Fred Martin Blog REO, Short Sales and Loan Modification Information

Fred Martin Team- Century 21 Alpha

Fred and Mario Martin (Century 21 Alpha) — Thu, 24 Nov 2011 20:11:36 -0800

Fred Martin Team- Century 21 Alpha

•25 Years of experience in the Real Estate Business

•Managed over One Billion Dollars of Commercial & Residential Sales

•Past owner of Century 21 Bonus Realty

•REO Broker representing many of the nation’s largest banks & financial institutions

•Head of the Fred Martin Sales Team

•Member of the National Association of Realtors and California Association of Realtors

•Member of the National Association of REO Brokers

•Member of the National Commercial REO Brokers Association

•Member of the United Mortgage Modifiers Association of America

•Certified Mortgage Modification Trainer UMMAA

•Certified Distressed Property Expert (CDPE)

For additional information please go to

http://fredmartinteamc21.blogspot.com/

Proposed Elimination of the Mortgage Interest deduction Dangerous Move

Fred and Mario Martin (Century 21 Alpha) — Sun, 21 Nov 2010 15:03:10 -0800

Proposed Elimination of the Mortgage Interest deduction The home loan mortgage deduction is the last major tax deduction left for a most middle income tax payers. If it was eliminated only the very wealthy would be able to shelter their income. Be that as it may be this move would eliminate a major incentive to buy a home but more important eliminate the reason and in many cases the ability to keep a home.
This proposed tax change by dramatically increasing the cost of owning a home could lead to massive numbers of people walking away from their currently under water homes and a further collapse of our national housing market. Not a way to revitalize the economy and increase employment. We need to increase our productivity and exports and reduce our expenses not completely devastate our housing markets and associated financial institutions.
Fred Martin

See article below

http://firstarkansasnews.net/2010/11/mortgage-interest-deduction-under-fire/comment-page-1/#comment-1416

Panel of top economists (NABE) feel that the US housing market has hit the bottom

Fred and Mario Martin (Century 21 Alpha) — Sat, 16 Oct 2010 10:55:34 -0700

Home prices in the United States found their floor during the early part of 2010 and are expected to begin trending upward next year, according to a panel of elite economists surveyed by the National Association for Business Economics (NABE) for its October 2010 Outlook.

"The housing recovery is intact, but tepid overall. Home prices have hit bottom," NABE stated in its report outlining the survey results.

What do you think?

Bank of America said it's extended its review of foreclosure documents to all 50 states, and will stop all foreclosure sales until its internal review process is completed

Fred and Mario Martin (Century 21 Alpha) — Fri, 08 Oct 2010 16:48:58 -0700

Flickr image courtesy of respres.

Bank of America said it's extended its review of foreclosure documents to all 50 states, and will stop all foreclosure sales until the review is completed.

What effect do you think this action will have pro or con on the national real estste market/

Please share your opinion on this action

WE need to get more aggressive on our national home retention efforts and programs

Fred and Mario Martin (Century 21 Alpha) — Tue, 05 Oct 2010 11:39:42 -0700

WE need to get more aggressive on our national home retention efforts and programs

H.R. 6218, Home Act | Housing Opportunity and Mortgage Equity may be part of the answer

If governmental policy on foreclosure prevention does not change, 11.5 million borrowers are in danger of losing their homes, according to the analysts at Amherst Securities Group LP.

The staggering figure put forth by the mortgage investment brokerage equates to one out of every five borrowers - an astronomical 20 percent default rate that Amherst says "politically cannot happen."

The dire forecast should be a wake-up call to regulators and government officials charged with plugging the nation's foreclosure tsunami, and the analysts at the New York-based firm say they do believe "the government will attempt successive modification plans until something works."

This bill is in my opinion one of the most significant positive pieces of legislation being put forward in a attempt to slow down the ongoing foreclosure crisis facing our nation. Its has many of the components needed to actually slow the ongoing foreclosures and declining prices which now face us all in the immediate future. Currently 30% of all home owners are in a negative equity position and Moody's is forecasting a double dip recession with a 18% additional decline in national real estate values projected.

