


American Home Mortgage…..what do we do now?
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Real life example #1. One of my pre-foreclosure/short sale Sellers had just agreed, about 10 days ago, to give American Home Mortgage a "Deed in lieu of foreclosure". Well the obvious question is…How is he affected? Can AHM, now that they have filed bankruptcy and are insolvent, still accept his DILOF? I don’t have a clue.
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Real life example #2: Countrywide, as the first lien holder, has just started foreclosure on another of my listings. The 2nd lien holder, again, is AHM. My Seller received foreclosure papers from AHM this week and has 20 days to respond. Well…what does he do now? Does the fall out of AHM buy him more time?
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American Home Mortgage…..what do we do now?
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