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Please help

I need an attorney to fight this.

I am a buyer on a shortsale property that was transfered from BOA to NationStar/Auction.com.

I was told by Auction.com that since I wrote an offer on this property I should wait until Auction is finalized.

Once they know the final bid they will offer it to me and if I was not interested they will sell it to the bidder.

Yeasteday the property gone through online auction with auction.com and I watched it and the final bid was 200K

My offer was 180K

I contacted Auction.com to let them know that I will buy the property with 200K price and the customer service told me that I lost my chance of purchasing this property since I did not bid on it. I was tols to wait and now I am told I should have bid on it.

The shortsale department is closed today.

 Does anyone have any info on the extension of the of this? It is due to expire end of this year I beleive. My tax guy thinks it will be extende at the end of this year.

Bryan.

American Homeowner Preservation (“AHP”)  announced today the acquisition of 128 non-performing mortgage and REO assets on October 31, 2013. The assets are located nationwide in over 20 states, from California to Florida.AHP utilizes private investors to fund acquisitions of distressed assets from both banks and hedge funds. By taking control of the mortgages or  REOs, AHP can craft viable solutions to keep families in their homes with reduced payments and discounted principal options.  Thus far, AHP has cut monthly payments by an average of almost 40% and provided discounted settlement options to families at amounts averaging less than their half of prior mortgage balances.”We buy these assets at significant discounts. By passing on a good chunk of these discounts to the homeowners, we are able to provide transformative solutions,” said AHP’s Founder and CEO Jorge Newbery. Alternately, if the home is vacant or the family does not want to stay, AHP offers incentives to homeowners to cooperate with deeds in lieu of foreclosure or short sales in order to promptly return the homes back to service. “A vacant home can blight a neighborhood.  Every time we break the gridlock and get a vacant home back into service, that is a big step forward for a neighborhood. Many times, some of these homes have been vacant for years,” Newbery said

AHP is currently crowdfunding to acquire an additional 249 assets for $5,660,000. Interested investors can review the offering at www.ahpinvest.com.  Investors can earn 9% for one year investments, 10.2% for two years and 12% for five years.  “We look forward to keeping more and more struggling families in their homes with realistic long-term solutions, while providing our investors the ability to earn favorable returns in a socially responsible manner,” AHP Chief Operating Officer Verria Kelly added.

American Homeowner Preservation can be contacted at (800) 555-1055 or www.ahpinvest.com.

Nations is the 1st, PNC is the 2nd - prior to that BoA was first - was under contract for $585k - BoA would have received a full pay-off if not for the added $117k fees but BoA accepted the offer but would only allow $8k to PNC (UPB was $226k) - PNC wanted $68k & said realtors, buyers or sellers could make up the difference!  Could not get PNC to budge & BoA would not pay more - deal was dead, taken off market. Now Nations acquired the note from BoA and wants seller to list the house. Nations is willing to pay 6% of PNC's UPB. Talked to PNC and was told they do not have a set amount and could not give a definitive answer until they have a contract.  The other point is, if the IRS pursues the sellers for the "earned income" then sellers could not afford to pay that either - also, there is a tax lien of approx $48k. So, would I be wasting my time again or should I refer this out to a company that has better coneections than I do or simply tell the seller to let it go to foreclosure? Today, the house is actually worth about $625k so I do think we can get more than we did last year. Thanks!

If you are in a real estate market that is going strong and values are increasing then this applies to you. My reliable sources have informed me that Fannie Mae will counter your offer above what their BPO or appraisal came in at.

As of November 1, 2013 they are instructing servicers to submit  all offers to them where the net proceeds are less than what they have required They are stating that they want the sales price to be inline with how their REO's are handled.

They are also instructing BPO agents to give them a 6 month "projected" value and that's what they will counter. So, for example, if a property will appraise today for $250,000.00 and the current market is growing at 2% per month, FM will counter at $300,000.  And then you have to go through the value dispute battle through the Homepath website  and that could take 3-4 weeks.. Totally ridiculous

The Wisconsin housing statistics are in for September of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin home sales were very strong in September, continuing the robust pace that has characterized the year. Sales of existing homes were up 15.8 percent in September compared to that same month in 2012 — representing a 13.6 percent increase through the first nine months of the year. Median prices posted similar gains, increasing a very solid 6.7 percent in September relative to September 2012 — an increase of 7.8 percent year to date compared to the first nine months of 2012. Home sales have now been up for 27 straight months and median prices have consistently grown in all but one of the past 19 months.