Loan modifications and short sales will not solve the projected future problem of a nation with 40-50% of its home owners upside down possibly for years to come. Some in the national print and broadcast media are beginning to advise that strategic default for under water home owners may be a wise choice. Further declines in value fueled by the banks plans to rapidly liquidate their "Shadow Inventory" in anticipation of further declines in the market exacerbated by a potential epidemic of strategic defaults would trigger a deep double dip recession or worse. This legislation is the first major step in the right direction over the band aid efforts thus far taken. Nation wide principal reductions may need to be a next step necessary in reaching stabilization. But for now this bill if passed will move us in the right direction

Congressman Cardoza Introduces HR 6218 A bill that if passed my help stop the forclosure crisis

Fred and Mario Martin (Century 21 Alpha) — Wed, 29 Sep 2010 19:24:18 -0700

Just a short note to complement you on the introduction of HR 6218

http://cardoza.house.gov/uploads/The%20HOME%20ACT.pdf

http://www.dsnews.com/articles/new-bill-calls-for-refinancing-of-30-million-gse-mortgages-2010-09-28

http://www.mailtribune.com/apps/pbcs.dll/article?AID=/20100926/BIZ/9260305/-1/biz

This bill is in my opinion potentially one of the most significant positive pieces of legislation being put forward in a attempt to slow down the ongoing foreclosure crisis facing our nation. Its has most of the pieces needed to actually slow the ongoing foreclosures and declining prices
face us all in the immediate future. Currently 30% of all home owners are in a negative equity position and Moody's is forecasting a double dip recession with a 18% additional decline in national real estate values projected. Loan modifications and short sales will not solve the problem of a nation with 40-50% of its home owners upside down with no end in site. Some in the national print and broadcast media are beginning to advise that strategic default for under water home owners may be a wise choice. Further declines in value fueled by the banks attempts to rapidly liquidate their "Shadow Inventory" in anticipation of further declines in the market exacerbated by a potential epidemic of strategic defaults would trigger a deep double dip recession or worse. This legislation is the first major step in the right direction over the band aid efforts thus far taken.

I would strongly suggest that this bill not be limited to just owner occupants since 40% of all current foreclosures are rental properties and that segment of the market can not be ignored without potentially serious negative consequences to our financial institutions and our over all economy. Their may be some minor political issues will helping keep renters in thier homes and the ivestor owners loans from being foreclosed on but a foreclosure is a foreclosure owner occupied or investor owned the losses are the same. The plan in my opinion will not work unless it also includes non owner occupied properties as part of the eligible mortgage pool.

.
Best Regards
Fred Martin
fredmartin@aol.com
Fred Martin
Century 21 Alpha

Urgent Legislative Alert The House version of the FHA Reform Act (H.R. 5072)

Fred and Mario Martin (Century 21 Alpha) — Mon, 21 Jun 2010 21:07:55 -0700

Urgent Legislative Alert The House version of the FHA Reform Act (H.R. 5072)now Contains a Very Dangerous open ended Draconian "Strategic Default" Provision

The "Strategic Default" Provision inserted in this bill has potentially very dangerous implications due to its current complete lack of any definition of what constitutes a "Strategic default" was tacked onto the bill at the last minute would make homeowners who "strategically default" ineligible for an FHA-insured loan in the future.

What is the definition of the Strategic Default" provision of this Bill that could subject potentially millions of Americans to these extreme life time credit sanctions ‘(2) STRATEGIC DEFAULT- For purposes of this subsection, the term ‘strategic default' means, with respect to a residential mortgage loan, an intentional default having such characteristics or under such circumstances as the Secretary shall, by regulation, provide.'.

http://www.govtrack.us/congress/billtext.xpd?bill=h111-5072 Cut and paste to your browser to review a copy of FHA Reform Act (H.R. 5072

The rider was introduced by Rep. Chris Lee (R-New York). " The provision passed in a voice vote, without opposition.

It would require when and if passed by the Senate and Signed by the President that the HUD Secretary devise a strategy for defining and pinpointing "strategic defaulters", and then implement screening procedures to ensure these past foreclosed upon homeowners are not granted an FHA Backed loan in the future

My concern regarding this provision is that it as currently drafted gives the HUD Secretary virtually no guidance as to congress intent and the unrestricted power to severely restrict or eliminate future FHA backed financing and the possibility of home ownership for a large group of American citizens for the rest of their lives without any current limitations or definition of what is a "Strategic Default". This provision could potentially negatively impact millions of Americans who are part of the 25% of the population currently under water on their home loans and looking at a possible foreclosure. Think of the possible social, political and economic implications of this Draconian provision passed by the House also being approved in the Senate without any specific written guidance, restrictions or definitions from our elected officials.

Am I over reacting?

