Brookline Short Sales and Quincy Loan Modifications

The Obama administration is still pushing for lenders to accept short sales and modifications. Working every day with clients who are attempting both loan modifications and Brookline short sales, the latter seems to be more successful.

The Quincy loan modification and Brookline loan modification process is still very backed up with lenders. Some lending departments are handling loan modifications, auto modifications, and credit payoffs all within the same department. Depending on the bank, short sale departments are separate from the modification department allowing processing to be more successful.

The banks have another reason for preferring short sales. Like it or not, many banks believe that if a home owner is in loan trouble now, then what’s that say about their ability to service the loan in the future? Their mentality, for better or worse, is to tighten lending standards and issue loans to new people who are committed to servicing the loan.

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