Loan Modification

FTC MARS Exemption:Good Or Bad For Short Sale Agents?

July 28, 2011

FTC Issues Stay On Enforcement Of Certain MARS Provisions The Federal Trade Commission (FTC) recently issued a statement that it would no longer enforce several provisions of the widely scrutinized Mortgage Assistance Relief Services (MARS) Rule. The MARS Rule required all real estate agents working on short sales to make certain disclosures to homeowners as […]

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Short Sale Tax Consequences: Understanding The Qualified Principal Residence Exemption

March 24, 2011

Mortgage Forgiveness Debt Relief Act and Short Sale Tax Consequences

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Are Realtors Subject To The FTC MARS Ruling?

February 25, 2011

As a real estate professional that exclusively handles Massachusetts Short Sales,  I continue to receive numerous inquiries about the Federal Trade Commission’s (FTC) Mortgage Assistance Relief Services Act (MARS) that went into effect January 1, 2011. I work with real estate agents on a daily basis and depend on them for a large portion of […]

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Proposed Settlement To Force Lenders To Pay For Principal Loan Reductions

February 24, 2011

The Wall Street Journal is reporting that The Obama administration is trying to push through a settlement with the major loan servicers that could force America’s largest banks to be on the hook for reductions in loan principal worth billions of dollars.  News of the proposed settlement is noteworthy because it would be the first […]

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Homeowner Beats Bank of America in Small Claims Court

January 6, 2011

A California homeowner sued Bank of America(BOA) in Small Claims Court after they denied his modification request and initiated the foreclosure process. Dave Graham, who lives in California, applied for a loan modification under the Obama administration’s Home Affordable Modification Program (HAMP), which is supposed to give eligible borrowers a “permanent” five-year modification if they make […]

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