“As we move out of the summer selling season, this growth in home sales is remarkably strong and shows signs of growing even stronger,” said Steve Lane, chairman of the WRA board of directors. “We need to remember that this growth in home sales is occurring even as mortgage rates are up by almost a full percent compared to where they were this time last year, and state job growth has been modest at best,” he said.

All regions saw their existing home sales grow by double-digit margins in September, compared to September 2012, with three regions increasing more than 19 percent, and the remaining three in the range of 11 to 15 percent. The areas with the strongest growth in September were the Central region, which was up 21.7 percent relative to last September, followed closely by the North and South central regions, which grew just over 19 percent for the period. The West region increased 14.9 percent; the Southeast grew at 14 percent, and the Northeast region increased 11.5 percent over the period.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. September was no exception.

I'd be happy to show you any homes currently listed for sale. Feel free to visit Janesville, WI Home Listings for Sale to search for current properties listed in the Janesville area or visit Madison, WI Homes for Sale for MLS Listings in the Madison area.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

The Global Impact Investing Network defines Impact Investing as

 ”Investments that aim to solve social or environmental challenges while generating financial profit. Impact investing includes investments that range from producing a return of principal capital (capital preservation) to offering market-rate or even market-beating financial returns. Although impact investing could be categorized as a type of “socially responsible investing,” it contrasts with negative screening, which focuses primarily on avoiding investments in “bad” or “harmful” companies – impact investors actively seek to place capital in businesses and funds that can harness the positive power of enterprise.”

What does this all mean when talking about American Homeowner Preservation?

CEO Jorge Newbery looks at homeowner documents in the Chicago office

When AHP first started five years ago in Cincinnati, Founder and CEO Jorge Newbery wanted to find a solution to the foreclosure crisis working one-on-one with homeowners and their lenders.  Today, headquartered in Chicago, AHP is working with investors to purchase pools of discounted mortgages to help keep families in their homes while also generating strong returns.

The process begins with investors investing with AHP to purchase pools of discounted mortgages from banks. Once the full amount of the pool is raised investors begin to receive returns on their investment based on the Class they chose. Then AHP works with homeowners to find a viable solution for them. Solutions may include loan modifications, short sales, or a Deed in Lieu.

Although there are many working parts, AHP is able to provide an investment opportunity to investors that generate above-market returns and also a measurable social impact. The AHP solution to the foreclosure crisis offers an innovative and multifaceted approach to decision-making on investments, which can offer investors robust and inclusive financial gains as well as social benefits. AHP is able to offer measurable social and financial returns to investors aligning it with Global’s definition of Impact Investing.

AHP’s efforts thus far has helped more than 400 families stay in their homes and extinguished more than $40 million in negative equity. The current offering of 249 assets is being acquired for $5,660,000 and has an estimated value of Real Estate Collateral at $14,772,615.

To learn more about our process and investment opportunities visit https://ahpinvest.com/

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 https://www.ahpinvest.com features over 200 assets being purchased for less than 40% of the current value of the homes. “If a borrower owes $100,000 and the home value is now $50,000, we can buy that loan for $20,000. This big discount enables AHP to deliver borrower-friendly solutions for families, while concurrently generating attractive returns for investors,” said Jorge Newbery, AHP’s Founder and Chief Executive Officer. AHP offers a 9% annual return for investments of up to one year, 10.2% for two years and 12% for five years.

Crowdfunding and the recently-enacted JOBS Act enable AHP to connect directly with private investors and bypass the fee-generating bureaucracies of Wall Street. “Now, we can offer attractive returns directly to investors, who can share in the positive impact these investments have on families and communities,” added Newbery. American Homeowner Preservation makes impact investing easy and convenient utilizing a secure online investing community. “The AHP model is scalable, repeatable and provides strong returns to investors and life-changing financial transformations for families,” says Newbery.

4.4 Million families have lost their homes since the foreclosure crisis began in 2008 and over 12 Million families owe more than their homes are worth. “All these underwater mortgages will remain a drag on families, communities and the nation until they are resolved. AHP and our investors are a component of the solution,” said AHP’s Business Development Director Alison Lundberg.