Please take the time now to read the exact wording of the existing house version of this bill. Ask your self What is the definition of the Strategic Default" provision of this Bill that could subject potentially millions of Americans to these extreme life time economic sanctions. Answer the Bill does not contain a definition of what Strategic Default means. Then ask your self how will this bill effect the millions of americans who have lost their homes or are potentially facing a default on their mortgage. Possibly your self or your children, your past and future clients. This provision should be labeled the Law of unknown and unintended consequences.

If the home owner had tried to a loan modification and failed would he or she be a Strategic Defaulter ineligible for an FHA-insured loan in the future.

If the defaulting home owner had been given a high interest rate variable rate loan on their now upside down home which increased to the point that they could no longer afford to keep up their payments and keep their children in College and or make their Medical Insurance Premium Payments would that be a "Strategic Default".

If the home owner had tried to do a short sale and the bank would not agree since their loan was covered by PMI or they would not agree upon the value what then?

If the home owner owed $500,000 on a non recourse first loan on their home and its current market value was $200,000 and tried to do a short sale but the bank would not release without a recourse note. If that home went to foreclosure on the advice of the owners accountant or attorney would that be a Strategic Default" with a life time FHA Credit Ban penalty.

If the lenders holding the foreclosed notes did not make a "good faith effort" to work with the home owner attempting a loan modification or Short Sale including a principal reduction on a home in a area that might be under water for the next 20 years. Would that be a "Strategic Default."

Feel free to use your own imagination to develop a list of all the possible different areas of potential abuse and conflict of interest between lenders and millions of underwater American home owners facing the potential of future foreclosure on their existing homes.

Let's look to the actual wording of the bill passed out of the house to the senate for guidance to see what it says about these issues and my concerns.

HR 5072 RFS

1 SEC. 25. PROHIBITION OF MORTGAGE INSURANCE FOR BORROWERS WITH STRATEGIC DEFAULTS.

Section 203 of the National Housing Act (12 U.S.C. 1709), as amended by the preceding provisions of this Act, is further amended by adding at the end the following new subsection:

‘(z) Prohibition of Mortgage Insurance for Borrowers With Strategic Defaults-

‘(1) PROHIBITION- The Secretary may not newly insure any mortgage under this title that is secured by a 1- to 4-family dwelling unless the mortgagee has determined, in accordance with such standards and requirements established by the Secretary, that the mortgagor under such mortgage has not previously engaged in any strategic default with respect to any residential mortgage loan.

‘(2) STRATEGIC DEFAULT- For purposes of this subsection, the term ‘strategic default' means, with respect to a residential mortgage loan, an intentional default having such characteristics or under such circumstances as the Secretary shall, by regulation, provide.'.

"The FHA reform bill, including the Agency ban on "Strategic Defaulters", has not yet been approved by the Senate.

The National Association of Realtors needs to move rapidly and strongly be sure that this very dangerous Strategic Default Provision is either dropped from the bill or very carefully defined and restricted in the Senate Version to be sure that the purported intent of this provision is the result we all finally wind up with.

Fred Martin

Urgent Legislative Alert The House version of the FHA Reform Act (H.R. 5072)now Contains a Very Dangerous open ended Draconian "Strategic Default" Provision

Fred and Mario Martin (Century 21 Alpha) — Sat, 19 Jun 2010 21:24:46 -0700

Urgent Legislative Alert The House version of the FHA Reform Act (H.R. 5072)now Contains a Very Dangerous open ended Draconian "Strategic Default" Provision

http://www.govtrack.us/congress/billtext.xpd?bill=h111-5072 Cut and paste to your browser to review a copy of FHA Reform Act (H.R. 5072

The rider was introduced by Rep. Chris Lee (R-New York). " The provision passed in a voice vote, without opposition.

Am I over reacting?

If the home owner had tried to a loan modification and failed would he or she be a Strategic Defaulter ineligible for an FHA-insured loan in the future.

If the home owner had tried to do a short sale and the bank would not agree since their loan was covered by PMI or they would not agree upon the value what then?

Let's look to the actual wording of the bill passed out of the house to the senate for guidance to see what it says about these issues and my concerns.

HR 5072 RFS

1 SEC. 25. PROHIBITION OF MORTGAGE INSURANCE FOR BORROWERS WITH STRATEGIC DEFAULTS.

Section 203 of the National Housing Act (12 U.S.C. 1709), as amended by the preceding provisions of this Act, is further amended by adding at the end the following new subsection:

‘(z) Prohibition of Mortgage Insurance for Borrowers With Strategic Defaults-

"The FHA reform bill, including the Agency ban on "Strategic Defaulters", has not yet been approved by the Senate.

