Tag-Archive for » Short Sale «
17
May 2012
May 2012
(TheNicheReport) — The mortgage principal reduction provision of the 2012 foreclosure settlement agreement between state attorney generals and major American mortgage lenders has been generally well-received by homeowners, politicians, and some economists. There are, however, some valid concerns about the potentially negative impact that this provision could have on some sectors of the economy. The [...]
06
Apr 2012
Apr 2012
On April 2, Bank of America announced the latest round of changes to their short sale process. The changes, aimed at streamlining and expediting the process, include new requirements for initiating a short sale and changes to Equator. Beginning April 13, 2012, Bank of America will require the following five forms to be submitted to [...]
04
Apr 2012
Apr 2012
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 [...]
Category: Bank of America, Foreclosures, Short Sale News
Tags: Alex Charfen, BOA, CDPE, certified distressed property expert, Charfen Institute, distressed properties, distressed property, DSNEWS FEED, foreclosure, Free Info, homeowner, In The Media, investors, real estate market, Short Sale, Short Sale Info, short sales, underwater mortgages
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22
Mar 2012
Mar 2012
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 [...]
Category: Bank of America, Foreclosures, Short Sale News
Tags: Alex Charfen, BOA, CDPE, certified distressed property expert, Charfen Institute, distressed properties, distressed property, DSNEWS FEED, foreclosure, Free Info, homeowner, Industry, Short Sale, Short Sale Info, short sales
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26
Feb 2012
Feb 2012
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 [...]
Category: Foreclosures, Short Sale News
Tags: cash incentive, CDPE, certified distressed property expert, distressed properties, distressed property, Distressed Property Institute, DSNEWS FEED, foreclosure, Free Info, HAFA, homeowner, Industry, real estate market, Short Sale, Short Sale Info, short sales, underwater mortgages
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14
Feb 2012
Feb 2012
The Obama administration announced its latest plan to help troubled homeowners, enabling an estimated 3.5 million underwater mortgage holders to refinance at today’s historically-low interest rates. However, experts speculate the proposal—which is expected to cost up to $10 billion and would be paid for by imposing a fee on major banks—could have a difficult time [...]
Category: Foreclosures, Short Sale News
Tags: CDPE, certified distressed property expert, Charfen Institute, distressed properties, distressed property, DSNEWS FEED, foreclosure, Free Info, government, homeowner, In The Media, Making Home Affordable, real estate market, Short Sale, Short Sale Info, short sales, underwater mortgages
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10
Feb 2012
Feb 2012
Yesterday, the Justice Department and 49 out of 50 state Attorneys General announced a settlement agreement with 5 of the nation’s largest banks in the Robo-signing and Mortgage Service Fraud scandal that first came to light in late 2010. The settlement, worth $25 billion dollars, was the largest government negotiated industry settlement since the Tobacco [...]
Category: Foreclosures, Short Sale News
Tags: CDPE, certified distressed property expert, Charfen Institute, distressed properties, distressed property, DSNEWS FEED, foreclosure, Free Info, government, homeowner, In The Media, Industry, Regulation, Robo Signing, scandal, Short Sale, Short Sale Info, short sales
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03
Feb 2012
Feb 2012
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 [...]
18
Jan 2012
Jan 2012
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. [...]
Category: Bank of America, Foreclosures, Short Sale News
Tags: BOA, CDPE, certified distressed property expert, Charfen Institute, distressed properties, distressed property, Distressed Property Institute, DSNEWS FEED, foreclosure, Free Info, government, Industry, real estate market, realtytrac, Robo Signing, scandal, Short Sale, Short Sale Info, short sales
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12
Jan 2012
Jan 2012
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 [...]
Category: Foreclosures, Short Sale News
Tags: Alex Charfen, CDPE, certified distressed property expert, Charfen Institute, distressed properties, distressed property, DSNEWS FEED, foreclosure, freddie, freddie mac, Free Info, homeowner, Industry, servicers, Short Sale, Short Sale Info, short sales, underwater mortgages
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11
Jan 2012
Jan 2012
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 [...]
06
Jan 2012
Jan 2012
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 [...]
Category: Foreclosures, Short Sale News
Tags: Alex Charfen, Ben Bernanke, CDPE, certified distressed property expert, Charfen Institute, distressed properties, distressed property, Distressed Property Institute, DSNEWS FEED, Federal Reserve, foreclosure, Free Info, government, homeowner, In The Media, real estate market, Regulation, reo, Short Sale, Short Sale Info, short sales, underwater mortgages
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03
Jan 2012
Jan 2012
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 [...]
