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HAFA (Home Affordable Foreclosure Alternative Program) - 01/27/10 01:06 PM
As if we needed ANOTHER acronym, here comes HAFA!
Unveiled at the end of last year, the new HAFA rules will take effect April of 2010.
So what are these new federal guidelines?
The HAFA program is a baby brother of the Home Affordable Modificiation Program. I guess somebody up there finally got wise that no one was actually qualifying for a modification so a short sale was the next best thing!
Homeowners with a home underwater will be able to be approved for a short sale before they list a home, and receive up to $1500 moving money. They will … (1 comments)
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RESPA - 01/27/10 12:51 PM
RESPA, otherwise known as: Real Estate Settlement Procedures Act (phew, what a mouth full!) took effect January 1, 2010.
These new federal guidelines were put in place to help the consumer understand their loan documents and settlement costs.
The new rules require mortgage originators to take all the origination costs involved in a loan and bundle it into one fee then shown on the Good Faith Estimate and HUD-1.
Any subsequent changes require a re-submission to the mortgage originator--adding an additional 3 days to a closing--and then disclosed on a re-issued Good Faith Estimate.
FAQ's and Answers can be found at … (5 comments)
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FHA guidelines changing again... - 01/21/10 03:09 PM
As reported by Inman News yesterday--important financial news from the Adminstration is coming down the pipeline.
"The Federal Housing Administration won't raise the 3.5 percent minimum downpayment requirement for mortgages it guarantees as long as borrowers have FICO scores of 580 or better.
Beginning early this summer, however, borrowers with credit scores below 580 will be required to make downpayments of at least 10 percent in order to participate in FHA's mortgage insurance program.
This spring, the Obama administration also plans to raise the upfront mortgage insurance premiums paid by all FHA borrowers to 2.25 percent, up from 1.75 percent now."
… (2 comments)
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How important is Privacy? - 01/13/10 02:05 PM
This morning an article on MSNBC got me thinking... ( http://www.msnbc.msn.com/id/34825225/ns/technology_and_science-tech_and_gadgets/?GT1=43001 )
How much privacy do we realtors want or think we deserve?
Here we are starting Facebook pages for listings, blogging like crazy, and sending out postcards and advertising in the newspaper. Not long ago, a fellow Broker in my office received complaints when she stuck straws up her nose in a restaurant...someone recognized her as a REMAX agent and called our principle broker saying that her behavior was unprofessional and gross! I couldn't stop thinking, "That's totally me." I AM the person that would, as a grown-up, put straws … (1 comments)
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Time to buy a new phone? - 01/11/10 02:21 PM
As I mentioned in one of my posts last week, I am a new Tech-Lover!
I currently have a palm trio from Verizon which is about 3 years old. I have never used the infer-red capabilities and I am endlessly frustrated with the tempermental touch-screen turning my phone on and off when an errant earring interfers. Very frustrating.
So this morning, when I read about the new HOTPADS Android application for property searches, I thought, "This is it. I must change phones NOW!". The best thing about the new map-search application is you can be standing in a neighborhood with a … (8 comments)
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How to be a Realtor--as played by Clint Eastwood - 01/08/10 12:26 PM
For Christmas, my mother bought my husband a set of DVD's-- all B-rated films, but important in their genre. As a dutiful wife, I was encouraged to watch one last night. I didn't have high expectations--but by the end of the film I had added it to my list of cult classics.
The movie is: A FISTFUL OF DOLLARS. It's set in Mexico, right across the Reo Grande from El Paso, and the sound doesn't match up with any of the speakers or action. But you know, sometimes in Real Estate, that happens. You think you are hearing what they are … (1 comments)
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Building America - 01/04/10 03:25 PM
Sustainable building is compelling territory for me. Considering today's advanced building technologies, there are no excuses for slap-chop new construction. Building America is a program I am learning more about everyday, as I take time to research their initiatives and understand their goals. According to their own website, Building America is an industry-driven research program sponsored by the US Dept. of Energy. They exist in order to accelerate the development and adoption of whole-house building technologies--- after all, why have all this great innovation without using it???
Their goals include integrated onsite energy systems, improving indoor air quality, and reduced waste. … (0 comments)
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Alisha Alway Braatz
Eugene,
OR
More about me…
Remax Integrity
Address: Eugene, OR, 97401
Cell Phone: (503) 704-3166
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