Fred Martin

Congress Abandons Critical Housing Programs

Fred and Mario Martin (Century 21 Alpha) — Tue, 15 Jun 2010 17:36:33 -0700

Congress Abandons Critical Housing Programs - Again

Realtors have been urging Congress to pass a comprehensive National Flood Insurance Program reform bill all year. We conducted a Call for Action in April, testified at Congressional hearings and urged action during our midyear hill visits. Yet once again, Congress left town before reauthorizing the NFIP and the Section 502 Rural Housing Program. As a result, thousands of transactions have come to a stop, again.
The NFIP and the Section 502 Rural Housing Program are critically important to Americans and the U.S. economy. The real estate recovery can't afford prolonged Congressional inaction.
Regardless of your location, rebuilding our markets in every corner of America is in every Realtor's interest. The Realtor Party must speak with one voice to urge Congress to renew both NFIP and the Rural Housing 502 program today. Please contact Congress today.

Send a letter to the following decision maker(s):
Your Congressperson
Your Senators

Below is the sample letter:
Subject: Renew Critical Housing Programs: NFIP and RHS
Dear [decision maker name automatically inserted here],
Congress left for the Memorial Day recess, leaving two critical housing programs unauthorized or unfunded. On May 31, authority for the National Flood Insurance Program (NFIP) expired. Lenders have stopped accepting applications for the Section 502 rural housing program, which has exhausted its funding.

Until Congress returns and extends these programs, worthy homebuyers will be left without access to mortgages. Given the many challenges financial and real estate markets are facing, now is not the time to create another, but avoidable, obstacle to real estate transactions. Please do not let this continue.

As a Realtor, I understand the importance of these programs to every region of the nation. A real estate recovery can't survive the uncertainty created by Congressional inaction.

Rural families in every state in the nation rely on the Section 502 single family guarantee program to allow them to repair, renovate and purchase homes, as well as prepare sites with water and sewage facilities.

Today, property owners in every state depend on these programs. Each day the Congress fails to act, thousands of real estate transactions will be delayed and homebuyers and homeowners will be left in the lurch. Upon your return, Congress must swiftly take the necessary steps to ensure the continuation of these critical and essential insurance programs.
Sincerely,

Fred Martin

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What's At Stake:

Until Congress extends NFIP, no new or renewal flood policies can be issued. Without the flood insurance coverage provided by NFIP, thousands of residential and commercial transactions are on hold.
Congress has also abandoned the Section 502 Rural Housing Program. The housing program provides zero-downpayment mortgages to eligible families in rural area of every state. Many of these families signed contracts before April 30th and plan to utilize the homebuyer tax credit. If this program is not restored soon, they will lose their chance.
For detailed information about how to conduct business until Congress acts:
http://bit.ly/b6Un2h

Campaign Expiration Date:
June 30, 2011

What is going on with Real Estate Prices In Silicon Valley Santa Clara County California

Fred and Mario Martin (Century 21 Alpha) — Mon, 14 Jun 2010 17:28:51 -0700

Foreclosures are increasing in the higher end markets in Northern California and prices are coming down in that market segment Not the perfect time to be purchasing a high end property

Our lower priced inventory seems to have bottomed out is currently increasing in price much of it being purchase for cash by international investors They seem to like the fact that they can purchase homes in a politically stable country below replacement cost that will cash flow with 25% down

A double dip recession would seem like a possibility coupled with very high inflation rates and rising interest rates

Both good reasons to invest in well priced leveraged real estate assets with positive cash flow and lock in currently record low long term intrest rates

Report to CAR Public Policy Committee from Mr. Robert Clark Director of the OREA California Office of Real Estate Appraisal recent changes and modifications of the USPAP Rules and Guidelines

Fred and Mario Martin (Century 21 Alpha) — Fri, 11 Jun 2010 19:36:07 -0700

The USPAP COMPETENCY RULE has been significantly rewritten and expanded. The changes did not expand the obligations of the RULE, but were intended to enhance "clarity and enforceability." The rule clearly sets forth the requirements for an appraiser to "exercise proper judgment in assessing his or her competency" when considering and completing an assignment

Follow up report from the CAR Legislative Day 2010 Conference in Sacramento Ca re Report to CAR Public Policy Committee from Mr. Robert Clark Director of the OREA California Office of Real Estate Appraisal regarding recent changes and modifications of the UAPAP Rules and guidelines and California B&P Code Section 11319 regarding appraisers required competency to do appraisals in the State of California.

