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loan modifications: Congressional help on a "PROBLEM" Short Sale! - 05/19/12 09:51 PM
Using Congressional help on a "PROBLEM" Short Sale! It never hurts to try!
Using your Congressional influence to get a bank to listen to you and help your homeowner is not a bad idea. In fact, it is one of the best ones I've heard lately. Taking the Congressional Route can be a powerful tool although there is still no real guarantees - but it just never hurt to try!
Some banks do not want any type of attention brought to them and by having your local Congressional representative's office contact them and know what they are talking about from a … (2 comments)
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loan modifications: Be in the know... YES you will have to disclose your income (HARP 2.0 Program) - 01/07/12 06:49 AM
Fannie Mae is showing good faith in that they are trying to come up with solutions to help the troubled homeowners "save your home". However, they are not going to let you get off scott free. They do have some rules that many may think are not fair but if you want the help - you will need to know what the rules are and follow them - or you will get denied!
The question is: Do you have to disclose your income in order to be considered for the HARP 2.0 program. The answer is:
Yes, you must report … (2 comments)
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loan modifications: House is listed... Can I qualify for New HARP (2.0) Refi Program? - 01/07/12 06:13 AM
With the new HARP program up and running now, I believe this will be a huge question coming from homeowners that presently or was thinking about listing their home for sale. Of course, we know that most listings are short sale listings - this question will be asked by all.
The answer is: Yes. Although Fannie Mae policy prohibits the refinancing of homes that are currently listed on the market, this policy can be waived for Refi Plus transactions (manual or DU).
Some other questions which are just as important will be asked. Follow my post, I will try to get … (0 comments)
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loan modifications: "Flourishing your Business" is good business direction! - 11/12/11 04:59 PM
Although short sales are seemingly going to be around for a long time - why not add more "meat" to your business and check out what other opportunities are out there for you to take advantage of.
If you are in the Central Valley and you are looking for ideas on how to "water" your business so it will flourish. This is a good way to help jump kick your business for the coming year. Help it grow! If you are interested in how you can better serve the homeowners that are your clients or that you want to be your client. … (2 comments)
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loan modifications: Are the banks homeowners - like a vampire is to blood? - 08/14/11 10:42 PM
Is it fair to lead on the homeowners? And do you think this is happening? The question that I have is - are the banks sucking the home-life out of homeowners and loving it?
I can say that I have spoken to several homeowners that are saying they are talking to their lender and have been for months but are not getting an answer one way or the other - regarding their request for a loan modification. Is this fair?
I don't feel it is fair and I know it is wasting time on the clock. The foreclosure process WAITS FOR … (0 comments)
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loan modifications: No Flying Colors! - 06/11/11 02:17 PM
No flying colors!!
After the audit... it was founded that none passed with flying colors. Only the top 3 banks were founded needing "substantial improvement", another six were founded needing "moderate improvement and one slide through and avoided changing it from the BIG 4 to the BIG 3. The only named banks so far are the top 3 banks (B/A, Wells Fargo and JPMorgan). This announcement ends a 19-month threat to do something to punish or try to stop the madness that is going on with unfairness and unethical and heartless practices.
These banks that were audited were some of the … (2 comments)
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loan modifications: Well if we get the elphants out of the housing market... wouldn't it improve? and is that possible? - 05/27/10 03:49 AM
Check out this article and you tell me if there is a elephant in the room! I mean its not secret that Fannie Mae is Freddie Mac's sister in the business world, but who brought on the white elephone in the room? I mean do we have room for all that is going on between the relatives of Fannie and Freddie?
IF you blinked, you might have missed the ugly first-quarter report last week from Freddie Mac, the mortgage finance giant that, along with its sister Fannie Mae, soldiers on as one of the financial world's biggest wards of the state.
… (16 comments)
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loan modifications: HAMP (Home Affordable Modification) - how is it working in your state? part I - 11/28/09 11:54 AM
How is the Making Home Affordable Program working in your state? My next post will list the lender servicers that are participating in this program. Agents that are doing short sales should be able to use this information to give the homeowner an idea of how the program is coming along and how this can fit into the options that are out there.
This is top 11 states that are involved in the HAMP - loan modification program:
Want more information go to: http://www.makinghomeaffordable.gov/docs/MHA%20Public%20111009%20FINAL.PDF
HAMP - Participating servicers:
Approximately 85% of eligible mortgage debt outstanding is covered by HAMP participating servicers. … (2 comments)
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loan modifications: Let's go slog through the red tape.... put your boots on! - 05/22/09 04:01 AM
The big buzz word nowadays is "loan modification". When we talk to someone we tell them to go to their lender and ask for a loan modification. But really what are we doing to that homeowner? Are we giving them false hope? Are we setting them up for a deeper downfall into the "under water hole"?
Some homeowners have been going round and round with their lender trying to get their loan modified. They have had to submit and re-submit their paperwork and still no loan modification in sight. Of course, some would say they are getting a "free" place to stay … (0 comments)
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loan modifications: Got GMAC? You may qualify for a loan modification if.... - 05/11/09 10:52 AM
Thanks to the President's making homes affordable plan - helping homeowners is a Top priority to the proposed changes. GMAC has announced that they are cooperating with this plan is trying to offer plans that will help homeowners stay in their homes. You can get more information by visiting the website: www.financialstability.gov
Here are some of the guidelines to this plan: You may qualify for a LOAN MODIFICATION if:
You own and occupy your home as your primary residence. You are either current, at risk of imminent default, or behind in your mortgage payments, or are in foreclosure or bankruptcy. The unpaid principal balance … (0 comments)
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Rosemary Brooks-The Mother & Daughter Realty Team
Stockton,
CA
More about me…
EMBARCADERO Investments - 866-543-0461
Address: 6777 Embarcadero Drive , Ste. 1, Stockton, CA, 95219
Office Phone: (888) 543-0461
Cell Phone: (866) 543-0461
Email Me
EMBARCADERO INVESTMENTS - the Mother and Daughter Realty Team. A Realtist. We take the extra steps to ensure our clients receive the utmost care! Call 866-543-0461
We represent home buyers and sellers as their exclusive agents in the Central Valley, Bay Area and nearby counties. Your Real Estate Professionals.
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