Pam Marron Home Lending

Destruction Caused by Common Bank Practice of Requiring Underwater Homeowners to be Delinquent for a Short Sale

This white paper was ammended to include information about 3 of the 9 hardships used prior to Nov. 1, 2012, and listed on the August 2012 Uniform Borrower Assistance Form 710.

Effective Nov. 1, 2012, FHFA released guidelines that allow all harships listed on Form 710 to be used to apply for a short sale and underwater homeowners can proceed with a short sale while being current on their mortgage payment.

The white paper shown below (minus added information regarding 9 hardships) was delivered to a staff person by the executive director for Senator Bill Nelson to a member of President Obama’s staff in Tampa, Fl. on April 14, 2012.

2 White Paper Final 6.28.12

 

December 28, 2012 by · Leave a Comment

About Pam

Since 1985 as a loan originator, highly experienced with automated loan approvals on DU, LP, and with USDA GUS systems, thorough knowledge and use of FHA loans including 203K rehab, conventional loans including USDA, Homepath and rehab, and VA loans. After 27 years, I STILL love this business!

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