short sales: A Realtor's Poem For the Future
- 10/27/09 10:35 PM
Do you think we're finally going to make it now? Or should we be continuing to follow the dow? Are the housing prices going to still be low? Or can we start making some real dough? Who's going to be telling us what to do? Is it still going to be like living in a zoo? Or will we be living in more of a jungle? Will our short sales begin to no longer bungle? Will our new careers be selling cars? Or will we be investing in those little gold bars? Will we let the economy keep us in really … (15 comments)
short sales: Short Sales And Modification Improvements
- 10/23/09 09:54 PM
It could be possible that things are starting to change for the better in short sales and modifications for distressed homeonwers. Yesterday I received a couple of phone calls that indicated promise on the horizon for borrowers from Bank of America. The first call was from a past client that lives in California and has an investment property in Ocala, FLorida. He had his home on the market as a short sale, but Bank of America just offered him a modification that cut his payment in half. PERMANTLY. His rental home in Ocala now positve cash flows and it is one … (34 comments)
short sales: To Modify or Not to Modify
- 10/18/09 03:25 AM
There certainly is a lot of confusion about modifying for the average homeowner to try to navigate through today and it is changing by the minute. We have the acronyms coming out of space at us and we as professionals are trying to keep up with it all. What's a homeowner to do when the lenders can't even figure it out themselves? What you might want to consider before you even look at a modification is your own local real estate market, you local economy, and the stability of the neighborhood you live in, in addition to how much you actually … (3 comments)
Home Affordable Foreclosure Alternatives (HAFA) may be announced by the U.S. Treasury sometime soon. "HAFA will offer financial incentives to both servicers and borrowers, and associated secondary investors, in order to facilitate a short sale or deed in lieu of the property", according to an article published in HousingWire.com. In addition, a Treasury official reported that borrowers will need to be eligible for the Home Affordable Modification Program (HAMP) in order to participate in the HAFA program. A program to streamline the short sale process and the extension of the $8000 … (1 comments)
short sales: My Personal Bank of America Horror Story
- 10/15/09 02:06 AM
With so many borrowers having so many problems with their mortgage modifications and short sales, and REALTORS going bald and on Prozac trying to deal with the mess, I made a youtube video to tell my story.
I also got some advice from a real estate attorney to help others with the same problems: Always get the name and employee number of the person you are talking with on the phone AND their supervisor's name and employee number. Write down the time and date. (You may need your phone records later) Repeat the information back to them that … (8 comments)
Do you think we're finally going to make it now? Or should we be continuing to follow the dow? Are the housing prices going to still be low? Or can we start making some real dough? Who's going to be telling us what to do? Is it still going to be like living in a zoo? Or will we be living in more of a jungle? Will our short sales begin to no longer bungle? Will our new careers be selling cars? Or will we be investing in those little gold bars? Will we let the economy keep us in really … (15 comments)
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