Good morning Superstars.

We hope everyone had a productive week helping folks avoid foreclosure. We had a major site redesign yesterday so be sure to pop over and have a look. Let us know what you think.

This Week's Top Short Sale News

FHFA Announces Short Sale Assistance for Military Homeowners with F...

Great news for our military members!!

June 21, 2012

Under the new policy Fannie Mae and Freddie Mac will not pursue a deficiency judgment or any cash contribution or promissory note from members of the military with a change in duty station for any property purchased on or before June 30, 2012. Service members must have a Fannie Mae or Freddie Mac loan to be eligible.

READ FULL NEWS RELEASE HERE

What To Do If You Can Not Afford To Pay Your Mortgage

Posted by Marcy Moyer on June 22, 2012 at 6:30pm

J. P. Morgan Chase is quickly becoming the bank of the incompetents

Posted by Mike Cooper on June 21, 2012 at 11:09pm

WF new and improved Demand Statement 'Approval Letter"

Posted by Pattilynn Guilford on June 21, 2012 at 1:27pm

Time is Running Out: The Mortgage Debt Relief Act is ending and why...

Posted by Arthur Wainioon June 20, 2012 at 9:35am

This Week's Superstar Tip

What types of transactions are generally not covered under RESPA?

• An all cash sale

• A sale where there's private financing (seller financing, money from a family member).

• A rental property transaction or other business purpose transaction.

Now folks, if you handle Short Sales for a living this can be something you can utilize in your business. When RESPA does not apply is there anything else that would prohibit you from paying the 2nd "Off the HUD"? I don't think so. As long as the 1st agrees to it. And I question whether or not they even have to agree to it. Remember there's a difference between disclosure and agreement.

BUYER TESTIMONIAL

Our family began the journey to buy our home in October.We found a house that was perfect, except it was a short sale. We decided to make an offer. Unfortunately, we had no idea the roller coaster we were boarding. Neither agent had ever closed a Short Sale and it was BofA with a 2nd at a local bank. If we had not found Short Sale Superstars I know we would have walked away. The deal fell through once so we started over in March and finally closed Tuesday! It was wonderful to have such a wealth of information here because every situation we were up against we found information on this site. I'm sure both REALTORS (R) were sick of hearing, "from what I have read we can . . . ". Also a special thank you to Bryant who helped answer many questions in the home stretch. As a buyer of a short sale this website is amazing. Thank you for helping our family buy truly our dream home. Adam S.

Advanced Short Sale Training

This sound familiar? You’ve never had to deal with a short sale in your life – until a few years ago, when foreclosures became so common it was rare that you had a seller without one. Now you can no longer avoid short sales.

So you sign up and get your CDPE and your SFR designations. Maybe you have even closed on dozens of short sales. But still...........

......you're missing something. You are struggling when it comes to dealing with the lenders. You're stressing out over your transactions. And no one seems to be able to tell you how to do it quickly, with no stress.

Well, except us. READ THE FULL ARTICLE

REGrow, LLC and www.ShortSaleSuperstars.com does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLCtakes no responsibility for the content on these pages that are written by the members of this community.