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short sale: HAFA Short Sale Program Changes taking effect June 1, 2012 - 05/30/12 03:05 PM
The following HAFA (Home Affordable Foreclosure Alternative) will go into effect June 1, 2012 The most important change is that the HAFA Short Short Program has been extended to December 31, 2013. Other Important Changes: The removal of occupancy requirements. Previously, HAFA required homeowners to have lived in the property within the last 12 months. $3,000 relocation incentives will be limited to properties occupied by an owner or tenant at the time of the short sale. Mortgage payments will be allowed to exceed the 31% of the homeowners gross monthly income. This update will allow a homeowner to stay current on … (1 comments)
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short sale: Upside down on your mortgage? - 05/30/12 02:47 PM
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short sale: FHA's Pre-Foreclosure Program - Helping Distressed Homeowners avoid Foreclosure - 05/29/12 08:39 PM
FHA has a Pre-Foreclosure Sales Program for distressed homeowners who have a FHA loan to help them avoid foreclosure. Eligibility The property must be owner-occupied, no "walk-a-ways" or investment properties. The Borrower must be 31 days or more delinquent at the time of the Preforeclosure Sale Closing The borrower must provide documentation substantiating a reduction in income or an increase in living expenses, and documentation that verifies the Borrowers need to vacate the property. to lean more about the FHA Pre-Foreclosure program, visit: www.StopMyDesertForeclosure.com See how long you need to stay in your home before you have equity again, visit: www.StayorSellMyHome.com … (0 comments)
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short sale: What are the guidelines for borrowers with a short sale on a previous principal residence? - 04/09/12 02:38 PM
When a previously owned property was sold for less than what was owed (short sale), borrowers are considered eligible for a FHA insured mortgage if, as of the loan application date, all mortgage and installment debt payments were made within the month due for the twelve months preceding the short sale. Borrowers that were in default at the time of the short sale (or pre-foreclosure sale) are not eligible for three years from the date of the sale. Borrowers who sold their property under the FHA pre-foreclosure sale program are not eligible for three years from the date that FHA paid … (2 comments)
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short sale: 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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short sale: Should you Stay or Sell Your Home ??? - 04/01/12 05:40 PM
Find out if you Should Stay or sell your home! Get your home's value, get valuable help today: www.StayorSellMyHome.com … (4 comments)
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short sale: Robo-signing settlement - Is there really help for you? - 03/29/12 09:18 PM
The $26 billion crapshoot The foreclosure settlement looks like a hit-or-miss game that leaves millions of homeowners out in the cold. Expert taken from CNNMoney: Homeowners hoping the $26 billion foreclosure abuse settlement would mean big savings on their mortgages were mostly disappointed. Even though a million borrowers will have their principals slashed by as much as $100,000 or more, most are not eligible for a workout simply because the bank that issued their mortgages, didn't hold their mortgages. Read more at: http://money.cnn.com/galleries/2012/real_estate/1203/gallery.mortgage-settlement/index.html
Find out if you should stay or sell your home http://www.StayorSellmyhome.com
… (3 comments)
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short sale: Start your "Restructure Program" and get your financial Freedom back - 03/26/12 09:31 PM
Press Release
Laura Lake of Keller Williams Realty announces the Short Sale Restructure Program for Homeowners
Laura Lake of The Laura Lake Group with Keller Williams Realty in La Quinta, California announces the Short Sale Restructure Program to help homeowners’ short sale their home and get back on the path to their financial freedom.
“I believe in helping current homeowners live the American dream again, but this time, the right way. says Laura. “This program takes the homeowner from the start; selling their home short, obtaining a rental home;… to the end and beyond; purchase a home again in as little … (0 comments)
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short sale: Major Changes to HAFA Program! Yes it's better - 03/26/12 09:19 PM
On Friday, March 9, the Obama Administration announced updates to the Home Affordable Foreclosure Alternative (HAFA) program. Created in 2009, HAFA is a government-sponsored initiative assisting all Home Affordable Modification Program (HAMP) eligible homeowners in avoiding foreclosure through short sales and deed-in-lieus. The HAFA updates will go into effect on June 1, 2012, and will allow more distressed homeowners to seek assistance. Most importantly, the deadline for submitting for HAFA eligibility will be extended a full year, from December 31, 2012, to December 31, 2013. Other major changes from March’s updates to the HAFA program include: •The removal of occupancy requirements. Previously, HAFA required … (1 comments)
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short sale: 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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short sale: Major Changes Announced for HAFA - 03/17/12 07:46 PM
On Friday, March 9, the Obama Administration announced updates to the Home Affordable Foreclosure Alternative (HAFA) program. Created in 2009, HAFA is a government-sponsored initiative assisting all Home Affordable Modification Program (HAMP) eligible homeowners in avoiding foreclosure through short sales and deed-in-lieus.
