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)
short sales: 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)
short sales: 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)
short sales: ENOUGH IS ENOUGH! Alleged Short Sale Fraud Committed By Banks
- 02/08/10 10:29 AM
At what point does the American taxpayer finally say, "Enough is enough!"? It wasn't enough when the Obama Administration offered up our hard earned dollars to bail the banking industry out of the financial mess they created for themselves. It wasn't enough when we saw reports of ongoing fiscal irresponsibility. Are the American people going to allow big money lenders to act with impunity forever? Recent allegations of still greater abuses of power may answer that question once and for all. In her recent report on CNBC, real estate reporter Diana Olick brings to light, once again, the audacity of … (8 comments)
Short Sales are the way to go
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