C.A.R. Joins with Fannie Mae to Launch Program to Help Expedite Short Sales…
Added by Gail Mitkoff on March 31, 2011 at 10:43pm —
I recently was reminded that the Debt Forgiveness Act 2007 will expire by 2012..Has anyone heard whether it will be extended? There is no mention of this on the IRS website..granted its 8 months from now but it will have an impact for future short sale clients.
Added by Seth Russell on March 31, 2011 at 6:41pm —
Has anyone completed a BPO for Evaluation Solutions and received payment for work completed??
I recently completed 2 BPO's for this company and have not received payment. I cannot get in touch with any one by phone and I only get automated responses from emails. After doing a little research I have found that they have a bad rep for paying agents. Has anyone had this problem??
Added by Chasiti Scales on March 29, 2011 at 12:52pm —
Monday, March 28th, 2011, 5:03 pm by JON PRIOR, housingwire.com
Bank of America (BAC: 13.20 -1.27%) will begin a new pilot program in the next few weeks, allowing some California homeowners to receive a principal writedown on their mortgage.
The program will be funded from the $699.6 million the California Housing Finance Agency received from Treasury… Continue
Added by Chris B Johnson CDPE,SFR,HAFA on March 29, 2011 at 11:34am —
I thought you might be interested in the latest info on Fannie Mae’s Short Sale Assistance Desk. If you have any questions, please feel free to contact me or Mary_a_Tangredi@fanniemae.com.
• California Association of Realtors Recorded Demo: http://proxy1.car.org/josh
• Press Release Announcements:
My Florida Regional MLS Now Offering Fannie Mae Short Sale Assistance Desk to its Members
• PR Web:… Continue
Added by Gail Mitkoff on March 28, 2011 at 10:33pm —
Ventura County CA – Many people are shocked that it is often cheaper to short sale and rent that staying in your home with a loan modification. Continue
They find it hard to believe that they can rent a comparable or even nicer home for less than their mortgage. Here are the two factors that make it possible.
Many homeowners bought homes for more than they are selling for today. A perfect example is a homeowner that paid $150,000 for a home. His mortgage payment was around $1,500 a…
Added by Chris B Johnson CDPE,SFR,HAFA on March 28, 2011 at 8:15pm —
Added by Paul Nelson on March 28, 2011 at 12:56pm —
MARKET COMMENT Mortgage bond prices fell last week pushing mortgage interest rates higher. Stocks generally showed strength throughout the week, which didn’t help mortgage bonds. Reports of Japan stabilizing their nuclear facilities resulted in a reversal of the earlier flight to quality buying of US debt. New home sales data came in weaker than expected which helped rates bounce back a bit mid-week. Unfortunately Fed Official Plosser’s comments Friday afternoon sent bonds falling… Continue
Added by Kenneth Bargers on March 28, 2011 at 7:39am —
Added by Rob E. Kirchner on March 27, 2011 at 10:09pm —
Has anyone read the article on CNBC about the largest mortgage companies are considering cash for keys program up to 21,000. In your opinion, how will this have an impact on short sales? Secondly, what will banks do to dispostion those properties?
Added by John Taylor MBA,CSP,HRC on March 26, 2011 at 7:49pm —
Why are Goals Important? -
On the best sunny day, the most powerful magnifying glass will not light paper if you keep moving the glass. But if you focus and hold it, the paper will light up. That is the power of concentration.
A man was traveling and stopped at an intersection. He asked an elderly man, "Where does this road take me?" The elderly person asked, "Where do you want to go?" The man replied, "I don't know." The elderly person said, "Then… Continue
Added by Judith Boggio on March 25, 2011 at 11:23pm —
Inspirational Confidence Story - Abraham Lincolon
by Catherine Pratt
Did you know that Abraham Lincoln had two business ventures fail, lost 8 different elections and had a complete nervous breakdown before becoming president in 1816? His story is a great inspirational confidence story in that he shows how if you just keep moving towards your dream, you will eventually make it.
