Ark Law Group Blog
Short Sale, Loan Modification & Foreclosure Solutions
What Happens With a Mortgage Service Release?
By Ark Law Group

How Does A Service Release Impact You And Your Mortgage? When you borrowed money to purchase your house, the cash paid to you probably didn’t come from the lender or bank that worked with you. Instead, the money came from an “owner” or “investor.”

2 Reasons Lenders Make High Short Sale Counter Offers, How to Dispute Them
By Ark Law Group

If you submit a short sale offer to a mortgage lender that you know is reasonable, it can be discouraging to get a high counter offer back. Don’t give up! Amanda and Mary Beth will tell you what to do in this brief video on value disputes.

How to Get the Best Broker Price Opinion (BPO) for Your Short Sale
By Ark Law Group

How to make sure your BPO is the right number for your short sale.When you request approval of a short sale from your lender, your mortgage holder will get a Broker Price Opinion (BPO) to help them determine the value – or appropriate selling price – of the property.

How to Handle the Banks’ High Counter Offer on Your Short Sale
By Ark Law Group

Strategies to Handle a High Counter-OfferIn today’s changing market, investors, particularly Fannie Mae are countering short sale offers well over Fair Market Value.  New terrain? Perhaps, but here are some strategies for overcoming value disputes. 

HELOC Resets Will Pressure the Economic Recovery
By Ark Law Group

HELOC Resets Will Pressure The Economic RecoveryOne pressure point coming to light in the up-and-down housing recovery is the reset awaiting millions of Home Equity Line of Credits taken out during the housing boom of the mid 2000s. A big shift is set to occur – and the question keeping analysts guessing is the impact it will have on millions of homeowners and the economy overall.

Underwater Homeowner Avoids Foreclosure on Her Renton, WA Condo - Bank of America Forgives $46,000 in Mortgage Debt!
By Ark Law Group

How to Avoid a Short SaleAfter moving out to care for her ailing grandmother, Susan, a full-time student, could no longer afford the mortgage payments on her Renton, WA, condo.

Continuing Foreclosure Crisis for African-Americans and Latinos a Result of Discriminatory Predatory Lending
By Ark Law Group

Foreclosure CrysisSubstantial differences in lending practices by community are documented in a new report, Underwater America, published by the UC Berkeley’s Haas Institute for a Fair and Inclusive Society. In the end, African-Americans and Latinos have suffered more negative effects as a result of the financial crisis, and are not experiencing the same level of financial recovery as higher-income and white-dominated neighborhoods.

Foreclosures Are Unexpectedly Back on the Rise - a Sign of Yet Another Foreclosure Wave Ahead?
By Ark Law Group

Foreclosures Are Unexpectedly Back on the RiseHere’s something we didn’t see coming: Foreclosure rates have been falling every month since last October - but this trend unexpectedly reversed in May. Black Knight Financial Services released their Mortgage Report for the month of May this morning, and it shows that foreclosures are back on the rise. In May, the number of foreclosure starts was up by 9.5% compared to the previous month.

Did You Get a Notice of Trustee Sale or Sheriff Sale?
By Ark Law Group

Notice of Trustee SaleIf your home is going through the foreclosure process, it is likely that you have received a Notice of Trustee Sale or Notice of Sheriff’s Sale. Issuing a Notice of Trustee Sale (NOTS) or a Notice of Sheriff’s Sale is one of the key steps that your lender or creditor will take during the foreclosure process.

Real Estate Liens - How They Impact Foreclosure
By Ark Law Group

How Real Estate liens Impact ForeclosureProfessionals in the real estate and finance industry use a lot of terms that may sound foreign to regular people. If you don’t understand the terms, it gets pretty hard to understand the process, and even harder to figure out what your options are. So I want to talk today about a topic that many homeowners find confusing, and which actually is very simple: real estate liens, and what liens mean to the foreclosure process.

Trying to Help Her Louisiana Relatives Displaced by Hurricane Katrina - This Tacoma, WA, Homeowner Got Rid of the House She Couldn’t Afford Through a Short Sale
By Ark Law Group

Getting Rid of a House You Can't Afford Through a Short SaleAlissa, from Tacoma, Pierce County, WA. She bought her large home in 2005, to accommodate relatives displaced by Hurricane Katrina. But when they returned to Louisiana, she could not afford the mortgage on her own.

It's Not Over Yet: New Nationwide Stats on Home Equity and Underwater Mortgages
By Ark Law Group

Nationwide Stats on Home Equity and Underwater MortgagesTwo recently released reports provide us with the latest national stats about equity and underwater mortgages in residential real estate across North America. Although fewer homes are underwater with their mortgages than a year ago, there are still over 6 million homes in negative equity across the nation. And a new neighborhood-based nationwide analysis shows that people of color - African Americans and Hispanics - are among the communities still suffering most from the on-going effects of the financial crisis.

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