Joshua Talayka's (talayka) Blog

The FHA 203k Renovation Loan allows a borrower to roll repair/renovation costs into their FHA loan. The repairs/renovation can include optional renovations/upgrades such as: interior and/or exterior paint, new flooring, kitchen/bath remodel, Energy Efficient Improvements, landscaping, etc. The pr...

An Energy Efficient Mortgage (EEM) allows a borrower to finance the entire (100%) expense of a cost effective “energy package” when made in conjunction with a VA purchase loan or a refinance loan. A cost-effective package is where the cost of the improvements plus maintenance is less than the pre...

The federal government's guidelines for standardizing short sales have been in effect since April 5, 2010. These guidelines are an addition to Obama's Making Home Affordable program. The new HAFA program is designed to offer an alternative solution in the form of a standardized short sale for hom...

A foreclosure is a legal process whereby a lender takes back real property after a borrower has failed to make loan payments. Nevada allows for two different types of foreclosures, judicial foreclosure and non-judicial foreclosure. Each type of foreclosure has different timelines.However, because...

Scammers and con-artists tend to make a living by taking advantage of people who are vulnerable. So it’s no surprise that with the number of people facing foreclosure, that we are seeing more and more scams that promise to rescue you from foreclosure. Now this doesn’t mean that every person or co...

I’ve spoken with many agents in regards to working with veterans who are using their VA loan benefits. I’ve been surprised to learn that unless they work exclusively or at least dedicate a large portion of their business to working with veterans, many agents are not very familiar with VA loans, a...

If you are facing foreclosure on your home in Nevada and a notice of default has been filed on your home, you may be able to get help through The Foreclosure Mediation Program (FMP).The Foreclosure Mediation Program was established as a result of Assembly Bill 149. The program is a process where ...

On December 1, 2009, the Treasury announced that is was going to begin fining services that fail to permanently modify as many mortgages as the government thinks they should be.Servicers failing to meet performance obligation under the Servicer Participation Agreement will be subject to consequen...

In the state of Nevada, it has been possible for a borrower to receive a deficiency judgment even after they’ve already lost their home to foreclosure. Effective October 1, 2009 Assembly Bill No. 471 addressed this issue by limiting who may be awarded a deficiency judgment relating to real proper...

On Monday November 30, 2009, the U.S. Treasure set guidelines on a plan for mortgage companies to speed up “Short Sales” and other loan modification alternatives. These new guidelines will become effective on April 5, 2010New Short Sale GuidelinesShould you have any questions or need further info...