Ed Clements's (rchmd19) Blog

As most of you know Gov. Brown signed a bill making it impossible for second lien holders to file a deficiency judgment against a borrower who short sales their home. I asked an attorney if this includes seconds in collection. He replied, it doesn't matter who holds or is servicing the loan they ...

Everywhere you look home prices are being reduced as owners try to entice the few buyers out there to look at their home. I wouldn't be surprised to see 10 to 20% drops across Orange County. There is good news as summer approaches the number of buyers should increase. While that may not drive pri...

Fannie Mae is introducing the Deed-for-Lease Program (D4L), D4L allows qualifying borrowers of properties transferred through Deed-In-Lieu of foreclosure (DIL) to remain in their home for up to 12 months in conjunction with a DIL. To qualify for a DIL you must be able to provide a marketable titl...

Monthly Gross Income Lenders are no longer required to verify a borrower's financial information or to determine if the borrower's total monthly mortgage payment exceeds 31 percent of the borrower's monthly gross income. It is up to the individual lender or investor, they may still ask for financ...