B&P Code Section 11319 Notwithstanding any other provision of this code, the
Uniform Standards of Professional Appraisal Practice constitute the
minimum standard of conduct and performance for a licensee in any
work or service performed that is addressed by those standards. If a
licensee also is certified by the Board of Equalization, he or she
shall follow the standards established by the Board of Equalization
when fulfilling his or her responsibilities for assessment purposes....

4/22/2010 - OREA is hereby providing notice of changes to proposed regulations that are the subject of a rulemaking action, published on April 23, 2010 in the California Regulatory Notice Register. Changes to the proposed regulations are identified by strikeout and underline notation in the text of the proposed regulations. Comments on the changes to proposed regulations are due to OREA by 5:00 p.m. on June 7, 2010.

The USPAP Competency Rule requires that, prior to accepting an assignment or entering into an agreement to perform any assignment, an appraiser must determine that he or she can perform the assignment competently. To be competent, the appraiser must be able to properly identify the problem to be addressed, posses the knowledge and experience to complete the assignment competently, and be able to recognize laws and regulations that apply to the assignment. Competency can apply to geographic area, market area, property type, or appraisal methodology.

Mr Clark pointed out to the members of the committee that there had been numerous complaints filed in his office against pooled appraisers for accepting and attempting to complete appraisals in areas out of their areas of geographic competency. In many cases this practice was resulting in inaccurate appraisals of value based on the pooled appraisers lack of complete knowledge of the properties in a geographic area out side of their areas of expertise. He pointed out to the committee that under the current and modified USPAP rules a appraiser had a legal obligation under the law to make every effort to educate them selves as to the property values in a area prior to rendering a opinion of value if they accept a assignment. He went on to say that that effort should include communicating with local Real Estate agents in the Area including if possible the listing agent to be sure that they had the benefit of that knowledge and expertise as incorporated into their research. He went on to say that if members of the committee or other Realtors found in their practice that California appraisers were not complying with the new USPAP COMPETENCY RULE that they should be reported to his office for investigation, education and possible fines if appropriate. Complaint forms can be dow loaded if needed at http://www.orea.ca.gov/html/enforcement.shtml

Other possible reportable violations

Violations of USPAP and/or OREA regulations

Technical errors

Inaccurate value conclusion

Fraud

Failure to provide services as contracted

Inappropriate conduct related to an appraisal assignment

As Realtors we should also make every effort to assist out of town appraisers when needed in helping them become educated and informed as to the needed information and details concerning a subject property associated comps and neighborhood data when necessary. -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

In working a a Realtor to assist and help educate a appraiser as may be necessary it is important to be sure that your actions anc communications do not vilolate Section 11323 of the Business and Professions Code,and to add Article 7 (commencing with Section 1090.5) to Chapter 1 ofTitle 4 of Part 4 of Division 2 of the Civil Code, relating to real estate appraisals,

THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

Approved by Governor October 5, 2007. Filed with

Secretary of State October 5, 2007.]

SECTION 1. Section 11323 of the Business and Professions Code is amended to read:

11323. No licensee shall engage in any appraisal activity in connection with the purchase, sale, transfer, financing, or development of real property if his or her compensation is dependent on or affected by the value conclusion generated by the appraisal.

SEC. 2. Article 7 (commencing with Section 1090.5) is added to Chapter 1 of Title 4 of Part 4 of the Division 2 of the Civil Code, to read:

Article 7. Unlawful Influence of Appraisers

1090.5 (a) No person with an interest in a real estate transaction involving an appraisal shall improperly influence or attempt to improperly influence, through coercion, extortion, or bribery, the development, reporting, result, or review of a real estate appraisal sought in connection with a mortgage loan.

(b) Subdivision

(a) does not prohibit a person with an interest in a real estate transaction from asking an appraiser to do any of the following:

(1) Consider additional, appropriate property information.

(2) Provided further detail, substantiation, or explanation for the appraiser's value conclusion.

(3) Correct errors in the appraisal report.

(c) If a person who violated this section is licensed under any state licensing law and the violation occurs within the course and scope of the person's duties as a licensee, the violation shall be deemed a violation of that state licensing law.

(d) Nothing in this section shall be constructed to authorize communications that are otherwise prohibited under existing law.

