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So it seems to be a growing trend now that a buyers lender is demanding to see the lenders full blown short sale approval letter, not just the cover page with all the terms. In the past i have always taken the approval letter and removed the SS# and Loan# for obvious reasons. I got a call yesterday from a buyers lender demanding to see all the pages of the approval letter, that clearly have no information that they would need. They told me that they are getting bombarded with Realtors who are faking short sale approval letters to keep buyers around or maybe to buy themselves some time until they get a real approval. 


I'm calling our legal hotline tomorrow when its open, but i wanted to see if anyone had ran into problems with this lately? I would hope the NAR would weigh in on the issue. Seems as though we as Realtors are opening ourselves up to all kinds of legal problems if we start giving out anything a buyers lender demands just because we have scumbags ruining it for the rest of us.



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Using data that tracks home prices through April of 2011, Case-Shiller, reported a slight bump in home values. However, hold off on popping the cork on the champagne. It’s far too early to tell if this reflects a sea change in the housing market or is simply a reflection of the spring/summer buying season.
According to Robert Shiller, an economics professor at Yale University and co-creator of Case-Shiller home price index, he has a “tinge of optimism” but doesn’t believe the crisis is over. He cites, the 1.8 million pending foreclosures slated to come to market, the debt ceiling crisis and continuing unemployment. Shiller believes the slight bump in housing for the month of April may simply be an anomaly and that there is too little data to believe this is the beginning of a turnaround.
Amazing, the power of the press. In the beginning of the foreclosure crisis, the press couldn’t stop beating the dead housing horse. Now, as we drift or in the words of Shiller continue “in the doldrums” the press seems to frantically be searching for a ray of hope.
Does the press think that the power of positive thinking can make all this housing misery disappear? If Robert Shiller doesn’t think so, then I think not.
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Why would a buyer want to use an agent?

BoardroomTable-300x191.jpg?width=200There are many obvious reasons as to why an agent or broker would be necessary when you are selling your property.  From market knowledge to pricing to marketing, an agent is a good friend to have when selling your home.

But what about the buyers side?

Does a buyer really need an agent to represent them?  Well, being a broker I would have to say yes. But I will back up my claim with some very important reasoning.

First of all buyer representation is something that is really not all that old, but came about due to a lot of buyers being taken advantage of at the closing table.  There are things that a normal buyer really isn’t privy to nor should they have to be.  That is where a good agent representing the buyer earns their share.  They are there to protect the interests of the buyer and negotiate the best possible price for the property being purchased.

A good buyer agent will walk their buyers through the entire process and make sure that they understand the ins and outs of what is going on and why.  They are there to make sure that the correct inspections are requested and completed, they are there to make sure that any repairs that need to be done are done, and they are there to make sure that when the keys are handed over, both parties are walking away feeling good about the deal.

A buyer’s agent should be able to let their clients worry about other things rather than all the technical aspects of purchasing a home.  Buying a home should be fun and exciting, rather than stressful and unpleasant.

A good buyers agent will always work for their clients best interests, negotiate the best price and terms of a contract, see that all inspections and repairs are requested and completed on time, and will make sure that there is a smooth transition at the closing table.


Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
Direct Line: 704-619-1008
Client Care Line: 704-815-3208

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Lesson learned regarding HAFA and B of A

Although we have done and successfully closed MANY short sales we will admit its ALWAYS a learning experience as the processes continue to change and new programs role out.....

Recently my partner and I were working a short sale with B of A thru equator.  Long story short we had it approved and the first buyer walked away.  We quickly got it back under contract.  The 2nd time around, after inputing all documentation in equator (initiating the short sale and uploading all documents under the library tab) we called the main line to confirm we were on track.  The representative stated the homeowner needed to call in to process the short sale further, which from our experience was rather normal.  The seller called in and discussed the short sale. Unbeknownst to us the B of A representative suggested to the seller to try and do the HAFA.  The seller told us of this and we said ok but was not sure if they would qualify.  


