November 2012 Blog Posts (12)

FNMA Auctions & Blackstone

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 FNMA has made the move to use AUCTION.COM for the sale of pre-forecloses(Trustee sales) and foreclosed properties (REOs) in the Sacramento California area and trhuout California. Auction.com offers a 1% coop fee to Selling Agent/Broker but the liability would out strip the participation. Difficulty in tracking properties that get accepted bids leaves us with a lack of data that would usually been provided by our MLS service.

    Some of the REO have been…

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Added by John Kane on November 26, 2012 at 5:19pm — No Comments

HAFA Short Sale Certification Course, Atlanta, November 30th

Atlanta will be hosting the HAFA Short Sale Certification Course November 30th, Cobb County Board of Realtors.  If you are interested in hosting the HAFA Course in your city please contact me at, info@nsfra.com.  Register online at:…

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Added by Barbra Day Curtiss on November 20, 2012 at 9:57am — 2 Comments

Wells Fargo Short Sale

Just closed a short sale with two loans, both Wells Fargo, and surprisingly not  Fannie Mae or Freddie Mac supported, and with both Federal and State tax liens to lift.  It was a brain drain, but closed with a little financial help to the seller, too, in less than 4 months.  Cheers to Wells Fargo for their cooperation in getting the job done, although the hoops were  massive and a bit disorganized.  What surprised me was the great cooperation from the Tax Boards, in record time.  The IRS was…

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Added by Josephine Chisholm on November 16, 2012 at 2:29pm — 2 Comments

FannieMae - Consistantly countering at well above fair market value

I have 2 short sales going on right now with Fannie Mae as the investor - in each case they have come back with counter offers that are well over fair market value.  In one case we have a townhome, with an identical unit right next door, in a little better condition, that sold for more then $20,000 less one week ago then FannieMae is countering at.  This is with Bank of America, and I have explained to the negotiator that with that comp out there it is going to be impossible for anyone to…

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Added by Susan Morimoto on November 16, 2012 at 12:16pm — 24 Comments

Is The HAMP Program Considered a Failure?| Carson| Leesa Hammond

According to records HAMP has failed at generating the initial guaranteed 3 to 4 million permanent loan modifications. Actually HAMP has surpassed its one millionth trial or permanent mortgage modification between June 2010 and July 2012. The Treasury reports that 770,834 borrowers either did not qualify for the program during that period, or failed to finish a 90 day trial. Additionally, 229,185 permanent modifications redefaulted after making the first three consecutive monthly payments…

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Added by Leesa Hammond on November 15, 2012 at 6:45pm — 5 Comments

Short Sale Mastermind Webinar - Marie Chung & Vanessa Liddell



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We've have a special one here, featuring Marie Chung, the #1 agent in the State of California along with Vanessa Liddell, a former CDPE trainer who has trained…
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Added by Mike Linkenauger on November 15, 2012 at 1:00pm — No Comments

Short Sale Mastermind Agent Webinar Interview - Joel & Michelle McClintock



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As a member of The Short Sale Specialist Network, we would like to invite you to join our mastermind short sale agent lead generation webinar…
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Added by Mike Linkenauger on November 14, 2012 at 1:00pm — No Comments

Short Sale Mastermind Agent Webinar Interview - Lee Honish



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As a member of The Short Sale Specialist Network, we would like to invite you to join our mastermind short sale agent lead generation webinar…
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Added by Mike Linkenauger on November 14, 2012 at 12:00pm — 3 Comments

THE MARKET HAS RECOVERED, Lawrence Yun and Miss South Carolina CONFIRM



http://shortsalecoach.podomatic.com/entry/2012-11-08T08_00_02-08_00

CALL ME and Get the MONSTER NOW: 858-663-2537

STORY LINKS: …

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Added by Lee Honish on November 8, 2012 at 12:11pm — No Comments

Why Loan Modifications are a bad idea

Why Loan Modifications are a bad idea

In 2009, Congress passed the Federal Mortgage Loan Modification Program called Making Homes Affordable to help stop foreclosures. Under this program, your mortgage must be under $729,500 and have been signed before January 1, 2009. The Federal Government offers grants, loans, subsidies, and other financial incentives to banks who institute this program; however, this program does not guarantee that your Mortgage Lender will…

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Added by Ed Clements - SFR on November 7, 2012 at 2:07pm — No Comments

Help With US Bank

Hello All,

I'm in the process of working a Short Sale with US Bank, but I can't seem to get past the initial call in gate keepers. Does anyone have a phone number or email address for the actual negotiators?? 

Thanks!

Added by Timothy (Tim) Barber on November 2, 2012 at 2:53pm — 4 Comments

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