The HAFA updates will go into effect on June 1, 2012, and will allow more distressed homeowners to seek assistance. Most importantly, the deadline for submitting for HAFA eligibility will be extended a full year, from December 31, 2012, to December 31, 2013.
Other major changes from March’s updates to the HAFA program include:
The removal of occupancy requirements. … (2 comments)
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short sale: IMPORTANT UPDATE: HAFA's sister program HAMP gets extended through 2013 - 02/29/12 09:13 PM
IMPORTANT UPDATE: HAFA's sister program HAMP gets extended through 2013
The Treasury Department announced that the Home Affordable Modification Program (HAMP) - which is the sister program for HAFA - was extended by one (1) year through December 31, 2013.
This means eligible consumers will have more time to apply for a HAMP modification. Other changes to HAMP include higher Treasury paid financial incentives for Fannie Mae and Freddie Mac to forgive principal, and an easing of program guidelines so that homes occupied by renters are also now eligible for the program.
We expect that the HAFA program, since it's … (3 comments)
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short sale: FHA Waives 3 Yr. Wait Time for Short Sellers - 02/19/12 12:47 PM
If you have already completed a short sale on your home or are thinking about short selling, now be the time!
Let's not forget that the Tax Relief for Cancelled Mortgage Debt is set to expire on December 31, 2012, but now FHA is doing something else to help homeowners after a short sale.
Our Short Sale Program helps you with preparing to becoming homeowners again. We work with you during the time after the short sale to get you "credit worthy" again so in a just a few short years, you can purchase a home again and let's face … (0 comments)
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short sale: Get Your Short Sale questions answered - 02/18/12 09:59 PM
760-464-8168 - Laura Lake Lic#01455311, The Laura Lake Group, Short Sale Agent with Keller Williams Realty, La Quinta, CA 92253Need to Short Sale? You need The Laura Lake Grouphttp://www.StopMyDesertForeclosure.comor call 760-464-8138 right now. … (2 comments)
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short sale: #1 Short Sale System - La Quinta Short Sale Specialist - The Laura Lake Group - 01/31/12 01:09 PM
Laura Lake, Short Sale Agent with Keller Williams Realty, La Quinta, CA 92253, 760-464-8138 Are you behind in your payments? Get the facts now, find out what all your options are: www.StopMyDesertForeclosure.com See our Short Sale Process: short sale process Helping Homeowners in La Quinta, Indio, Bermuda Dunes, Palm Desert, Indian Wells, Palm Springs and all other Coachella Valley areas. … (0 comments)
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short sale: Bank of America making Short Sale even easier - 12/05/11 12:58 AM
I have been doing short sales for the past 4 years and I have seen the timeframes reduce and the amount of approvals increase with Bank of America.
I can remember just a year ago, I was hearing agents say "I won't take a short sale listing if the loan is with BofA". I decided not to listen to them and kept doing them and now they are running like wildfire. I got one approval from BofA in 15 days, wow, I was impressed.
BofA is now working towards reducing the timeframes even further with their latest announcement. BofA … (5 comments)
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short sale: 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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short sale: Just Listed - HAFA Short Sale Approved - North La Quinta - 11/16/11 11:03 PM
http://www.buyandsellpalmsprings.com/listing/mlsid/301/propertyid/21441731/
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short sale: When can you buy a home again after a Short Sale or Foreclosure? - 11/07/11 10:18 PM
When can you buy a home again after a Short Sale or Foreclosure?
Here are the general guidelines followed FHA Lenders. Just another reason why short sale is better than a foreclosure if you can't get a loan modification from your lender
Foreclosure/deed-in-lieu: 3 years from date foreclosure was completed and less than 3 years from date of foreclousre may be acceptable depending on the results of acceptable extenuating circumstances.
Short Sale: 3 years from the date of the transfer of the property to a new owner and no waiting period if borrower had no late payments on any mortagages … (2 comments)
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short sale: La Quinta California Current Real Estate Market - 10/20/11 10:50 PM
La Quinta California Current Real Estate Market
Got a call from one of my investors today wanting an update on the La Quinta, CA Real Estate and I found the numbers pretty interesting so I wanted to share them with everyone!
Currently there are approx. 780 MLS Listings for all of La Quinta, with 42 of them being Bank Owned (REO) listings and 76 are short sales. So right now the distressed market is only representing 15% of the current available homes for sale in La Quinta.
There are currently 229 properties under contract, 38 are bank owned (REO) and 116 … (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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