Category: Foreclosures, Short Sale News
Tags: CDPE, certified distressed property expert, Charfen Institute, distressed properties, distressed property, Distressed Property Institute, DSNEWS FEED, foreclosure, Free Info, homeowner, lenders, real estate market, servicers, Short Sale, Short Sale Info, short sales, underwater mortgages
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27
Dec 2011
Dec 2011
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 [...]
Category: Foreclosures, Short Sale News
Tags: CDPE, certified distressed property expert, Charfen Institute, distressed properties, distressed property, Distressed Property Institute, DSNEWS FEED, forclosures, foreclosure, Free Info, Industry, realtytrac, reo, Robo Signing, servicers, Short Sale, Short Sale Info, short sales
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19
Dec 2011
Dec 2011
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 [...]
Category: Foreclosures, Short Sale News
Tags: CDPE, Charfen Institute, distressed properties, distressed property, Distressed Property Institute, DSNEWS FEED, fannie, Fannie Mae, foreclosure, foreclosure freeze, foreclosure moratorium, freddie, freddie mac, Free Info, freeze, homeowner, Industry, real estate market, Short Sale, Short Sale Info, short sales
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07
Dec 2011
Dec 2011
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 [...]
18
Nov 2011
Nov 2011
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 [...]
Category: Bank of America, Foreclosures, Short Sale News
Tags: Alex Charfen, BOA, cash incentive, CDPE, distressed properties, distressed property, DSNEWS FEED, foreclosure, Free Info, In The Media, Industry, JPMorgan Chase, lenders, real estate market, Short Sale, Short Sale Info, short sales, underwater mortgages, Wells Fargo
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16
Nov 2011
Nov 2011
(Photo courtesy of IowaPolitics.com) In a recent blog post, CNBC’s Diana Olick slams the Republican presidential candidates’ plans for solving the nation’s housing crisis. Political beliefs aside, Olick makes some astute observations regarding the bank’s preferences for short sales over foreclosures and the important role that Fannie Mae and Freddie Mac play in keeping [...]
07
Oct 2011
Oct 2011
Courtesy of The Palm Beach Post, comes some fresh news for Florida, offering up to $20,000 to short sale vs. foreclosure. The limited time offer has received little promotion from the Charlotte, N.C.-based bank, which sent emails to select Florida Realtors earlier this week outlining basic details of the plan. Only homeowners whose short sales [...]
Category: Bank of America, Short Sale News
Tags: BofA, DSNEWS FEED, florida, foreclosure, Free Info, Market News, reo, Short Sale, Short Sale Info, short sales
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18
Jul 2011
Jul 2011
The FTC announced Friday that it would exempt real estate agents conducting short sales from most provisions of the Mortgage Assistance Relief Services (MARS) Rule.
Category: Foreclosures, Short Sale News
Tags: CDPE, distressed property, DSNEWS FEED, Exempt, Free Info, FTC, MARS, Regulation, Rule, Short Sale, Short Sale Info, short sales
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13
Jul 2011
Jul 2011
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.
13
Jun 2011
Jun 2011
We have added six new short sale packages to our doc library, bringing us up to over 70 lender specific short sale packages! Sign in to your account today to download and view all of our short sale packages, documents, tools, and templates! Nationpoint Mortgage Wells Fargo Short Sale Package NationStar Financial Short Sale Package [...]
Category: Short Sale News
Tags: documents, DSNEWS FEED, Free Info, Product News, Short Sale, Short Sale Info, short sale package, short sales
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13
Jun 2011
Jun 2011
Anyone who’s followed the Art of Short Sales for any period of time knows that we have not been a huge fan of the HAFA, HAMP, and other government programs designed to ease the short sale process. This week’s CNN article by Diana Olick continues to prove that over a year after its inception, the [...]
Category: News, Short Sale News
Tags: analysis, DSNEWS FEED, Free Info, government, HAFA, HAMP, Market News, Short Sale, Short Sale Info, short sales
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06
May 2011
May 2011
Another Homeowner Avoids Foreclosure
We just closed another short sale in Oceanside California!
Amazingly, our client asked that we tell her story and share it with other people in her situation.
About 18 months ago our client and her husband experienced a medical hardship, and after exhausting their savings , they found themselves unable to make their mortgage payments. Once they could no longer make the payments they decided to call the lender and ask for help. Time and time [ ... ]
17
Jan 2011
Jan 2011
Came across this article from CNBC last week discussing the impact HAFA has had (read: not what was expected!) The treasure department says the following “While HAFA has been widely credited with streamlining the short sale process by setting clear timelines, documentation requirements and procedures, feedback from various stakeholders including servicers, housing counselors, realtors and others [...]
