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Casca.
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June 23, 2008 at 12:39 PM #13110June 23, 2008 at 1:49 PM #227085
peterb
ParticipantDoes anyone out there know about the legally required time a lender has to complete forclosure processes after an NOD has been sent? Or is there any time limit? It seems like NOD’s are comming in big numbers, but REO’s are seriously lagging. I’ve heard rumors that lenders are letting mortgage’s go more than a year in arrears in order to avoid putting the property on to their books. Is there any GAAP rules here? Or can a lender have a non-performing loan on the books indefinately?
June 23, 2008 at 1:49 PM #227198ParticipantDoes anyone out there know about the legally required time a lender has to complete forclosure processes after an NOD has been sent? Or is there any time limit? It seems like NOD’s are comming in big numbers, but REO’s are seriously lagging. I’ve heard rumors that lenders are letting mortgage’s go more than a year in arrears in order to avoid putting the property on to their books. Is there any GAAP rules here? Or can a lender have a non-performing loan on the books indefinately?
June 23, 2008 at 1:49 PM #227210ParticipantDoes anyone out there know about the legally required time a lender has to complete forclosure processes after an NOD has been sent? Or is there any time limit? It seems like NOD’s are comming in big numbers, but REO’s are seriously lagging. I’ve heard rumors that lenders are letting mortgage’s go more than a year in arrears in order to avoid putting the property on to their books. Is there any GAAP rules here? Or can a lender have a non-performing loan on the books indefinately?
June 23, 2008 at 1:49 PM #227241ParticipantDoes anyone out there know about the legally required time a lender has to complete forclosure processes after an NOD has been sent? Or is there any time limit? It seems like NOD’s are comming in big numbers, but REO’s are seriously lagging. I’ve heard rumors that lenders are letting mortgage’s go more than a year in arrears in order to avoid putting the property on to their books. Is there any GAAP rules here? Or can a lender have a non-performing loan on the books indefinately?
June 23, 2008 at 1:49 PM #227257ParticipantDoes anyone out there know about the legally required time a lender has to complete forclosure processes after an NOD has been sent? Or is there any time limit? It seems like NOD’s are comming in big numbers, but REO’s are seriously lagging. I’ve heard rumors that lenders are letting mortgage’s go more than a year in arrears in order to avoid putting the property on to their books. Is there any GAAP rules here? Or can a lender have a non-performing loan on the books indefinately?
June 23, 2008 at 6:56 PM #227308EconProf
ParticipantThis You Tube site for Mr. Mortgage would be a good place to send your friends and relatives who doubt your housing-bearish position. A lot of people too lazy to read the research could watch an 8 minute segment by Mr. Mortgage and become believers.
June 23, 2008 at 6:56 PM #227423ParticipantThis You Tube site for Mr. Mortgage would be a good place to send your friends and relatives who doubt your housing-bearish position. A lot of people too lazy to read the research could watch an 8 minute segment by Mr. Mortgage and become believers.
June 23, 2008 at 6:56 PM #227433ParticipantThis You Tube site for Mr. Mortgage would be a good place to send your friends and relatives who doubt your housing-bearish position. A lot of people too lazy to read the research could watch an 8 minute segment by Mr. Mortgage and become believers.
June 23, 2008 at 6:56 PM #227470ParticipantThis You Tube site for Mr. Mortgage would be a good place to send your friends and relatives who doubt your housing-bearish position. A lot of people too lazy to read the research could watch an 8 minute segment by Mr. Mortgage and become believers.
June 23, 2008 at 6:56 PM #227484ParticipantThis You Tube site for Mr. Mortgage would be a good place to send your friends and relatives who doubt your housing-bearish position. A lot of people too lazy to read the research could watch an 8 minute segment by Mr. Mortgage and become believers.
June 23, 2008 at 10:30 PM #227426SD Realtor
ParticipantThere is not prescribed maximum time by law. I do know for a fact that many distressed properties have the trustee sale date delayed (in some cases many times over) if there is a short sale being considered.
June 23, 2008 at 10:30 PM #227545ParticipantThere is not prescribed maximum time by law. I do know for a fact that many distressed properties have the trustee sale date delayed (in some cases many times over) if there is a short sale being considered.
June 23, 2008 at 10:30 PM #227551ParticipantThere is not prescribed maximum time by law. I do know for a fact that many distressed properties have the trustee sale date delayed (in some cases many times over) if there is a short sale being considered.
June 23, 2008 at 10:30 PM #227589ParticipantThere is not prescribed maximum time by law. I do know for a fact that many distressed properties have the trustee sale date delayed (in some cases many times over) if there is a short sale being considered.
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