HAFA Update Effective February 1, 2011 - 01/20/11 03:03 PM
The Home Affordable Foreclosure Alternatives (HAFA) program will continue to grow and change as the market conditions change.   It's very important for Real Estate Professionals to stay on top of these changes to help their clients through potential loan modifications and short sales if and when the client deems them a necessary course of action.

In December 2010 a handbook  was issued by the Treasury (version 3.0) for Servicers of Non GSE Mortgages.  This means the program that details the HAFA guidelines specifically for loans that are not owned or guaranteed by Fannie Mae or Freddie Mac (they have their own … (3 comments)

Your Short Sale & Commission...Who Pays? - 01/04/11 02:03 PM
In a standard real estate transaction -closing costs (including the sales commission) are deducted from the Seller's equity in the home.  Pretty straight forward.  Looks a little like this, overly simplified:
$ 350,000  Home Sales Price
$ -150,000 Loan(s) on House
$   -21,000 Closing Costs
$  179,000 Balance to Seller 
However in the Short Sale transaction it becomes confusing to the average Seller.  In fact we're finding that the public in general does not have a clear understanding of what a short sale is, how it works, or let alone where the closing costs including commission comes from.  It leads Sellers … (2 comments)

 
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Gary & April Greer, Real Estate Professionals

Temecula, CA

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Tarbell Realtors

Address: 33449 Temecula Parkway, Temecula, CA, 92592

Cell Phone: (951) 522-0518

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