Category: Short Sale News
Tags: Bank, DSNEWS FEED, forecast, Free Info, HAFA, HAMP, lender, Market News, Short Sale, Short Sale Info, short sales, video
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17
Jan 2011
Jan 2011
Well, 2011 sure is off to a heck of a start, isn’t it? As we predicted here over and over again, the short sale marketplace is going to continue to be an important part of the still-stagnant housing recovery for the foreseeable future. So if you aren’t up to par on what you are doing, [...]
Category: Banks, Short Sale News
Tags: DSNEWS FEED, forecast, Free Info, lenders, loss mitigation, Market News, Short Sale, Short Sale Info, short sales, volume
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07
Dec 2010
Dec 2010
TALEGA REAL ESTATE INFO
STATUS
ADDRESS
CITY
AREA
BEDS
BATHS
TRACT
SALE DATE
DAYS ON MKT
$$$ TYPE
LIST PRICE
SALES PRICE
Closed Sale
30 Via Timon
San Clemente
Talega
5
4
11/16/10
31
Conventional
$799,000
$826,000
Closed Sale
17 Calle Saltamontes
San Clemente
Talega
4
3
Sansol
11/17/10
219
Conventional
$790,000
$700,000
Closed Sale
17 Calle Careyes
San Clemente
Talega
5
5
Careyes
11/12/10
163
Cash
$1,300,000
$1,330,500
Closed Sale
3 Camino Lozano
San Clemente
Talega
3
3
Carmel
11/05/10
214
Conventional
$599,000
$496,000
Closed Sale
36 Calle Boveda
San Clemente
Talega
3
2
Solana
11/10/10
204
FHA Loan
$590,000
$525,000
Closed Sale
23 Calle Tejado
San Clemente
Talega
4
1
Solana
11/16/10
120
Conventional
$558,000
$520,000
Closed Sale
19 Via Destino
San Clemente
Talega
4
2
San Lucar
11/18/10
161
FHA Loan
$749,500
$735,000
Closed Sale
57 Via Cartama
San Clemente
Talega
4
3
Catania
11/09/10
108
Conventional
$1,075,000
$950,000
Closed Sale
14 Corte Javier
San Clemente
Talega
2
2
Verano
11/03/10
23
FHA Loan
$320,000
$320,000
Closed Sale
13 Via Abrazar
San Clemente
Talega
4
3
Custom
11/12/10
11
Conventional
$700,000
$770,000
Closed Sale
28 Calle Pacifica
San Clemente
Talega
4
2
Pacifica Summit
11/05/10
55
Conventional
$1,195,000
$1,190,000
Closed Sale
31 Calle Viveza
San Clemente
Talega
3
2
Trinadad
11/09/10
48
VA Loan
$389,900
$390,100
Closed Sale
207 Via Malaga
San Clemente
Talega
5
2
Terra Linda
11/15/10
52
Conventional
$779,500
$762,500
San Clemente Real [ ... ]
Category: Short Sale News
Tags: 92672, 92673, buyer, community, master planned community, michaeledward cruz, Real Estate, seller, Short Sale, Talega
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29
Nov 2010
Nov 2010
Short Sale Killers # 1 – Video and Text Versions see below
“No Cooperation”
This is the BIGGEST reason why short sales fail. Why do I know this? Because when I jumped into this game I was working on these deals ‘alone’. Yes I was working on short sales alone because no one was willing to do anything to close these deals but me. I was working with the lender, I was cutting my commission, I was calling and calling to get paperwork from sellers who would take weeks to send it, I was trying to keep the buyer on board. Man, [ ... ]
Category: Short Sale News
Tags: 92009, 92010, 92011, Carlsbad homes for sale, Carlsbad Real Estate, certified short sale specialist, coastal real estate, homes for sale, michael-edward cru, prevent foreclosure, san diego, Short Sale, www.carlsbadrealestatebroker.com, www.mikerebroker.com, www.shortsalemc.com, z how to buy
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29
Nov 2010
Nov 2010
CNN posted an article just before Thanksgiving discussing the housing market’s continued woes, the inference to short sale investors being that short sales will continue to be a strong portion of the market for the foreseeable future. Some key facts from the article: New home sales dropped to an annual pace of just 283,000, according [...]
