Lender

The Truth About Loan Modification

by Jon Griffith Loan Modifications

When applying for a loan modification, be prepared to disclose your entire financial life to whomever is negotiating your modification.  If you try to do it, you will fail, unless you are persistent, or insane.  Some attorneys require $3000 up front retainers to even begin negotiating with the bank.  There is no guarantee that it [...]

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Beating the BPO on a Short Sale

by Jon Griffith Short Sales

The BPO is the Broker Price Opinion.  It’s an opinion of the value of a home by a licensed real estate agent, not by a certified appraiser.  Before any home goes on the market, your real estate agent will conduct a Market Analysis of your home, neighborhood and neighboring sub-divisions.  He or she will recommend [...]

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We Don’t Own the Data

by Jon Griffith Real Estate Basics

Arizona Regional Multiple Listing Service made a recent change to their policies and their data.  There were, on the records, about 4750 active listings that had been entered with a checked field.  That field was labeled Lender/Corp Approval which was thought by many to be the best option when entering a short sale into the [...]

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