In the end what happened was the seller did NOT qualify and the banks suggestion to do HAFA was strictly without them pre-qualifying them to meet HAFA's requirements.  In this situation the seller hadn't lived in the property for 12 months exactly, which is one of the main requirements (must have resided in the home the past 12 months).


Lesson learned, which is when your clients call in make sure you see if they qualify for HAFA because B of A will NOT go thru the program in detail with the seller and also won't advise them on if they qualify.  So its our duty to understand each and every process and qualification for HAFA.

In the end we had to have the HAFA file declined in equator so we could initiate a traditional short sale on equator.  

So for some reason there two departments don't speak to each other, so we had to put everything back in and start over.  


Just wanted to share so you also don't get into the same situation of trusting that the B of A representatives are educated enough to advise our clients on HAFA.


Good luck!


Brett Hultberg and Doug Emerick

B & D Real Estate Group

480-510-8941 or 602-790-4963 or

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What Does Waiting On MI Approval Mean?

Hi Broker Bryant. What does MI stand for? And why am I waiting on MI approval?

MI stands for Mortgage Insurance. The Mortgage Insurance Company is a major decision maker with a Short Sale. They are the ones insuring the loss. There are usually 3 entities involved in the Short Sale decision making process.

The Lender/servicer:

  • The Short Sale request is submitted to the servicer (lender). This is Bank of America, Chase, Wells Fargo etc.. This entity is the one that lent the money or bought the servicing of the loan later. This is who Borrowers/sellers make their payments to. They take NO loss in a Short Sale as the loan was already sold to the Investor.

The Investor:

  • The investor is Fannie Mae, Freddie Mac, Pension funds, Insurance companies etc.... To protect their investment they may purchase Mortgage Insurance based on the value of the promissory note. Or the Borrower may have purchased Mortgage Insurance when they took out the loan.

Mortgage Insurance Company:

  • They insure the Investor's investment against loss. If the mortgage loan was for 200k then the promissory note is for 200k. The MI Company insures the investment for 20% to 35% or more of the original value of the Note. This figure depends on how much insurance the Investor or Borrower bought from the Mortgage Insurance Company.

Let's say the Mortgage Insurance is for 25%. The note is for 200k. Therefore, the Insurance will pay the Investor $50,000 (200,000 x .25) if the property is foreclosed on or the borrower does a Short Sale or Deed in Lieu. Plus, they may have conditions the Investor has to meet before they will pay at all. These conditions may be why the Borrower is asked to miss payments or participate in the loss by a cash contribution, promissory note or both.

So as you can see the Mortgage Insurance Company is a major player. They can make or break a Short Sale. I hope this helps.

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Behind the Scenes…

Realtor_logo-285x300.jpg?width=150Many people that are not close to the real estate industry ask us what the difference between agents, REALTORS and brokers are. It can be confusing because a lot of times individuals in the real estate professional can sometimes be lumped into a group together.

A lot of people use the blanket term “agent” to describe someone who is licensed in their state to buy, sell and negotiate the sale of real estate. An agent has taken the courses and has passed their exam as well as paid any necessary dues required.

A “broker” is similar to an agent in that they too are also required to take classes, pass an exam and pay required dues. However a person with a “broker” license usually has a little more education and experience that that of an agent. However, in the state of North Carolina, there technically are no real estate agents, but rather brokers. In NC you take the broker class and exam and are not given the option of just being an agent.

A “broker in charge” is a agent/broker that has been in the business for a specified period of time and now has acceptable experience in the real estate profession. A broker in charges job is oversee all of the agents and/or brokers that hold active licenses under him and the representing brokerage or real estate company. The broker in charge is responsible for the actions of all the agents and brokers under them and needs to make sure that everyone is doing their job and upholding the code of ethics and the law.

