QR codes (like barcodes) can be read by free applications for smartphones. Scanning the code will pull up the property details sheet.
Thanks Andrew! That is stepping up. You have now provided some specific info that sounds promising, and I will google "DU Refi Plus" or "Freddie Mac's Relief Refinance" to see what those programs are about and who can qualify.
Lenders, please step up... I was really hoping for a good answer here. Isn't money still tight because of all the restrictions on mortgages these days? Won't a new mortgage, refi, home equity or any other type of financing require a new appraisal on the collateral?Amamdani is saying he has a home valued at $305,000 (based on current appraisal? tax assessment? broker opinion?) and he owes $338,000. That makes him "upside down" in his mortgage by $33K, and he "needs" to lower his payment/s. We also have to assume he doesn't have the $33K to pay the deficit.Also assuming he wants to keep his good credit score and not intentionally default on his financial obligations (walk away & dump the house on the lender), is there ANY type of help or government program out there that can help a responsible borrower? We know there are some programs that help irresponsible or distressed borrowers.
In a short sale, it is the property owner/seller who accepts the offer, then presents it to the bank for their acceptance which then starts a potentially lengthy process. Some lenders in a short sale will not even look at offers... and may not even start the short-sale process with the seller until the seller presents a ratified (accepted) offer. "Cash is King," but it doesn't rule over everything. In this case, you may not have known how close to foreclosure the seller was, so the better *terms* for the seller were undoubtedly the guaranteed, faster closing at an amount that would not leave the seller with a deficiency judgement.