foreclosure: Streamline Loan Modifications- No DOC from Fannie Mae and Freddie Mac - 03/27/13 06:48 AM
I never thought I would hear those two words again- "NO DOC". Back in the day, Wall Street was starving to create as many loans as possible and sell these off to hungry investors trying to chase the income producing promises that were given to them all. I knew the end was coming when Indy Mac bank was trying to market what they called a NINJA loan pertaining to "No Income, No Job/Assets" Yes they did exist but was the beginning of the end for the streamline loans.
 
Nopw fast forward to recovery time and we are reading the headlines … (3 comments)

foreclosure: Fannie/Freddie- profit go to shareholders and losses go to tax payers? - 02/22/11 08:40 AM
WHITE HOUSE PLANS TO WIND DOWN FANNIE AND FREDDIE
 
 

 
Congress will consider three suggestions.
A fundamental reform for the housing market.For two-and-a-half years, economists and housingindustry analysts have wondered what would happen with Fannie Mae and Freddie Mac. On February 11, they got an answer: the Obama administration announced plans to shut down both of the troubled mortgage giants by 2018 or sooner.1
As he met with the press, Treasury Secretary Timothy Geithner cited the "very broad consensus" that the government should play "a much smaller role" in the housing market.Capitol Hill Republicans would agree, pointing to … (2 comments)

foreclosure: Fannie Mae and Freddie Mac HAFA guidelines and Washington Law Firm to negotiate - 06/27/10 10:47 AM
Recently, both Fannie Mae and Freddie Mac (the Government Sponsored Entities or GSE's) announced their HAFA Guidelines, with a mandatory implementation date of August 1, 2010. Fannie Mae guideliens can be found here and Freddie Mac guidelines can be found here.  These critical and much awaited announcements propel HAFA toward becoming the #1 Short Sale program in the Nation... and make it a ‘first choice' program for every distressed homeowner who cannot afford to retain ownership of their home due to financial hardship.
Let NW Short Sale Network screen the cleint for the HAFA options as the programs rollout.

While the … (2 comments)

foreclosure: When will the bottom hit- follow unemployment and you will see! - 11/04/09 05:45 PM
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foreclosure: United First- 2300 clients left with no support! - 03/08/09 10:06 AM
I ran into this post in another blog. I think we will see more and more shady companies getting shut down as a result of making false promises and collecting money to only put people into foreclosure.  March 5, 2009 United First Filed under: Foreclosure, Real Estate
<!-- end POST META -->My husband and I purchased a house in 1999, last year he was hurt and could not work, we tried to pay the mortgage but without his income could not keep up, We decided to let the mortgage company take the house, Its been about a year now since we … (0 comments)

foreclosure: Washington Mutual/Chase Loan Modification accepted - 03/06/09 12:23 PM
I just wanted to send a quick note to my readers to share a story that occurred yesterday.
I had some clients that were 6 months behind with WAMU. They originated the loan with Long Beach Mortgage which was a sister company of WAMU. They owed $99,000 on the home that was valued at $160,000. The rate was 7.625 with 2 years into the loan. WAMU ignored the clients right up to the end and accepted a loan mod at 5.365 fixed for 28 years. Although my clients had the $7,000 they owed and were ready to pay WAMU or the … (3 comments)

foreclosure: How should I know if I should hire a loan mod company? - 02/05/09 06:32 AM
Important Disclosure: This information is meant to be a general guide to consumers about what to expect from a loan modification. I currently do not do loan modification negotiations nor do I receive any money from any loan modification company for referring people to them, although I do assist with processing the required documents and educating my clients on the current market in this arena and refer them to various organizations for help. One thing that I know is that no lender follows the same process and each individual situation is different - so do not take anything here as a … (2 comments)

foreclosure: Short Sale Investing Summer of 2008 - 06/26/08 10:00 AM
 
 
“What Every Investor Needs to Know About
Short Sale Investing During the Summer of 2008”
 
With the number of foreclosures and short sales on the rise, investors are doing more and more short sales out of need more than desire. The days of numerous sellers with loads of equity seem to be few. As we continue to invest through this declining market cycle, we must pull out our short sale tools, sharpen them and get to work creating equity.
 
In answering student questions, we find that so many hit the same roadblocks.
In this special report, you … (0 comments)

foreclosure: Stimulus Package: Who benefits on the mortgage side - 02/14/08 06:15 AM
Stimulus Package: Lawmakers Raise Lending Limits: Do you qualify for a better rate? The Economic Stimulus Act of 2008 is a $168 billion plan intended to jumpstart the sliding U.S. economy. While a lot of media attention has been focused on the $600-$1,200 rebate checks that millions of taxpayers will begin receiving this spring, the new bill is also designed to help certain "high-cost regions" of the struggling housing market by:
Temporarily increasing the "conforming loan limit" from $417,000 to as high as $729,750 in specified areas; and Temporarily increasing the size of loans the Federal Housing Administration (FHA) can insure … (2 comments)