All the agents, brokers and brokers in charge all have to take classes and pass exams. That is how you get your real estate license. It is not an easy process and can actually be a lengthy one at that. Once an individual holds a license they need to have a broker in charge “activate” it and move their status from inactive to active. Once the individual holds an active license with a brokerage they can then become a REALTOR.

A REALTOR is an agent/broker that has applied for membership to the Realtor Association and has made an oath to uphold the REALTOR Code of Ethics and act in the best interest of their clients while still maintaining the respect and trustworthiness to others. Not all individuals that hold a real estate license are actual REALTORS. A lot of time people are so familiar with the term that they classify everyone in the real estate sales business a REALTOR. Though it is not required by law that a licensee be a member of the Realtor Association, many brokerages highly recommend it or even require it. Their resources and reputation give that extra bit of credibility to those agents and/or brokers that choose to be members.

Another area in which a lot of people are unfamiliar about is Designations. What are they? Designations are accomplishments an agent/broker has worked hard to obtain. Many of them are based on experience, while some are based on in-class courses and exams, and some are a combination of the two. An agent/broker that is equipped with a few designations is relaying a message of professional. A professional is someone that strives to better themselves in an effort to better the quality of service they bring to their clients. Designations come in all shapes and sizes and of course relevancy. No matter how you look at them, designations are another way agents are able to stay on top of the market, technology and your best interests.


Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
Direct Line: 704-619-1008
Client Care Line: 704-815-3208

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Ocwen Contact


An offer was submitted to Ocwen a month ago and we cannot get a live person on the phone just automation!  Does anyone have a good number that actually will not send you into the loop abyss?


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Los Angeles CA – I recently received an e-mail from another real estate agent. They were asking for our advice on a short sale.

They accused a large, national lender (one of the 4 largest in America) of lying to Fannie Mae. Fannie Mae is almost a subsidiary of the Federal Government


Here was the e-mail they sent us. ” The lender told the seller that they had to agree to a deficiency or the short sale would not be approved.

The seller said that was unacceptable. They told us they wouldn’t go thru with the short sale unless the deficiency was waived. We notified the short sale negotiator and he sent us a short sale decline letter.

The decline letter says buyer walked. That was a total lie! It appears that this lender told the owner of the loan, Fannie Mae, that the buyer walked when that was not the case.

But, he told us that Fannie Mae was making them do it. I think they are showing this to Fannie Mae to cover their butts! Steve.”

Our comments on this. This is a big deal. That lender’s legal obligation is to do what is best for Fannie Mae. Short sales usually reduce a lender’s losses by 20%, thereby netting Fannie Mae more money.

For this lender to do this is a blatant violation of their legal obligation. Fannie Mae’s policy is to not pursue short sale deficiencies. They just write off the loss and move on. We have sold many short sales where Fannie Mae waived their deficiency rights.

I think the short sale negotiator’s ego is getting in the way of a deal. They are probably delegated for Fannie. This means Fannie tells them to do whatever they want on behalf of Fannie.

The person not willing to waive the deficiency is this short sale negotiator. This is pathetic and should be investigated.

There is a solution to the problem. I would recommend calling Fannie Mae directly and let them know what is going on.

Thinking about a loan modification? Our Glendale loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at to request a Free Copy. Or, click here to request a copy.


Want more information about a California Free Loan Modification? Our FREE Loan Modification Services will help you get a loan modification approved with your lender. Click here to for more information regarding my FREE LOAN MODIFICATION SERVICES!


Thanks for reading this, Jennifer Escobar.


Jennifer is a Real Estate Agent at Qwest Real Estate.


