Added by Michael Collins, CDPE, SFR, BPOR on May 30, 2013 at 5:23pm — No Comments
U.S. Secretary of the Treasury Jack Lew announced today that Treasury is extending the Making Home Affordable Program for another two years. The new expiration date is now set for December 31, 2015.
The program offers help to homeowners through solutions including the Home Affordable Modification Program (HAMP), Home Affordable Foreclosure Alternatives (HAFA), and the Second Lien…Continue
How long after a short sale does a seller REALLY have to wait in order to be able to purchase a property again and qualify for a mortgage? Is it possible to get short sales and foreclosures removed from a credit report? Join Mike Linkenauger, Director of Operations of the Short Sale Specialist Network, along with Randy Cochrane, short sale broker and Credit Expert with United Credit Education Services to discuss common credit myths…Continue
Added by Mike Linkenauger on May 29, 2013 at 3:30pm — No Comments
Added by Michael Collins, CDPE, SFR, BPOR on May 28, 2013 at 10:58am — No Comments
A short sale allows a homeowner to sell a home where more is owed than what it is worth. Unfortunately, many short sale misconceptions have developed. It is important to clarify these misconceptions.
Misconception #1 – Banks would rather foreclose than work with a short sale.
The reality is that the foreclosure process in Florida can be extremely costly for banks. Banks would rather work with homeowners who are experiencing financial hardship and help them…Continue
Added by Ray Garcia on May 22, 2013 at 12:10am — No Comments
Does anyone know any upper management/ contact people in Green Planet Servicing? Please send to firstname.lastname@example.org. I'm having a hard time with them and it's for an Army Sargent with Orders to relocate. Thank you.
Hi folks. There are some major changes taking place in the Real Estate market right now. This article will touch down on the few that I feel are serious issues that will have a negative affect on consumers and agents alike.…Continue
Who are the Top 100 in Real Estate, and what can we learn from them? Harris Real Estate University is re-launching the "Top 100 in Real Estate" website, and inviting you to join us in nominating the top agents, most influential…
Added by Tim Ventura on May 14, 2013 at 12:28am — No Comments
Go to Twitter and request assistance from the Help Team @BofA_Help
They should response within the hour and I have found they really do help get the file moving if you are having problems.
Added by Bob Phillips, CDPE, SFR on May 10, 2013 at 3:20pm — No Comments
I like to stay informed with Freddie Mac and Fannie Mae forever changing guidelines Subscribe to Housing Professionals Outreach News today http://ning.it/11qtoDG
Added by Magda Robles on May 10, 2013 at 2:50pm — No Comments
I've been working on a BOA short sale since last year we've submitted all the requested documents, and can't get an answer from them for an approval, We've had 3 negotiators and none of them have responded to our inquiries any suggestions? I'm also working on another short sale the lender is Nation Star Mortgage this one is going through equator we've submitted all the docs, and can't get any updates.
As of 05/09/2013 there are 13 shorts sales in Casa Grande AZ for sale. In the month of April eight short sale listings closed escrow. Current there are 264 homes for sale in Casa Grande AZ, currently there is less than 5% of the homes listed as short sale in the MLS for Casa Grande AZ. There were 114 homes that…Continue
Added by James Patrick Sanson on May 9, 2013 at 8:50pm — No Comments
Although the housing market is showing signs of recovery, other indicators show the foreclosure crisis is getting worse. In a September interview with U.S. News, Austan Goolsbee, the former chairman of the Council of Economic Advisers, said, “I think there’s a lot wrong in the housing market. If Fannie and Freddie would start enabling people to rent out the vacant homes, that would also help.”
Some interesting foreclosure facts:
1. The mortgage loans which are currently under…Continue
Short sales in Florida occur when a homeowner who can no longer afford to pay for their mortgage may avoid foreclosure and get out of the debt with minimal financial damage by he selling the property for less than the mortgage amount. Since the lender must accept less than what they are owed in order for a short sale to be approved, it is the lender’s decision whether or not to accept the short sale offer proposed by the homeowner. But, there are certain things a homeowner can do to improve…Continue
The ROBO signed documents may create legal trouble for homeowners for years. Mortgage documents are being invalidated by courts in Florida, furthermore, insurers are hesitant to write policies, and judges are blocking banks from foreclosing on certain homes based on the invalid documents. Some law firms are intentionally removing or withdrawing previously filed documents.
The issues with improper mortgage documents that have been labeled as “robo-signing,” have led some of the…Continue
Added by Ray Garcia on May 6, 2013 at 11:40pm — No Comments
Renters are being seriously affected by foreclosures almost as much as homeowners these days. The downfall of the mortgage industry has resulted in millions of foreclosed homes. Most of the occupants of these foreclosed homes are the homeowners themselves, but a great number of the occupants are renters who discover, often with no warning, that their rented house is now owned by a bank, which wants them out.
The usual foreclosed home may have originally been…Continue
Added by Ray Garcia on May 6, 2013 at 11:38pm — No Comments
If you are a South Florida homeowner, and are in foreclosure, you may have trouble meeting other financial obligations besides just your mortgage. Your first step would be to consult a Miami Dade Foreclosure attorney. If however, a final judgment has already been entered and your Miami-Dade County property has a foreclosure sale date, bankruptcy may be an option. If your property has been foreclosed, the lender may proceed with a deficiency judgment to recover the difference between the…Continue
Added by Ray Garcia on May 6, 2013 at 11:34pm — No Comments
A new program called The Home Affordable Unemployment Program has been announced by the Treasury Department, and took effect on July 1, 2010. This new program provides servicers the flexibility to provide assistance to borrowers whose hardship is related to unemployment. According to this new program, when a borrower is unemployed, a HAMP trial period plan or permanent HAMP modification may not be offered to the borrower as the borrower may not have the ability to make the…Continue
Added by Ray Garcia on May 6, 2013 at 11:32pm — No Comments
When negotiating a Deed in Lieu of Foreclosure in Florida be sure to have the lender agree to waive or release you from any deficiency in the difference between the mortgage amount owed and the ultimate market value of the property. This will prevent the lender from suing you in the future for that deficiency. A Deed in Lieu of Foreclosure will provide you no benefit unless you receive a waiver or relase of the deficency.
Ray Garcia, Esq.
Board Certified in Real…Continue
Added by Ray Garcia on May 6, 2013 at 11:28pm — No Comments