Ar_home_b_search
 



short sales policies: Breaking news on FANNIE & FREDDIE Short Sales Policies - 05/02/11 04:59 PM
I just read this and wanted to pass it on!
Maybe somebody is listening to us agents!
http://theagentinsider.com/uniform-short-sale-standards-coming-for-fannie-mae-and-freddie-mac-short-sales/
 
… (1 comments)

short sales policies: New video to help homeowners in financial distress - 01/17/11 02:27 PM
Fannie Mae has come up with a great video to help troubled homeowners arrive at a next step solution that best fits their situation.  You can view and participate with the video at the following web address:
http://www.knowyouroptions.com/
 
… (1 comments)

short sales policies: Are you in the middle of a B of A foreclosure or short sale? - 10/08/10 02:03 PM
Bank of America halts foreclosures in 50 states!  Check with your negotiator or bank contact to see if this will affect your transaction!
For more info read the full article
 
 
… (5 comments)

short sales policies: CA back in allignment with IRS Cancellation of Debt - Forgiveness Act - 04/09/10 11:30 PM
The Governor has announced he will sign the speedily processed and amended CA debt relief act, helping people that have lost a home to foreclosure or short sales from having the cancellation of debt amount added and taxed along with their ordinary income.  This puts California back in alignment with the IRS, it is also retroactive back to Jan 2009 when we moved away from the IRS policy.  There is fine print, it doesn't cover every situation, so be sure to have YOUR tax preparer review your unique circumstances.
http://www.kcra.com/video/23096308/index.html
Good video for an over view of the process.
… (2 comments)

short sales policies: Would a loan modification help? Did you know you can modify the 2nd, too? - 04/09/10 05:46 PM
The following website explains the process far better than I could parphrase.  It is the official government site so you can rely on the factual information even if the collection department from your bank doesn't explain this is available.
http://makinghomeaffordable.gov/lien_modification.html
If you need help with the process or have decided to sell your home, I would be provide compassionate, caring guidance.  There is no upfront fee or cost for assistance.  Together we can get you through this.
… (0 comments)

short sales policies: HAFA rules took effect April 5th, did you feel the shift? - 04/09/10 05:14 PM
Nothing short of an earthquake in it's sweeping changes of how the servicers will be treating, responding and closing more short sales.  Instead of waiting months for an approval it will be possible to get pre-approved net prices when listing!  All kinds of new software platforms have arrived to handle the volume, no more faxing.  Bank of America is now using Equator (free sign up) formerly Resnet.  This software allows all parties with specific permissions to upload and view documents.  A transparent platform.
Approvals on offers are dictated to be 10 days or lessif the pre-approved process is used.
The forms … (0 comments)

short sales policies: Everything you Know and hate about SHORTSALES is about to change - 12/21/09 03:02 PM
This new federal policy (Supplemental Directive 09-09)takes affect April 5th, 2010, but many are adopting these guidelines earlier.How about pre-approved short sales and 10 response to offers? I wanted to bring to your attention some important details about the recently announced Home Affordable Foreclosure Alternatives program (HAFA), which provides instructions for lenders and servicers participating in the Making Home Affordable Program and Home Affordable Modification Program (HAMP).
The HAFA program will permit PRE-APPROVED SHORT SALE TERMS before a property is listed; prevent servicers from attempting to reduce real estate commissions established in the listing agreement as a condition for short sale approval; RELEASE borrowers … (0 comments)

short sales policies: BofA Short Sales, policy change. The devil is in the details - 08/06/09 08:27 PM
Bank of America (Countrywide, included) has had a major recent policy change in the way they will be handling short sales.  On the face of it reducing the acceptable amount on a junior lien (HELOC) from 10% to 5% sounds real good.  However, read between the lines and the fine print!  Even though California is a non-recourse state on purchase money loans, Terry Francisco VP of BofA said they "Reserve the right to include deficiency judgment language in all their approvals".  In other-words, they will release the lien, but not the debt.  It may come back to haunt the seller for years … (7 comments)

 
Me%20square%20face Rainmaker_large

Cathy Sarmento

Auburn, CA

More about me…

Granite Real Estate "Cool Team"

Address: 1011 Lincoln Way, Auburn, CA, 95603

Office Phone: (530) 823-5783

Cell Phone: (530) 320-5783

Email Me

Real Estate Topics and Tips for Central California Sierra Foothill towns of Auburn, Meadow Vista, Newcastle, Cool Pilot Hill, Garden Valley, Georgetown, Applegate, Weimar, Colfax,Loomis, Rocklin and surrounding areas


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find CA real estate agents and Auburn real estate on ActiveRain.