Blog Home > Alex Charfen
Last month, Bank of America announced a pilot program that will provide some distressed property homeowners with a new foreclosure alternative. This new “Mortgage to Lease” program will allow homeowners facing foreclosure to remain in their homes by converting from home ownership to rental. In this program, participating homeowners will transfer their home titles to [...]
ATTENTION Agents! In October’s CDPE Industry Broadcast with Bob Hora, SVP Mortgage Servicing Executive at Bank of America Home Loans, Hora affirmed Bank of America’s commitment to streamlining their short sale process. In keeping with this commitment, Bank of America is simplifying their third-party authorization process for short sales. On March 20, Bank of America [...]
I just finished reading “Take the Stairs” by my good friend Rory Vaden, which recently hit these bestseller lists: #1 on Amazon worldwide #1 on Barnes and Noble all categories #1 on USA Today business #1 on Wall Street Journal hardcover business #2 on New York Times hardcover Finally someone has convincingly and definitively taken [...]
Current studies show that over 6 million homeowners in the country are potentially facing foreclosure. However, initiating the conversation to find out if a homeowner needs your services can sometimes be uncomfortable or even offensive. That’s why we have a refined a script that works well in any situation, whether you are on the phone [...]
Mortgage modification scams made the list of the Better Business Bureau’s Top Scams of 2011, with more than 20,000 complaints. Sadly, there are countless organizations out there preying on desperate homeowners. That’s why trained, qualified real estate agents are needed now more than ever. The nationwide network of more than 35,000 CDPE-designated agents has helped [...]
Fannie Mae revealed its new Unemployment Forbearance Program, which mortgage servicers are required to implement by March 1 for all Fannie Mae-owned and backed loans. Servicers can now provide up to six months of relief for eligible unemployed borrowers without Fannie’s review and approval. Borrowers may also apply for an additional six months of forbearance, [...]
Effective Feb. 1, Freddie Mac is giving mortgage servicers expanded authority to provide six months of forbearance to unemployed mortgage holders without prior approval, and an additional six months (12 months total) with prior approval. This new policy essentially doubles the previously offered forbearance period. It’s important to note: This applies to Freddie Mac-owned or [...]
In an effort to shorten overall cycle times, Bank of America has reduced the window for submitting a backup offer on a short sale from 14 days to eight days after the initial offer becomes invalid. Once a backup offer becomes necessary: Contact your short sale specialist immediately to let him or her know you [...]
On Thursday, Veros Real Estate Solutions released its VeroFORECAST real estate market forecast for the 12-month period ending Dec. 1, 2012. Their findings indicate “the national housing recovery will continue to be gradual and slow without any significant changes in markets.” Veros predicts up to four percent appreciation in the strongest markets, including Fargo and [...]
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 [...]
Sometimes we reach our greatest successes when we refuse to accept our failures as just that. In a revealing profile, the Westlake Picayune’s Dale Anderson takes an in-depth look at our founders Alex and Cadey Charfen’s humbling fall into bankruptcy and triumphant rise to success. After riding high on the South Florida housing boom, the [...]
Our CEO Alex Charfen is quoted in a recent New York Post article on the growing popularity of short sales as a viable option for homeowners who are underwater on their mortgages. The article references major lenders—including Bank of America, JPMorgan Chase and Wells Fargo—that are offering cash incentives at closing for distressed homeowners who [...]
Alex Charfen and Bank of America’s Bob Hora during industry-wide broadcast When the book is written on how our country emerged from the foreclosure crisis, chances are that Bank of America’s broadcast from the Charfen Institute studio last week will be cited among the turning points. If any of you missed my interview with Bob [...]
“Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has.” Margaret Mead This week’s announcement that CDPE trained agents have surpassed the 35,000 mark is a significant milestone in the recovery of our country’s real estate market. 35,000 thoughtful, committed agents [...]
When the Obama Administration announced a series of changes to the Home Affordable Refinance Program (HARP) early this week, our phones started ringing with inquiries from the media for our input concerning the impact. And we had even more questions about HARP during our CDPEAdvanced Broadcast yesterday afternoon. The new HARP is by no means [...]
Enter Email to Subscribe to RSS Feed
