May 2011 Blog Posts (46)

Advanced certification with Equator

Has anyone gone through the advanced Certification with Equator.  And, if so, is it worth it?  Seems kind of expensive.....unless it actually helps!  Thanks!  Jane

Added by Jane Schippers on May 3, 2011 at 9:04am — 3 Comments

Florida Attorney General Files Charges Against Three Companies For Collecting Upfront Fees For Loan Mods....

From the FAR newsletter:

Fla. files lawsuits for foreclosure rescue fraud TALLAHASSEE, Fla. – May 3, 2011 – Florida Attorney General Pam Bondi’s office filed a lawsuit on Friday against three South Florida companies that allegedly charged upfront fees for loan modification services to homeowners facing foreclosure. Charging upfront fees is illegal under Florida Statute 501.1377.



The three companies are:… Continue

Added by Bryant Tutas on May 3, 2011 at 8:27am — 1 Comment

Short Sale – An Investment Perspective

Investors often tell me that they own a home, tenants left or are not paying their rent, and the property is not cash flowing (mortgage is more than the rental income). What is an investor to do? Most tell me that they have put in too much money to let the house go via short sale or foreclosure. Without knowing the actual financials of a situation, it is worth considering whether the time value of money makes a short sale a better option than holding on until the market recovers. To illustrate,… Continue

Added by NextGEN Real Estate Corp. on May 3, 2011 at 6:32am — No Comments

What if offer is higher than HAFA Approval amount?

I received a HAFA Program Approval for my client today.  We already submitted an offer for more than the amount requested in the HAFA approval.  Will the fact that the offer is higher than HAFA's requested amount have any impact on the approval?

Added by Donna Clayton, Broker, MBA on May 2, 2011 at 1:38pm — 1 Comment

Banks Quaking at U.S. Treasury Department Oversight

Finally, distressed homeowners and those looking to modify their loans are getting a chance to shake up the banks thanks to the US Treasury. Shock waves are rolling though the banking community as the Treasury Department causes fissures in the banks cavalier handling of underwater homeowners.

Complaining to the Treasury Department forces the bank to expedite your request for a loan mod because the Treasury Department can shut a bank down. Your bank can be fined and is quaking over the… Continue

Added by NextGEN Real Estate Corp. on May 2, 2011 at 7:17am — 2 Comments

Hope this doesn't happen to you, Beware of out of area Realtors;

I got an offer in January from an out of area Realtor on a duplex I had listed as a short sale.  I thought this was kinda strange they never saw the property that I knew of.  I figured maybe they where related to a tenant.

 

The beginning of April we had gotten approval. With no deficiency to sellers.  My seller had been difficult to deal with from the beginning, getting info to submit price changes, signing the offer, ect.

 

The buyer/Realtor told me she was new…

Continue

Added by Anita S Zahn on May 1, 2011 at 11:30am — 1 Comment

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