Tell your customers and you may be thanked over and over!
In an agreement with the Attorney General's office in MA, Goldman Sachs will totally write off ALL second loans on property in the commonwealth that at are 180 days or more in delinquent! If you have a second mortgage that Goldman Sachs was or is involved with, you could be getting an early Christmas present!
Other loans will be reducedand there are even instructions that GS has to help borrowers work out agreements when a second lender holds a note on the same property! The attachments that describe which loans are on the list were not included in the 8 page document I read, but it must be somewhere.
If you have a loan, check to see if Goldman Sachs was involved. You could be much better off than you think.
If you don't have a GS loan, I am wondering what factors created such an agreement and what other lenders will be working similar agreements.
Here is the link to the 8 page agreement. If it gets taken down, I saved the .pdf file.
http://www.mass.gov/Cago/docs/press/2009_05_07_goldman_settlement.pdf
Happy real estate !
Heath Coker, Owner of Cape Group Real Estate
www.CapeGroup.com / capegroup@capegroup.com
508-548-8888 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup
REindex.com, The Site Engine®
508-495-1000 reindex@reindex.com
See our 2 Minute YouTube www.REindex.com/WhatIsREindex.html
@RealEstateIndex
Interesting settlement. Thanks for putting it out there!