hafa: Bank of America Did it Again - 09/11/11 06:51 PM
Well Bank of America did it again.  They foreclosed on a home owned by a single mother of five children, one a newborn last Monday after we were told numerous times that her short sale was approved.
This hard working mother of five commutes to work every day from Victorville to Manhattan Beach, a 103 mile one-way trip in order to keep a roof over her family’s head.  With the job market in such a slump she cannot afford to risk her current employment and has been making this commute for nearly 4 years now.  Until now.
She attempted a … (4 comments)

hafa: What’s so Short about a Short Sale? - 04/21/11 06:04 AM
I find many homeowners who are afraid to ask what a short sale is.  They are afraid to ask because by now you would think that everyone would know what a short sale is.  But until now, they never wanted or needed to know.  Let’s try to bring them up to speed.
It’s no surprise that the real estate market has hit an extraordinary low under the most extraordinary circumstances.  We have never experienced anything like this before.  We heard all the talk back in 2005 and 2006 of a real estate bubble.  An overinflated real estate market that was … (1 comments)

hafa: Is it legal to flip short sales? See posted question. - 07/11/10 08:06 AM
I recently found this post on the internet asking if flipping short sales is a good opportunity.  After reading this it made me analyze the big picture here. _______________________________________________________________
If I can buy fully negotiated short sales directly from the agent/broker that represents the lender at 80% of BPO, is this a good flip opportunity?
I have someone that can provide me properties consistently for 80% of BPO before they hit the MLS. I plan to wholesale it for 85% of BPO and list with the same agent that provided me with the deal so he can double end and make a … (4 comments)

According to HAFA (Home Affordable Foreclosure Alternatives) program slated to take effect April 5, 2010, lenders MUST first evaluate/advise homeowners on HAMP (Home Affordable Modification Program) loan modification programs prior to any consideration of eligibility of the HAFA short sale option.
 One of the goals of the new HAFA program is to simplify and streamline the use of the short sale option by incorporating the following unique features:
Uses borrower financial and hardship information already collected in connection with consideration of loan modification. Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds). … (22 comments)

Diane Wheatley, Broker, SoCal Real Estate Expert (909) 815-4499 (Move Up Properties) Rainmaker large

Diane Wheatley

Broker, SoCal Real Estate Expert (909) 815-4499

Rancho Cucamonga, CA

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Move Up Properties

Address: 2335 Foothill Blvd., Suite 5, Upland, CA, 91786

Office: (909) 981-5400

Mobile: (909) 815-4499

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Survived the mortgage meltdown and live to teach others how to buy and sell in the "move up" market in California.




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