SEC. 3 No reimbursement is required by this act pursuant to Section 6 of Article XIII B o f the California Constitution because the only costs that may be incurred by a local agency or school district will be incurred because this act creates a new crime or infraction, eliminates a crime of infraction, or changes the penalty for a crime or infraction, within the meaning of Section 17556 of the Government Code, or changes the definition of a crime within the meaning of Section 6 of Article XIII B of the California Constitution.

SEC. 4. This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the Constitution and shall go into immediate effect. The facts constituting the necessity are:

In order to take immediate steps to bring credibility to mortgage lending in California, and to protect consumers and other participants in mortgage transactions from fraudulent and deceitful practices, it is necessary that this act take effect immediately. -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The OREA in this presentation was taking a position that direct informative communication between local real estate agents and appraisers was in the future to be encouraged and in some cases required as a matter of meeting the appraisers professional standard of care and competency when attempting to do a appraisal out side of their area of geographic competency.

This Modification and OREA interpretation of the USPAP rules and guidelines is a good step forward in allowing and encouraging the needed communication between the appraisal community and real estate practitioners to reestablish accurate valuations given the current other complications of the appraisal process.

BY Fred Martin
Century 21 Alpha

Note this blog is not intended to offer legal or accounting advise and is only the opinion of the author

Car Legislative Day 2010 Sacramento Ca Report from Fred Martin

Fred and Mario Martin (Century 21 Alpha) — Thu, 10 Jun 2010 21:39:22 -0700

Car Legislative Day 2010 Sacramento Ca Attended CARS Legislative Day event held At the Capital in Sacramento Ca 6/09/2010 Great event, well organized with a intense informative agenda and several meeting with key member of the legislature Assembly and Senate Key bills discussed were AB1919 Transfer Tax, Appose, SB1178 Anti Deficiency Protections for California Home owners Support Passed Senate Floor and Currently pending Committee assignment in the Assembly. Possible Changes to California's Current Mortgage Interest deductions for home owners Appose any changes or reductions. The day long session included a great lunch at the Sheratan Hotel with including a very informative talk by Phil Giarrizzo Head of a well known National Campaign Consulting Company. Things are changing in the economic and political word every day Its very important for all of us to stay informed and involved in the political process at all levels. You cant count on the idea that they will take care of it. We are all the they that we are all relying on to get the job done and if we don't show up their is no guarantee it will all turn out Ok. Support Car and NARS Political Action through your involvement and donations. Every one is needed to be alert, informed and involved, Surfs Up / Heads Up Fred Martin

Nearly all homes (98%) had formaldehyde concentrations that exceeded guidelines for cancer and chronic irritation..."

Fred and Mario Martin (Century 21 Alpha) — Thu, 10 Jun 2010 20:02:50 -0700

Attaced is a presentation on formaldehyde given in Denver.

Here is a URL to an article in February 2010
www.aihasynergist-digital.org/aihasynergist/201002?pg=32

Here is a URL to the State of CA indoor air quality report.
The California Air Resources Board's report published December 15, 2009 states:

"Nearly all homes (98%) had formaldehyde concentrations that exceeded guidelines for cancer and chronic irritation..."

Summary: http://www.arb.ca.gov/research/apr/past/04-310exec_sum.pdf
Report: http://www.arb.ca.gov/research/apr/past/04-310.pdf
Researcher's PowerPoint: http://iee-sf.com/resources/pdf/ResidentialVentilation.pdf

Here is a URL to several short articles on some of the situtation we have stumbled into
http://www.examiner.com/x-5101-San-Jose-Environmental-Health-Examiner~topic112494-formaldehyde?selstate=topcat#breadcrumb

If you have a property locally that you would like tested let me know. We can work something out.

Let me know if you have any questions.

---------- Forwarded message ----------
From: Linda Kincaid <nanosafety@gmail.com>
Date: Tue, May 25, 2010 at 5:58 PM
Subject: AIHA Presentations
To: Linda Kincaid <condorchick@gmail.com>

Hello All,

Here are final versions of my podium presentations for the American Industrial Hygiene Association conference. They were presented today, so it is OK to distribute the files or reference the content.

Linda

________________________
Linda Kincaid, MPH, CIH
ChemDetection, LLC
20255 Glasgow Drive
Saratoga, CA 95070
(408) 998-4642

Short Sale fraud Two Realtors go to prison for short sale flopping

Fred and Mario Martin (Century 21 Alpha) — Thu, 10 Jun 2010 18:03:23 -0700

June 10 (Bloomberg) -- Two Connecticut real estate agents found a way to profit in the U.S. housing bust: Buy low, sell fast. Their tactic was also illegal.

