RealTown's RealTalk

Hi --
 

Sonda Hilario writes and says, "Be thankful that they disclosed that
the home is in preforeclosure! I had clients who were never told. They
leased the property in December '07 and in May received a notice of
Trustee Sale on their door. THAT definitely should be criminal! The
homeowner had not made a single payment as long as they lived there.
When my clients were asked if they would cooperate with the short sale
of the property they of course refused. They asked the homeowner if he
would just return their deposit so they could move to a new place the
homeowner refused and threatened to evict before the trustee sale or
allow them to stay rent free in lieu of their deposit to cooperate."
 

Given that lenders have a right to decline loan applications, why was
this loan approved? What did the underwriter see that allowed this
loan to go through the system?
 

All the best,
 

Peter G. Miller
Syndicated in 100+ newspapers
www.FHALoanPros.com
www.BestReverseMortgage.com
www.OurBroker.com