Category: Short Sale News
Tags: DSNEWS FEED, foreclosure, Free Info, Home Sales, Market News, Short Sale, Short Sale Info, short sales, statistics
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23
Nov 2010
Nov 2010
Interesting article courtesy of Jon Prior of HousingWire released last Friday that discusses the status of HAMP modifications and short sale statistics. Top mortgage servicers have completed 91,827 short sales or deeds-in-lieu of foreclosure on canceled trial or declined modifications through the Home Affordable Modification Program as of September, up 27% from the previous month, [...]
Category: Short Sale News
Tags: Deed in Lieu, DSNEWS FEED, Free Info, HAFA, HAMP, Market News, Short Sale, Short Sale Info
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22
Nov 2010
Nov 2010
STOP FORECLOSURE! GET INFORMATION FREE
Are you in foreclosure? Do you want to know your options but don’t want swim with the sharks?
This website may have the information you need to help you save your home. FANNIE MAY WEBSITE
If keeping your home is not an option and you need to short sale, then call us. We are certified with two major short sale designations ( CDPE and PSC ) and have invested a lot of time and money in our education in order to help you get your short sale approved.
Call now to see if [ ... ]
08
Nov 2010
Nov 2010
Late last week; there was quite a ruffle up in the Internet about copyright violation and plagiarism related to Cook’s Source Magazine. It’s quite an interesting story and speaks to the understanding of copyright and content ownership on the Internet. The reason I bring it into the Art of Short Sales blog is that many [...]
Category: Short Sale News
Tags: Blog, blogging, DSNEWS FEED, Education, Free Info, marketing, plagiarism, Short Sale, Short Sale Info, short sales
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02
Aug 2010
Aug 2010
We are proud to provide the following…
Supplemental Directive 09-09 November 30, 2009
Introduction of Home Affordable Foreclosure Alternatives – Short Sale and Deed-in-Lieu of Foreclosure
CLICK HERE TO DOWNLOAD YOUR FREE COPY
Michael-Edward Cruz
California Real Estate Broker
01758933
02
Aug 2010
Aug 2010
//
(function() {
var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true;
ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js';
var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s);
})();
// ]]>
26
Jun 2010
Jun 2010
HOPE!
wikipedia defines hope as:
“A belief in a positive outcome related to events and circumstances in one’s life. Hope is a feeling that something desired may happen, when the outlook may or may not warrant it.”
When I traded stocks I was taught that four letter words hurt you as a trader more than they helped you. The main bad words were FEAR and HOPE.
FEAR kept you from fully maximizing on your trades and HOPE kept you in them long enough to pay the hefty price.
Now as a Real Estate Broker I meet people who are in [ ... ]
Category: Uncategorized
Tags: Alternatives to Foreclosure, Avoid Foreclosure, Bank of America, Banks, Carlsbad, Carlsbad Short Sale Experts, Citi bank, credit cards, Dana Point Short Sale Experts, Expert Real Estate Services, Free Consultation for Short Sale, Free Foreclosure Avoidance, Free Short Sale Help, hell, Laguna Niguel Short Sale Experts, loan mofidication, Michael-Edward Cruz, Murrieta Short Sale Experts, Oceanside Short Sale Experts, Real Estate Expert, Redhawk Short Sale Experts, San Clemente Short Sale Experts, Save my credit, Sell my home, Short Sale, Short Sale Experts, shortsale, Temecula Short Sale Experts, Top Real Estate Agent in, Troy Huerta 0
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28
Jan 2010
Jan 2010
Michael-Edward Cruz and Troy Huerta agree that Short Sale transactions will see an uptrend in 2010. Michael specializes in working with short sales South Orange County as well as communities in South Riverside County like Redhawk in Temecula California. Troy works with clients in North San Diego communities such as Carlsbad, Vista, Oceanside and San Marcos.
They are working the short sale market and giving homeowners options to avoid foreclosure. They do not charge any ridiculous “fees” to get your process started. With a high success rate, they are looking for sales that can be completed. To find out if you [ ... ]
Category: January 2010 Short Sale Info
Tags: Alternatives to Foreclosure, Avoid Foreclosure, Buy Short Sale, Carlsbad Short Sale Experts, Dana Point Short Sale Experts, Free Consultation for Short Sale, Free Foreclosure Avoidance, Free Short Sale Help, Laguna Niguel Short Sale Experts, Michael-Edward Cruz, Murrieta Short Sale Experts, no equity, Oceanside Short Sale Experts, Redhawk Short Sale Experts, San Clemente Short Sale Experts, Sell my home, Short Sale, Short Sale Experts, Temecula Short Sale Experts, Troy Huerta
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