Sergio Natera and Anna McElaney are scheduled to be sentenced in Hartford's federal court in August after pleading guilty to fraud. Their crime involved persuading lenders to approve the sale of homes for less than the balance owed --known as a short sale -- without disclosing that there were better offers. They then flipped the houses for a profit.

The Federal Bureau of Investigation, the California Department of Real Estate and mortgage finance company Freddie Mac have warned that such schemes may be spreading after a plunge in values left homeowners owing more than their properties are worth. The scams threaten to deepen losses for lenders that are increasingly agreeing to short sales as an alternative to more costly foreclosures.
The link to the source of this Complete Bloomberg article By John Gittelsohn http://www.bloomberg.com/apps/news?pid=20603037&sid=avevHVg0VvHs

THE 33 FACTS ABOUT GLOBAL WARMING By Victor Miguel Ponce professor SDSU

Fred and Mario Martin (Century 21 Alpha) — Sun, 06 Jun 2010 12:31:18 -0700

http://globalwarming.sdsu.edu/

THE 33 FACTS ABOUT GLOBAL WARMING By Victor Miguel Ponce professor SDSU

Great Article

Worth the 3 min it takes to read

Fred Martin

Report from the 2010 CDPE Conference Tempe Arizona By Fred Martin

Fred and Mario Martin (Century 21 Alpha) — Sun, 30 May 2010 13:42:00 -0700

Report from the 2010 CDPE Conference Tempe Arizona

This historic meeting held at the Mission Palms Hotel and Conference Center was kicked off by Alex Charfen CEO and founder of the organization. Alex is a young intelligent friendly charismatic high energyindividual with a mission to help the realtors of this country help home owners save their homes, credit and sanity. There were over 700 real estate agents in attendance from across the United States all looking to increase their knowledge and expertise in the area of helping distressed home owners work their way through today's tough economic times. Alex gave the large group a overview of the CDPE organization progress and goals for the future. The organization which he founded only 2 years ago has rapidly grown to over 22,000 members at this time. This rapid grown rate is a tribute to the organizations professionalism and training. Their 2 day CDPE Certified Distressed Property Expert course is in my opinion the best training in Short Sales available to Real Estate agents today.

The first major speaker on the agenda for the morning was Rick Sharga Senior VP of Realty Trac.

Realty Trac is a national source of foreclosure data and related information. Rick stated that in his opinion the first wave of the current housing foreclosure crisis was not started by a cyclical down turn in economic trends but by unsustainable home prices created by high risk monetary policies and very risky loan underwriting policies and products. He stated that in March of 2010 365,000 home owners received a Notice of Default the first public notice of a pending foreclosure. Rick stated that last year in 2009 over 3,000,000 American home owners lost their homes in foreclosure and that currently per his companies records over 5,500,000 American home owners were in some stage of default on their home mortgages.

His company is projecting a second wave of foreclosures driven by declining property values and rising unemployment. He stated that currently 60% of the foreclosure activity is concentrated in 6 states including California, Florida, Arizona, Michigan and Ohio and that current unemployment will drive higher levels of foreclosure in the 4th Quarter of 2010. He stated that in his opinion the governments current loan modification programs and efforts would be ineffective in stemming this new pending group of foreclosures and that we could see a rapidly rising number of strategic defaults where under water home owners who could continue to make their payments just walk away from their homes due to their negative equity position.

Due to these facts and the federal governments new emphasis on encouraging a short sale as the preferred alternative to a foreclosure or strategic default there will be a need for hundreds of thousands of Americas real estate agents to become very knowledgeable with the complex short sale process just as soon as possible.

To Follow Report on Presentations By Matthew Vernon Short Sale and REO Executive with BOA

