Megan Brooks
  • Rhode Island
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Megan Brooks's Discussions

Mortgage Debt Forgiveness Act Extension?

Started this discussion. Last reply by Hericson Torres Nov 5, 2013. 8 Replies

Could January 1st, 2014 really be the end of it? Anyone have any insight? I looked on the status of the bill and it says only a 1% chance of getting passed. This is unsettling. Thoughts/comments/ect. Continue

Tags: short, sale, hafa, debt, mortgage

FNMA---They are terrible (Part 137)

Started this discussion. Last reply by Brett Goldsmith Nov 15, 2014. 5 Replies

I know everyone is having issues with FNMA's incredibly ridiculous values. Has anyone or does anyone have a contact and FNMA that may be able to put some human element into a sale I am working on? I…Continue

Tags: sale, help, short, fnma, mae

WAS HAFA EXTENDED?

Started this discussion. Last reply by Sue Hweamel Feb 7. 14 Replies

Hello!My negotiator at BofA just told me that HAFA no longer exists. I thought it had been extended. Isn't this something the banks should know or are they trying to get away with things. Anyone here…Continue

Tags: SALES, SHORT, HAFA

 

Megan Brooks's Page

Latest Activity

Sue Hweamel replied to Megan Brooks's discussion WAS HAFA EXTENDED?
"Hi All, I was advised by Ditech that HAFA $10,000 incentive bonus expired December 31, 2016 and now has reverted to $3000 relo bonus only. Has anyone else heard of this?"
Feb 7
Brett Goldsmith replied to Megan Brooks's discussion FNMA---They are terrible (Part 137)
"@ P. Simms What type of fraudulent practices are your referring to? Please elaborate so we can provide a better response for you. Brett@ishortsalenow.com 310-564-6389 www.ishortsalenow.com"
Nov 15, 2014
P. Simms replied to Megan Brooks's discussion FNMA---They are terrible (Part 137)
"Does anyone have experience dealing with Fannie Mae and their fraudulent practices?"
Nov 15, 2014
Ray Pearson replied to Megan Brooks's discussion FNMA---They are terrible (Part 137)
"I know this is an old post but nothing has changed. These people are totally clueless and worse yet they don't care, and yes I'm dealing with Yolanda Walker I have an engineers report that they refuse to look at-this home has been on the…"
Nov 7, 2014
Megan Brooks joined Wendy Rulnick's group
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PHH Mortgage Solutions

PHH Services mortgages for many companies.This group is for information, tips and solutions for PHH short sales.See More
Nov 12, 2013
Hericson Torres replied to Megan Brooks's discussion Mortgage Debt Forgiveness Act Extension?
"I would rather benefit from the tax write-off if I were the bank! Most homeowners will qualify for the insolvency shield. Time to line yourself up with a local accountant who knows the mortgage debt forgiveness rules and insolvency calculations.…"
Nov 5, 2013
Wayne Brooks replied to Megan Brooks's discussion Mortgage Debt Forgiveness Act Extension?
"Danielle, as you pointed out the MDRA deals with the tax implications of Forgiven Debt. If a bank forgives the debt and issues a 1099, they can Not also pursue the deficiency....it's one or the other."
Nov 5, 2013
Danielle Petroske replied to Megan Brooks's discussion Mortgage Debt Forgiveness Act Extension?
"@ Ron, Yes, they are 2 different issues, but they do relate to each other for the fact that Under the Act, taxpayers may exclude debt forgiven on their qualified principal residence up to $2 million ($1 million for a married person filing a…"
Nov 5, 2013
Jeff Payne replied to Megan Brooks's discussion Mortgage Debt Forgiveness Act Extension?
"It will make very little difference as most will be covered by IRS insolvency rules.  Not a big deal in my opinion"
Nov 5, 2013
Danielle Petroske replied to Megan Brooks's discussion Mortgage Debt Forgiveness Act Extension?
"My fingers are crossed for an extension. I have not had any insight of an Extension into 2014.  I have been seeing, in MN, a huge decrease of short sales and foreclosures in 2013.  Many banks (this past year) have been denying short sales…"
Nov 5, 2013
Shawn Wilkinson replied to Megan Brooks's discussion Mortgage Debt Forgiveness Act Extension?
"This is overblown. Most distresed homeowners will be covered by the insolvency clause afforded to them by the IRS. Look it up along with form 982.  Strategic defaulters should be concerned but not the typical distressed homeowner. "
Nov 5, 2013
Megan Brooks posted a discussion

Mortgage Debt Forgiveness Act Extension?

Could January 1st, 2014 really be the end of it? Anyone have any insight? I looked on the status of the bill and it says only a 1% chance of getting passed. This is unsettling. Thoughts/comments/ect. See More
Nov 5, 2013
Kevin - Greenville, SC replied to Megan Brooks's discussion WAS HAFA EXTENDED?
"Remember HAFA Treasury only applies to non Freddie, Fannie, FHA, VA and USDA Loans."
Nov 4, 2013
Kevin - Greenville, SC replied to Megan Brooks's discussion WAS HAFA EXTENDED?
"In Supplemental Directive 12-02, Treasury announced it was extending the deadline for eligibility in MHA, including HAFA. This Supplemental Directive amends such guidance to provide that in order for a loan to be eligible for HAFA a written request…"
Nov 4, 2013
Ray Pearson replied to Megan Brooks's discussion WAS HAFA EXTENDED?
"f you go to http://homeloanhelp.bankofamerica.com/en/assets/documents/HAFA-policies_Bank-of-America.pdf Then scroll down you will read  Program Expiration Date: You must submit a written request (mail, fax, or email) for…"
Nov 4, 2013
Ray Pearson replied to Megan Brooks's discussion WAS HAFA EXTENDED?
"Simon, where did you get this information from?"
Nov 4, 2013

Profile Information

First Name
Megan
Last Name
Brooks
Are you a...
3rd Party Negotiator
State
Rhode Island
City
Lincoln

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