New Protections from Lenders for Buyers, Home Owners and Sellers

Because of new rules just published by the Consumer Financial Protection Bureau (“CFPB”), homeowners, after years of abuse from their lenders’ mortgage servicing companies,  will now find they’re not being steamrolled into penury. The new rules deliver a black eye to the well heeled mortgage industry and deal with 9 nine major topics: periodic billing statements, interest-rate adjustment

What is A Strategic Bankruptcy? Can I Use It To Prevent The Foreclosure Sale Of My House?

Facing Foreclosure.  Will Filing Bankruptcy Stop the Foreclosure Process? I recently represented 2 sellers in Spenser and Nelson counties in Kentucky whose houses were in the $500,000 range. Both houses were severely "under water", and both were forced to do a short sale. Both used the process of bankruptcy strategically: firstly to stop the foreclosure

Breaking News: Gigantic Pot Of New Cash To Help (1) Homeowners Facing Foreclosure (2) Buyers of Foreclosed Homes

Get That Cash! As part of the National Mortgage Foreclosure Settlement, Mayor Greg Fischer and Kentucky Attorney General Jack Conway jointly announced on July 30, 2012 that $3.2 million of the $19.2 million Kentucky received as part of the National Mortgage Settlement will be used to help rid Louisville of vacant and abandoned properties in targeted

Fire Your Land Lord – New Down Payment Money Available For Buyers!

NEW MONEY AVAILABLE FOR DOWN PAYMENT ASSISTANCE As we reported in an earlier blog, Kentucky Housing Corporation (KHC) received $3,000,000 from the National Mortgage Foreclosure Settlement Fund to offer a new mortgage program for down payment and closing cost assistance (DAP). This program is only available untiul these funds are gone. The terms being offered

Your FHA Short Sale – Step By Step Guide

  The FHA Short Sale Procedures, Step By Step 1) To start an FHA short sale the Borrower submits the short sale pre-offer package to the Servicer of the loan (Bank Of America, Chase, Citi, Wells Fargo, etc). 2) The Servicer processes the paperwork and serves as go between the Investor and the Borrower. The

Some Buyer and Borrower Issues at a Kentucky Closing: Title, Insurance, Smoke Detector

The following is a brief summary of some of the issues buyers and borrowers in Kentucky should be aware of and some timing recommendations – there may be some variations, depending on your closing agent and lender.   1. HOMEOWNERS INSURANCE.  (a)  You must bring to closing your homeowner's fire and extended coverage insurance policy

Short Sale of Multi-family in Louisville Kentucky. NAR Interviews Neil Blumberg

Satisfying 8 Parties to a Multi-family Short Sale in Louisville Kentucky. This material formed the basis for an interview conducted by the National Association of Realtors with Neil Blumberg, broker/owner of Metro1 Realty, and an edited version was published on-line in the NAR’s “Realtor”® magazine in its monthly column, ”How I sold It”. Location: Louisville,