Eric Bryant Director of Client Services Equator Financial Services

Diana Stauffer VP Short Sales Wachovia Bank

Report from NRBA Annual Meeting RE Short Sale Training Program for Members

Fred and Mario Martin (Century 21 Alpha) — Sun, 16 May 2010 10:24:30 -0700

Just finished up a intensive four day NRBA meeting with 600+ of the top REO Brokers in the United States along with several high level members of our countries Banking and Loan Serving community held in Colorado The agenda covered the many aspects of the current loan foreclosure crisis facing millions of Americas home owners and possible ways the organizations members could help home owners and lenders mitigate this serious ongoing economic crisis. A new federally supported program improving Short Sales was one of the most important topics on the agenda introduced by Mike Krein NRBA President and Owner of Sellstate NRES Henderson Nevada. A Short Sales offers a chance for a under water home owner to sell there home with a limited negative impact on their credit and favorable tax treatment instead of going to foreclosure. The organization made a commitment to training its national membership to the highest level in the country in this area of expertise. The Short Sale alternative to foreclosure will help reduce foreclosures and provide our countries millions of under water home owners a graceful way out of their current situation will at the same time reducing ongoing losses to the lenders.Each member was urged to get their CDPE Certified Distressed Property Expert Designation and then to go on to complete the ongoing NRBA Short Sale Training Program which is designed to give its members the most advanced knowledge in this area of expertise in the country. Millions of home owners need help and the NRBA and its members will be doing their best to try to help both the home owner the real estate community and the lenders through these difficult times. Century 21 Alpha
Fred Martin REO Team
419 E. Hamilton Ave
Campbell CA 95008
Member of NRBA, REOMAC, CREOBA
Cell: 408-838-8815
Fax: 408-519-3726
fredmartin@aol.com
www.fredmartin.com

Loan Modification and Short Sale as options to Stop Foreclosure and Save your Home

Fred and Mario Martin (Century 21 Alpha) — Sun, 30 Aug 2009 00:25:05 -0700

Loan Modification and Short Sale As options to Stop Foreclosure and Save your Home

Recent credible reports in the national media a stating the currently over 25% of the homes in the United States with financing are in a negative equity position. Upside down. The existing loans exceed the current value of the home. If the owners had to sell the property the owners net proceeds would be short as to having enough money available at close of escrow to completely pay off all the money outstanding to the one or more lenders who provided financing on the property plus the selling costs.

If these home owners are forced to sell they would only be able to do so using what is currently referred to in Real Estate vernacular as a Short Sale. That is a process where the property is listed with a agent trained in that highly specialized area and sold at market value then the Realtor attempts to negotiate with the lenders to allow the sale to close in consideration of their receiving less than the total amount owed to them ( A Short Sale) if the lenders involved will not accept the reduced proceeds and allow the property to sell to the new owners the home usually winds up going into foreclosure.

Much has been written about this subject and the short sale will hopefully account for many successful property transfers of negative equity properties over the next few years. There is another financial tool available that should be used in many cases where the home owner can qualify and wishes to keep their home and that is A loan Modification.

This term is well known in the Real Estate world but the exact process to obtain a loan modification is not very well understood by most people including the real estate community. There are a few highly trained HUD councilors out trying to save millions of home owners from foreclosure. Realtors for the most part know little about the subject and the general public is being advised to do it themselves working directly with under staffed and in some cases minimally trained bank personnel. Many of the fee for service loan modification companies are also providing marginal service. The general public is being advised to stay away from any fee for service loan modification companies. The end result is very few loans are being successfully modified and hundreds of thousands of home owners that should not be losing their homes are winding up in foreclosure.

I recently invested several thousand dollars to go through a week long Loan Modification Training program and will be posting many of the key concepts on this blog over the next few weeks in a attempt to share the basic information needed for a home owner or their realtor to properly work with their lender and end up with a successful loan modification. If the loan Modification cannot be achieved then the Short Sale could be the next viable option to foreclosure.

Free Live Local Workshop on Preventing Foreclosure Option in Sunnyvale CA

Fred and Mario Martin (Century 21 Alpha) — Mon, 24 Aug 2009 18:13:18 -0700

http://www.bayareahomeretention.com

What can I do to Save my Home From Forclosure Free Live Informational Workshop

Fred and Mario Martin (Century 21 Alpha) — Mon, 24 Aug 2009 16:42:09 -0700

What can I do to Save my Home? Free Live Informational Workshop

Sunnyvale Ca Community Center

Join us Tuesday Sept 1st 6:30pm, Monday Sept 21st 6:30pm or Saturday Oct 3rd 1:30pm for this Free Workshop. This resource is being provided as a service to our community to help families understand the options that exist and pros and cons. Many families are faced with Loss of Equity (upside down), Interest Rate jump (ARM), Job Loss or are Behind on their Mortgage. Some topics covered will be Forbearance, Loan Mods, Short Sales, and Deed in Lieu of Foreclosure. Join us to learn what options you have! Let's stop foreclosure! www.bayareahomeretention.com or call 408-731-6288 408-731-6288

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