Helpfulinvesting.com

Okay, so some reports are floating around the web today that GMAC has put a kibosh on all foreclosures, both pre-foreclosure properties and bank-owned properties on the market.

The reports are stemming from a memo telling GMAC to have all brokers and agents stop everything in its tracks.  No more evictions, no more cash for keys, and even giving the earnest back to buyers in contract on properties.

According to other articles I’ve read, GMAC only wanted to audit their…

On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into what many of today’s buyers’ lenders are requiring on your short sale acceptance letters, in order to finance a short sale purchase transaction. Listen in to see what McCue Mortgage is requiring from Bank of America and CitiMortgage. We also cover what line to put a 2nd lien holders payment on a HUD-1 settlement statement to satisfy a 1st mortgage, why you can’t change a Bank…