Abraham Lincoln overcame great setbacks and obstacles on his journey. Take a… Continue
Added by Judith Boggio on March 25, 2011 at 1:48pm —
By Marcie Geffner, On Wednesday March 23, 2011, 6:00 am EDT, Bankrate, Inc., Yahoo Finance.
Mortgage borrowers who are turned down for loan modifications may now get additional information that could help them understand why they didn’t qualify under the so-called “HAMP test.”
Until recently, borrowers weren’t privy to the data used to perform the Home Affordable Modification Program’s, or HAMP’s, “net present value” test. But as of Feb. 1, loan servicers… Continue
Added by Chris B Johnson CDPE,SFR,HAFA on March 24, 2011 at 12:12pm —
Ventura County CA – Hereis something that drives inexperienced short sale agents crazy. It is a HUD-1, also called a HUD. HUD is the Federal Agency, the Department of Housing & Urban Development, also called HUD. Continue
A HUD-1 is a document regulated by HUD. It is the financial accounting for a real estate sale. Here is why it is important to a short sale.
Before a short sale lender will accept a short sale, they want to know what they will net from the…
Added by Chris B Johnson CDPE,SFR,HAFA on March 22, 2011 at 12:00am —
This is my first post on the SSSN. The tools of real estate are changing fast and it's hard keeping up! I really look forward to this being a business tool, but also meeting other like-minded people who have a passion for real estate.
Please feel free to contact me, I always enjoy learning and sharing from others. I have been in the industry approximately 10 years with Century 21, and since then have recognized as the top producer in the office… Continue
Added by Luis Hong on March 21, 2011 at 12:50pm —
As the banking industry and their allies in the regulatory apparatus and the traditional media continue to downplay violations of law in the foreclosure fraud crisis, you get the feeling that they can no longer fool themselves. Separate and apart from the…
Added by Jorge Newbery on March 21, 2011 at 12:00pm —
MARKET COMMENT Mortgage bond prices rose last week helping mortgage interest rates improve. Flight to safety buying of US debt instruments helped rates improve as the Japanese stock market struggled. Oil prices eased a bit early in the week. However, clashes in Saudi Arabia Thursday sent prices back above $100/barrel. Core inflation readings remained relatively in check however the headline figures exceeded expectations. The Fed’s recent statement noted “short-term” increases in… Continue
Added by Kenneth Bargers on March 21, 2011 at 11:28am —
Ventura County CA – It always amazes us when we hear the stories of agents who talk about horrible short sales are. “Don’t waste your time on a short sale”, they tell homeowners. Continue
“They are a waste of time. The lenders won’t approve them and the process is horrible. The last short sale I worked on took 9 months”, they say.
This gives short sales a bad name. Homeowners mistakenly believe that a short sale is impossible. We are here to tell you that is not…
Added by Chris B Johnson CDPE,SFR,HAFA on March 18, 2011 at 11:53am —
According to the Philadelphia Inquirer , Patrick Rodgers of West Philadelphia was able to "file a foreclosure action against Wells Fargo.
I bet there are a lot of homeowners facing foreclosure that would love to do the same thing. You work so hard to negotiate a reasonable loan modification in order to keep your home.
But, no one at the lender seems to care. It seems the big lenders are able to live in a protective bubble. They can foreclose on paid off homes and face no… Continue
Added by Chris B Johnson CDPE,SFR,HAFA on March 17, 2011 at 6:08pm —
What is a short sale?
A real estate short sale is a form of agreement between the seller of a home in the
beginning stages of foreclosure and their lender, allowing the home to be sold for less
than the existing loan balance outstanding. The mortgagee would accept less than
the loan amount in order to avoid a foreclosure proceeding. This short sale would
result in a substantially discounted purchase price for…
Added by Tami Winbury on March 17, 2011 at 2:22pm —