Fannie Mae and Freddie Mac announced changes to their Servicing Guides aimed at helping more borrowers avoid foreclosure through short sales and deeds-in-lieu of foreclosure (DILs).

Some of the changes are to align with…

Bank of America's team of short sale specialists are dedicated to assisting you and your client through the short sale process. Occasionally, an issue arises that demands immediate attention or an escalation. The best way to resolve escalated issues is to follow the steps…

American Homeowner Preservation (“AHP”) today launches a crowdfunding solution to the foreclosure crisis, offering accredited investors annual returns of up to 12%. AHP purchases pools of distressed mortgages at significant discounts from banks and other lenders. The strong returns are a result of the discounts negotiated with lenders which sell their loans coupled with AHP’s formula to achieve prompt, consensual solutions with borrowers.

The first offering on …

We don't want anyone to lose their home. We don't want anyone to be forcibly displaced. There is no place for foreclosures and evictions in an intelligent society. They are symbols of moral, economic and social corruption. Unfortunately, they are of our own making. Our own craving for materialistic pleasures leads to consumerism and a system of…

Hi, I am a buyer... I submitted a bid to purchase a home in Bradenton, FL in mid January 2013. The Seller accepted. I do not have a realtor. The Seller has an Attorney and a realtor. The realtor works for the attorney's office. My contract noted that no other bids could be submitted. A BPO was completed in early April. A negotiator was assigned. It is only 1 loan. I did obtain an attorney in the area shortly after I submitted my bid. The Seller's realtor says she…

Learning more about Short Sales and having fun.

Short Sale Symposium at Sea – Always learning by …

I overheard an interesting conversation in the office yesterday. Apparently, an agent showed a rental property that was listed by another agent in the office. Of course, the listing agent asked about feedback and the showing agent excitedly mentioned that his clients were interested in the property. Their conversation quickly changed to the reasons why the prospective tenants are now choosing to rent and he mentioned that they were doing a strategic default on their…

Short sales are notorious for their duration to close. It was only years ago when we saw short sales take sometimes up to 2 years to close, causing insurmountable stress to all parties, especially to the seller. So why do short sales take so long? One could easily blame the banks for the delay. However, that accusation does not apply to most banks in 2013. Systems have been upgraded, buyers are buying, and incentives to short sell for both banks and sellers have boosted. So why would a short…

To know me is to know that I LOVE peanut butter...I love it on a spoon by itself, on bread, with jelly, without jelly, with bananas, etc...I think you get the picture.

When someone felt it prudent to mix peanut butter with chocolate.....OH MY!!!! I was in absolute peanut buttery heaven!!!!

Now that you know how I feel about the peanut butter and chocolate.......

Recently...Bank of America announced that it was…

First of all, please allow me to preface this blog post with the following statement...."I am NOT against the use of third party negotiators handling short sale transactions. There are many effective third party negotiators and some that I would even use....after a lengthy interview, of course. The actions of some third party negotiators DO NOT reflect the actions of ALL third party negotiators".

....No that I've gotten that out of the way, it's time for me to speak my mind.

We…

As short sale agents, we have to endure the craziest scenarios. If it's not the most asinine requests from some banks/servicers, then surely it's the unusual repair requests from buyers (yeah right....my Seller's selling his home via short sale, hasn't paid squat towards a mortgage in over three months...HOWEVER, he/she certainly has $10,000 to pay for new carpet and paint). My all time favorite has always involved selling a tenant occupied home.

It always starts out the…

Over the past year I have been engaged with Bank of America (“BOA”) in efforts to complete a Short Sale of my home. The Short Sale participation was approved August 23, 2012 and an “estimated closing date” of December 6, 2012 was conveyed. The continuous lack of communication, delay in communication, contradicting/incorrect information has made my experience in this process far less than favorable and severely stressful. This imposed stress was only exacerbated by the sudden and unexpected…