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fannie mae: Robo-Signing Settlement is Historic but NOT Without Controversey - 04/07/12 07:49 PM
On February 9th 2012, the United States Justice Department released the details of the $25 billion dollar settlement they reached with 5 major banks. "The Settlement occurred because the banks were accused of widespread use of "robo-signing".
Robo-signing is a practice employed by banks to automate the processing and approval of foreclosure proceedings against homeowners. In many cases the banks were discovered to have processed thousands of foreclosures in a single day, all signed by one person.
Laura Lake, A Certified Distressed Property Expert (CDPE), believes that the settlement presents a unique opportunity for homeowners who are in danger of losing their … (1 comments)
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fannie mae: Treasury, Fannie Mae and Freddie MAC HAFA Program - 03/26/12 06:49 PM
Here are the basic requirements to be considered for the HAFA program. If you don't know who owns your loan, call us 760-464-8138 and we can help you find out!
TREASURY DEPARTMENT HAFA ELIGIBILITY (Short Sale)
· Must be or recently have been borrower’s principal residence
· Property has been borrower occupied in the last 12 months
· Loan must be delinquent or default reasonably foreseeable (current or less than 60 days delinquent - Loan in foreclosure is eligible)
· 1st loan must have originated on or before January 1, 2009
· Borrower must be able to document a financial hardship
… (0 comments)
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fannie mae: Fannie Mae and Freddie Mac are giving homeowners a gift - 12/05/11 12:47 AM
Fannie Mae and Freddie Mac are giving homeowners a gift
CNNMoney 12/2 -- Happy holidays struggling homeowners! Fannie Mae, FreddieMac and several large mortgage lenders have pledged not to foreclose ondelinquent borrowers during the Christmas season.
For homeowners with loans through Fannie Mae and Freddie Mac the moratoriumwill run from Dec. 19 to Jan. 2. During this time, legal and administrativeproceedings for evictions may continue, but families will be allowed to stayin their homes, Fannie said in a statement. "No family should have to give up their home during this holiday season,"said Terry Edwards, an executive vice president for Fannie Mae.Among … (4 comments)
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fannie mae: Fraud Findings Statistics Report - FannieMae - 11/03/11 05:54 PM
Fraud Findings Statistics Report-FannieMae
https://www.efanniemae.com/utility/legal/pdf/fraudstats/fraudupdate0911.pdf
Got this Report today, I was SHOCKED that California was #1.....OK...not really!!! I found this report very interesting in breaking down the type of fraud that's been happening in getting mortgage loans. At this point, there's no good in placing blame...it's time to clean up this mess and move forward and as long as we learn something from all this, we are moving in the right direction!
One thing to see by this when looking at the states that are on top of the list, they are also the same states that saw the insane equity … (0 comments)
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Laura Lake - La Quinta Short Sale Specialist
La Quinta,
CA
More about me…
Keller Williams Realty La Quinta
Address: 47170 Washington Street, La Quinta, CA, 92253
Office Phone: (760) 601-3000
Cell Phone: (760) 609-4601
Email Me
Many homeowners are asking themselves a very difficult question. "Do I Short Sale my Home or stay and tough it out?"
This free service will help give you the knowledge you need to help you make an informed decision
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