. Look for her article dated May 15, 2009 on short sales and second mortgage deficiencies.
Some folks were curious about the 3 investor groups that represent buyers who want to buy homes at the foreclosure auction like the one we watched in class..
Those companies are: Vestus, Foreclosure Resolutions NW, and RE Investment Firm.
Here’s my youtube channel in case you want to watch a more recent foreclosure auction where I interview three investors about rumors I had heard that some lenders were cutting the opening bids a few days before the auction.
and here’s the news story about squatters taking over a foreclosed home in Kirkland.
Thank you for coming to class today!