February 2009

My Irvine Home, Loan Modification can it help? Question: Can a mortgagee qualify an asset for the Loan Modification option when the mortgagor is unemployed, the spouse is employed, but the spouse name is not on the mortgage? Answer: Based upon this scenario, the mortgagee should conduct a financial review of the household income and [...]

Loan Modification, can it save my Irvine home from Foreclosure? Question: Is the mortgagor eligible for the upfront premium refund at payoff of a modified loan? Answer: It depends upon when the closing date occurred. For assets closed: After July 1, 1991 but before January 1, 2001, the 7-year unearned premium refund schedule shown in [...]