Lynn Arends's (lynn_arends) Blog

Real Estate Broker/Owner
Too many people who are contemplating the short sale process, are afraid of the repercussions for their future home ownership. There seems to be a large amount of cynicism in most online articles regarding the potential for people to buy another home after completing a short sale. Typically, thes...
The long awaited changes to the rules on “qualified mortgages” were released earlier this year on the 10th of January. The Consumer Financial Protection Bureau has set forth these rules in order to protect borrowers from predatory lending, while simultaneously granting protection from litigation ...
In the past two days there have been two huge settlements between some of the nation’s largest lenders and the government. These two separate settlements hope to address both the needs of homeowners who were subjected to foreclosure abuses, and also to help ameliorate the damage done by bad home ...
Congress’s late night passage on New Year’s Eve of the American Taxpayer Relief Act of 2012 extends an important resource for distressed homeowners, the Mortgage Forgiveness Debt Relief Act of 2007, which was set to expire at midnight on December 31, 2012. According to the National Association of...
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, has made recent revisions to their guidelines which make the process of having a short sale more efficient. It allows the company that services your loan the ability to approve your short sale without bringing the ...
Recently, we have heard a lot about the "fiscal cliff" set to happen at the end of 2012 unless Congress acts to mitigate it. One of the most uncertain aspects of this "cliff" is the scheduled end of the Mortgage Debt Relief Act, which could have significant consequences for distressed property ow...
Bye Bye HAFA…Hello Standard Short Sale Home Affordable Foreclosure Alternatives (a.k.a. HAFA II) Today is the first day of the new HAFA II program from Fannie Mae & Freddie Mac.  This new program expands eligibility requirements for Short Sales, and will hopefully speed up the process of getting ...
Really! Some lenders are now offering homeowners cash incentives up to $35,000 to do a short sale. Many banks are overwhelmed with repossessed properties as the foreclosure rate has risen across America. These properties often require significant repair before being marketed and resold, costing t...
I’m excited to announce that I will be on the Tina & Drew Radio Show this weekend!  You can tune in to AM 1090 or listen online at this link this Saturday, May 12th at 3 PM.  I’ll be talking with Tina and Drew about short sales…. including the new changes made by FHFA to the way Fannie and Freddi...
The National Mortgage Servicing Settlement that was reached in February has now been finalized by a court order.  The Settlement provides direct relief and new protections for Washington consumers. Washington’s share of the record $25 billion dollar settlement over alleged widespread mortgage fra...

Lynn Arends

Retired Designated Broker & Attorney
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