What is a Reinstatement under the Illinois Mortgage Foreclosure Act?
Jun 13, 2009
Reinstatement Defined Reinstatement of the loan is a right given by the Illinois Mortgage Foreclosure Act which allows the Mortgagor (the Borrower) to cure the default by making the lump sum payment ...
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What is a Deed In Lieu of Foreclosure?
May 17, 2009
What is a Deed In Lieu of Foreclosure? A Deed In Lieu of Foreclosure is a voluntary transfer of the property to the Lender in full satisfaction of the amount owed. By accepting the Deed In Lieu of F...
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Short Sales: Simple Definition
May 17, 2009
Short Sale: Defined A Short Sale is the result of a negotiation with the Lender. The Borrower must convince the Lender that it is in the best interests of the Lender to allow a Short Sale to take p...
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Defective Mortgage/Predatory Lending: Yield Spread Premium, ACOLD Issue
May 13, 2009
Conflict Of Interest What is a Defective Mortgage? As you may be aware by now, though the Mortgage Broker who assisted the Borrower in getting the loan was supposed to have been working for the Borr...
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