foreclosures: It's Spring....Time For New Beginnings AND Real Help For Homeowners!!!! - 04/21/10 03:29 AM
As of April 5, 2010....HAFA began!!! Already, I have two short sale clients enrolled in the HAFA program and we're actually having much success!! It's interesting to note that 90% of mortgage servicers are participating in this program that provides a viable solution for troubled homeowners (owner occupant only - not available for investment property). The main focal points of the HAFA program are as follows:
 Available for those who are eligible for HAMP, but are unable to keep their current residence. Borrowers who previously enrolled in the HAMP program, but were unable to keep their mortgage payments or fell behind … (1 comments)

foreclosures: HUD's New Overbid Policy.....Finally, Someone's Been Thinking!!!! - 10/15/09 01:41 PM
Finally......an answer to our prayers!!!!! HUD has finally adopted a new policy to handle people who unnecessarily "tie-up" great HUD owned homes for months only to terminate the contract because they realize that they have to come to the table with thousands of dollars....Let me sum it up for you...
Here's the scenario....
Buyer finds excellent HUD deal on a home that's being offered for it's "as is" value at $110,000. Buyer, who's approved for $150,000 (FHA Loan) wants the home really badly. The Realtor advises that HUD-owned properties are hot commodities and that this one will solicit multiple bids and that, … (6 comments)

foreclosures: Foreclosure Bailout??? Varying Schools of Thought - 02/18/09 02:12 AM
I've been watching MSNBC, along with generating new leads and working my current files, all morning. The focal point of discussion has been surrounding whether or not our current president will be able to save the housing market by allowing troubled homeowners to re-finance their current mortgages into lower monthly payments, and providing aid to banks that currently hold the troubled assets. For the most part, I've been hearing three varying opinions regarding whether or not this type of bailout would prove beneficial to the current state of the real estate industry.
1) There is no benefit to current homeowners who have … (5 comments)