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For awhile now, we’ve instructed agents on government incentives available to distressed homeowners who opt to do short sales. Such programs include the Home Affordable Foreclosure Alternatives (HAFA) program, which provides up to $3,000 to assist the borrower with relocation fees. In recent news, major publications including USA TODAY and CNNMoney have spotlighted the incentives [...]
There’s both good news and bad news on the foreclosure front. The good news? According to RealtyTrac’s Year-End 2011 U.S. Foreclosure Market Report™, total U.S. foreclosure activity and the foreclosure rate were both at their lowest annual level since 2007. The bad news? Foreclosure levels were artificially lowered due to delays following the robo-signing scandal. [...]
On Jan. 4, Federal Reserve Chairman Ben Bernanke sent a letter and white paper to Congress outlining his insights and recommendations on restoring the health of the U.S. housing market. Among the key findings on current market conditions: Housing prices remain 33% below their early 2006 peak Currently, 1 in 5 mortgage holders are underwater [...]
With 1 in 10 homeowners not paying their mortgage—and Major Lenders predicting huge increases in short sale closings in 2012—savvy agents are finding new and creative ways to find and attract distressed property listings. A great place to start your outreach campaign is a list of NODs. Notices of Default, or NODs, are legal notices [...]
On Dec. 21, the Office of the Comptroller of the Currency released its latest report, which shows delinquencies remained elevated during the third quarter of 2011. The number of new foreclosures increased by 21 percent during the quarter, partly due to servicers lifting the voluntary “foreclosure freeze” implemented in late 2010 as a result of [...]
The holiday season should be a magical time of year. However, for a growing number of families, the usual holiday celebrations are trumped by financial troubles, foreclosure and the looming threat of eviction. Fannie Mae and Freddie Mac offered some relief to such families by announcing an “Eviction Moratorium” through January 2, 2012. During this [...]
In an effort to reduce cycle time and improve customer service, Bank of America (BOA) announced several changes to their Home Affordable Foreclosure Alternatives (HAFA) short sale process, which agents should be aware of. Highlights include: When a short sale is submitted with an offer and the homeowner is HAFA eligible, BOA will no longer [...]
Alex appears on Fox News to answer the question “How do we turn the housing market around?”
The BOA “How and When to Submit a Short Sale Back Up Offer” Guide takes you step by step through the new process for back up offers in Equator.
In an unprecedented program, one of the nation’s largest mortgage investors is reaching around its servicers and engaging with Realtors directly in an effort to get more short sales closed. Traditionally, investors are neither seen nor heard in the short sale transaction. Through Fannie’s new Short Sale Assistance Desk, a direct connection between the investor [...]
Special Industry Broadcast Fannie Mae takes major steps to improve the short sale approval process for agents! Thursday, June 23 at 4:00 pm EDT With the recent launch of the Fannie Mae Short Sale Assistance Desk, agents now have a new resource to resolve issues that are slowing down – or stopping – their Fannie [...]
SPECIAL REAL ESTATE INDUSTRY BROADCAST Exclusive Interview with the US Treasury’s Director of Policy for Homeownership Preservation Office, Laurie Maggiano! You and the Treasury Department Have the Same Goal … to Close More Short Sales in 2011! Join us for an exclusive interview with Laurie Maggiano, Director of Policy in the Office of Homeownership Preservation, [...]
We’ve long said that the foreclosure crisis is not limited to the United States; it is a global issue. Here in the U.S., there has been little attention paid to the challenges other countries around the world are facing today. That’s why we couldn’t be more excited to announce the launch of CDPE South Africa. [...]
SPECIAL REAL ESTATE INDUSTRY BROADCAST Exclusive Interview with Bank of America Short Sale Exec Kim Dawson Bank of America recently announced a major change in the way they work with agents – positioning themselves to approve short sales within two weeks of an offer. Join us for a LIVE BROADCAST as Distressed Property Institute CEO [...]
We are excited to announce Bank of America Home Loans Retail Sales Executive Matt Vernon will present at our annual Momentum 2011 Conference taking place June 1-3, 2011, in Orlando, Florida. Given the accelerated infusion of investor dollars into the residential real estate market, Vernon will share his insights on the loan options, processes and [...]
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