virtual assistants: Section Three - Consideration - 12/02/09 04:32 PM
Section Three - HAFA Considerations
This section outlines what a servicer must do to participate in the HAFA program.  First they need to have developed a written policy (consistent with Investor guidelines) that describes the basis on which the servicer will offer the HAFA program to borrowers.   The servicer can incorporate many factors in this policy, such as local market conditions, timing of pending foreclosures, the  severity of the loss involved and even the borrowers motivation and cooperation.  Remember they already have entered into an agreement with Fannie Mae to participate in the HAMP program.  These policies must be submitted and … (4 comments)

virtual assistants: Journey into SUPPLEMENTAL DIRECTIVE 09-09 - 12/02/09 11:33 AM
Well, Here we go.  My good friend Matt sent me these bullets of the program's key guidelines:
Lenders must respond to Short Sale requests within 10 business days of receipt of the offer package. Is this for approval to participate in a short sale, approval of the actual short sale acceptance, ordering the BPO or just contact saying we have your package? The seller will be released from all liability for repayment of the mortgage debt. Is this on both the first and any and all subsequent liens? Subsequently, the seller is entitled to a relocation incentive of $1,500, which will be … (3 comments)

virtual assistants: Let's Hope Short Sales Become More Timely - 12/01/09 09:58 AM
Well, 21 hours ago The U.S. Treasury set  the long-awaited guide lines on a plan for mortgage companies to speed up "short sales" of homes to stem a rising tide of foreclosures.  These guide lines address the problems that have often caused Realtors, buyers and sellers to avoid short sales.   The new guidelines will set limits on the time it takes a bank to approve an offer.  Mortgage servicers will have 10 days to approve or disapprove a request for short sale, and when done the transaction must fully release the borrower from the debt.
It also prohibits mortgage servicing companies from reducing real estate commissions … (54 comments)

virtual assistants: Acronyms Anyone? - 11/11/09 02:53 AM
There are so many acronyms flying around out there that it can be confusing if you don't use them all the time. So, I have taken a few that show up fairly often to help out our non-professionals and professionals alike who read these blogs.
MHA - "Making Home Affordable" program introduced by the Obama Administration on 2/18/09
HASP - "Home Affordability and Stability Program" - Program under MHA for stabilizing home ownership. 
HAMP - "Home Affordable Modification Program" program under MHA for modifications. Servicers              enter into a contract with MHA and are offered incentives to do loan modifications.
HPDP -"Home Price Decline Protection" program that includes incentives to support … (11 comments)

virtual assistants: Short Sales - Have you considered the other side? - 11/05/09 03:28 AM
Short Sales get a bad rap.  I see comments posted all the time about why people hate short sales.  "They never work out".  "The banks have an evil agenda".   Then you have the people that claim they close on every short sale they handle.  I don't know which is worse!  The hype!  The misinformation!  The out and out BULL! 
Short Sales are lucrative.  They meet a need in the population we service.  For many homeowners in financial distress, they can be the best option possible.  "About half of short sales never close. We see it as a big lost opportunity, … (6 comments)

virtual assistants: Virtual Short Sale Assistants: To Use or Not to Use? - 07/07/08 06:54 AM

My name is Dawn Uselding,  I am new to ActiveRain and this is my first blog ever.  However I am not new to Short Sales.  And I am in the position of having insight on both the short sale negotiator and loss mitigation negotiators side. 
I have been doing short sales for 8 years.  I started in my own business helping rehabbers find and finance properties to rehab.  I did this for 2 1/2 years until I caught the eye of an investor.  We had been in competition on several properties over the years.  At one point he (the … (8 comments)


Dawn Uselding

Short Sale Assistant

Manitowoc, WI

More about me…

A New Dawn Real Estate Services, LLC

Address: 10309 Middle Rd, Manitowoc, WI , 54220

Office: (262) 573-6309

Mobile: (262) 573-6309

Email Me

This is a blog about why a short sale negociator is a good investment.



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