REO PRO

Default Professionals

Hello Realtors, Good morning, my name is Rocco Rishudeo. I have a question does anybody know how to structure a short refi, or did 1 in the past?

Views: 7

Reply to This

Replies to This Discussion

I just did a BPO on one of those and it was the first time I had heard of it.  I believe, according to the client I spoke with, they simply go into a lender and apply.  The lender, at least the one she dealt with, contacted the lender of record, who in turn contacted my BPO company who sent me on my way.  A refi short sale almost seems absurd?  What happens if the market drops further, do they then refi short sale that loan?

Hey Terrance, I think the way it's done, is the borrower have to be up to date with their Mtg. with atleast 650 or higher fico score and occupy the property (primary) the real question I guess which banks does these programs. And what are the name of those Banks?

I don't think all the banks does this program. I know it's approved by Fannie & Freddie. I think it's a great program if home owners are having hardship and want to keep their home. It will create a new avenue in the real estate industry.

Good point.  And you are correct, I did not recognize the lender's name.
I have heard about this programme and have made several calls to differnt banks. But most of them are not familiar about this term. But this is a great programme.

RSS

Send Invitations

© 2014   Created by Jesus (Jesse) Gonzalez.   Powered by

Badges  |  Report an Issue  |  Terms of Service