Sunday, March 30, 2008

When the refinance of an FHA loan exceeds the maximum CLTV for the FHA guidleines then you are in trouble with the Department of HUD. There is a mortgagee letter regarding CLTV to check out for lender doing fha loans above 100% CLTV.

Experts with CLTV fha loans


Friday, March 28, 2008

You will not discuss this with Housing boom gone bust or any other short sae discussion board for that matter. Why?

Becuase you are the only real estate investor around that dosen't know thi about short sales and countrywide.

Do not click this short sale link.


Saturday, March 08, 2008

Taking a walk around the outside of the lunchroom of Bank of America's loss mitigation department I heard an interesting story by two los mitigators. One of the Bank of America loss mitigators said that they had a short sale that was not going to be approved by the committee unless the seller agreed to sign a promossory note. This was the loss mitigator's job at bank fo america to get the seller to agree to sign the promissory note for the deficiency.

The two loss mitigators were talking and then one of the bank of america loss mitigators started crying that she didn't enjoy forcing sellers to sign promissory notes for partial release short sales at bank of america. The bank of america loss mitigation quota for partial release unsecured notes was killing her day by day. Then it happened. I was shocked!

The senior loss mitigator was hit over the head by the CEO of Bank of America Kenneth LEwis. Ken Lewic the ceo of bank of america took the unsecured note and called the seller and said "you better sign thi unsecured promissory note in the next ten seconds or I will foreclosure your mortgage with the sherriff myself!" The loss mitigator started crying and flailing her arms around looking for the loss mitigation unsecured note that bank of america had already prepared.

I have to stop writing about bank of america's loss mitigation department becuase Ken Lewis is on his way over to play cards with the other loss mitigators at COuntrywide and Litton Loan Services. We're playing for unsecured notes on partial release short sales. Needless to say, the crying loss mitigator won't be there to play for unsecured notes. I will not be there either.

This is a parody of bank of america's loss mitigation department and Ken Lews and the partial release of unsecured promissory notes.

Bank of America Los Mitigation Department secret number will be posted next week.


Sunday, March 02, 2008

Fed up with teh loss mitigation hold music. It had an ad running for Chase's loss mitigation department. Why would Chase have an ad on Litton Loan Services loss mitigation department? Countryode had a loss mitigator that spilled coffee and now works for Inymacs Loss Mitigation department but I hear they don't let him drink anything hot when he is woring short sales. that seems to be a common problem for loss mitigators that work short sales tehse days.