hafa: HAFA May Not Have Any Bite!
- 05/15/10 02:41 AM
What about the Mortgage Insurance companies? We have all been hearing a tremendous amount of hype about the new HAFA regulations and I believe they are a step in the right direction, but I don't believe they address the Mortgage Insurance industry or the investors behind the mortgage. All the emphasis was put on the lender or servicer and when we have mortgage insurance in the mix we have a whole new problem which can kill the short sale. The new HAFA regulations sound good but if the mortgage insurance company and the investor do not have to follow the … (0 comments)
I hope home owners are getting the news about the new HAFA regulations that went into effect on April 5th. (Learn about the new HAFA rules) These rules (or guidelines) are the government's way of trying to get lenders to do more short sales to alleviate the back log of foreclosures going through the court systems. The rules were developed with the help of the banking and real estate industries to address several key issues that have plagued the short sale process for the last few years. The main points address the speed … (1 comments)
hafa: The Wild Wild West OF Real Estate
- 02/16/10 12:42 PM
Wow, I'm not sure how the market is in your neck of the woods but here in SW Florida it is almost like the crazy movies of the Wild West. On one side the Florida legislature is trying to get a proposed "Foreclosure Bill of Rights" through while bankers are trying to push a bill to do away with legal proceedings in foreclosures altogether by creating a non judicial foreclosure system which they say should speed up foreclosures by 90 days. On another front, local governments burdened with the high cost of trying to push through a record number of … (0 comments)
hafa: TREASURY DEPARTMENT ATTEMPTS TO SPUR SHORT SALES
- 02/08/10 10:45 AM
In a continuing effort to clear the troubled housing market of foreclosed properties, the Treasury Department has released forms and guidelines for its new Home Affordable Foreclosure Alternatives Program (HAFA). While this latest directive presents as a complex compilation consisting of some 43 pages of guidelines and forms, the basic elements and goals of the program are relatively clear. You can view the documents in their entirety at https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf.
As an adjunct to the Home Affordable Modification Program (HAMP), HAFA provides incentives to borrowers, lenders, and investors alike, that are designed to streamline and make more viable the short sale … (1 comments)
hafa: SUPPLY SIDE ECONOMICS AND THE HOUSING MARKET
- 02/08/10 10:42 AM
So you've heard that the housing market has finally reached rock bottom and you are feeling like you missed the boat? Have you been kicking yourself for being too indecisive when opportunity was pounding on the door? Well don't start tying your own noose just yet; your ship might very well be coming back to shore. The U.S. Department of Treasury's Home Affordable Modification Program (HAMP) aimed to stem the flow of foreclosures by encouraging mortgage holders to provide loan modifications and other retention programs to troubled home owners. Apparently coming to the realization that HAMP was not effectively converting … (0 comments)
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