HAFA Short Sale Extended Through December 31, 2015
Breaking News: Just announced today... Government sponsored Making Homes Affordable HAMP and HAFA programs have been extended through December 31, 2015. Here is the Supplemental Directive 13-04 announcing: sd1304
HAMP and HARP Gets Extended for an Additional 2 Years…More Short Sales
Great News! 2 of the governments distressed homeowners assistance programs have been extended for an additional 2 years, through December 2015. The HAMP program floundered at first, however, with governmental pressures on the banks and services, to promote the HAMP...
Shadow Inventory…Short Sales…FHA…Wow!
Take a minute or two and read this article! Make sure to pay special attention to the new "servicer" requirements on these bad loans once repurchased. Servicers must be purchasing at some extraordinary prices to agree to hold the home from foreclosure for a minimum...
Wells Fargo…Current Spike in Home Prices…”Bubble within a Bust”, More Short Sales
By now you've probably heard that home prices are rising...at high rates, some even cracking the double digit rates! Ask yourself, How and Why? Easy answer...the banks (servicers) are at it again. By not pursuing foreclosure process on homeowners that don't pay, the...
Existing Home Sales Dropping…As Real Estate Agents We Feel It!
JPMorgan Chase, Bank of America, CITI and Wells Fargo to Repay Government $19Billion for 2nd Quarter Defaults
Bank of America, JPM Chase, Citi and Wells Fargo are having to repurchase their bad loans back from Freddie and Fannie. It's about time! These banks bilked billions from us...the tax payers and they have not been held accountable. What does all this mean? Fannie and...
Modification cancellations are up, Federal Foreclosure Program Struggling
Reporting from Washington — Just as the housing market recovery has stalled, so has the Obama administration's main program to ease home foreclosures. Only 36,695 homeowners received permanently lowered mortgage payments in July through the much-criticized Home...
401k Hardship Withdrawals…Loans Soar!
In the wake of news about a spike in new applications for unemployment benefits comes another potentially troubling sign: A record number of workers made hardship withdrawals from their retirement accounts in the second quarter. What's more, the number of workers...
Unemployment figures stretch from 9.5% to 22%…
The Forgotten Employer by RICH KARLGAARD In the recent August addition of Forbes magazine I came across this....interesting reading! Everyone agrees the American job picture is a disaster. Unemployment estimates from June stretch from the official 9.5% to 16.5% to a...
Homeowners Pessimistic…One-Third Say Housing Marketing Has Not Hit Bottom
Refi Boom Could Bust Smaller Banks
I realize it's August, and that's not exactly the hot season for home buying and selling, but I found today's weekly mortgage application report from the Mortgage Bankers Association particularly troubling for a few reasons. To summarize, refinance applications are...
Bank Of America To Avoid Foreclosures, Short Sales Preferred If Loan Mod Not an Option
Wednesday, August 18th, 2010, 9:30 am Bank of America pushed its total number of permanent mortgage workouts under the Home Affordable Modification Program (HAMP) to 76,300 in July, a 5.9% increase from June. The Treasury Department launched HAMP in March 2009 to...
Southern California sees a 21.4% drop in home sales from 2009
A "For Sale" sign is seen in front of a house in Hemet earlier this year. Southern California home sales were down 20.6% in July compared with June. (Gina Ferazzi / Los Angeles Times / March 17, 2010) Southland home sales fell dramatically in July as federal tax...
How Will My Taxes Be Affected By a Short Sale in Orange County?
How Will a Short Sale Affect my Taxes in Orange County? from Kim and Kris Darney on Vimeo.