My BLOG: CA Free Loan Modification Services | Los Angeles Short Sale


Los Angeles Short Sale Specialist | Los Angeles Short Sale | When to short sale in Los Angeles | Los Angeles Short Sale Taxes | Why Short Sale in Los Angeles | Los Angeles Short Sale Requirements | Los Angeles Short Sale Guidelines | How does short sale work in Los Angeles | Los Angeles Mortgage Short Sale

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Little Known Problems with Loan Mods


A local lender sent out the email below.  Alhough hardly anyone gets a loan mod, Sellers who are considering modifications -vs- short sale really need to know the info below:


In these difficult economic times home owners are often forced to make difficult decisions about how to handle mortgage payment they can no longer afford. One of the options is a loan modification. Everyone knows they are tough to get, but here is the problem almost nobody knows about:

ALMOST EVERY LOAN MODIFICATION INVOLVES DEFERRED DELIQUENT PAYMENTS that are rolled back into the loan in order the bring themortgage history current.

EVERY traditional loan program available today - Conventional,FHA, VA, USDA, etc., considers a loan with deferred payments as an ONGOING DELINQUENCY, regardless of the history on the credit report.


Some loan mods stipulate that the borrower catches up on the deferred payments in the first few years after the mod. In this case they may be able to get a new loan 1 year after the deferred payments are caught up - maybe 4 or 5 years in the future - probably more than the 2-3 year time frame for a foreclosure or short sale.


In other words if someone does a loan mod in year 3 of a 30 year loan they won't get another loan until at least 1 year after they sell or pay off the property. Making normal payments, that would be 28 YEARS IN THE FUTURE.


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Increase Home Value on the Cheap

160-300x186.jpg?width=280This topsy turvy economy has everyone looking for ways to be a little more conscious of what they are spending and on what. So when it comes to selling your home and wanting to increase the value or overall appeal of the home, then many sellers are looking to do this fast and cheaply.

Luckily there are a few key areas of a home that buyers usually get an initial opinion from and there are some inexpensive ways in which to make them stand out.
The first of these key areas is the outside of the home. Does the home have “curb appeal”, meaning does the home look inviting and homely from the outside? We have all heard the saying, “Don’t judge a book by its cover”, well we also know that everyone does it and with almost everything and especially your home. No matter how sweet and delightful the inside may be, the outside will either turn a potential buyer on or off within the first 3 seconds.

So how can you prep your home for buyer showings? First keeping the lawn well cared for and groomed. Maybe take some initiative and plant some grass or add sod in places that are showing signs of drying. Removing all toys and yard tools from sight is a must. Planting fresh flowers and shrubs can make a big difference. Maintaining the bark mulch and corners will add to the overall look of the lawn. Keeping landscaping free from weeds and overgrowth is a must. Another relatively cheap thing that can be done is to wash the house. Depending on the materials you can have your home get a quick facelift with a good pressure washing. Removing the leaves and junk from the gutters is another smart move.

Another location in the home that shouts initial opinions is the kitchen. Now granted these tips may be more than your budget allows but some tips can be easily done and relatively cheaply. The first being you may want to consider is getting rid of that old wallpaper. Wallpaper has a time and place and if it is dated your home will turn off some younger home buyers. Consider using a light colored paint and lighten up the room and add the illusion of more space. If you have some dated appliances in the home, consider replacing them. You can also cheaply update the faucets if necessary. If your budget allows for it consider giving the cabinets a makeover as well.

The bathroom is also another hot button area of the house most buyers are eager to see. The condition of the bathroom can be a major selling point or a major turn off. You can increase the appeal of your bathrooms with some simple and affordable upgrades. First, just like the kitchen consider upgrading the faucet sets. Maybe increase the lighting with some vanity light fixtures. Perhaps change out the old floor with some easy to install vinyl tiles. A new toilet seat can also go a long way. If the budget allows perhaps a new toilet and pedestal sink. Change out the shower curtains and add some appeal with a theme for the decorative towels, soap holder, toothbrush holder, ect…

Getting your home ready to sell is sometimes a daunting task. But if you set aside a little bit of a budget that can be used for some simple upgrades, you may find that not only do you get a better overall response but you may increase the value of your home in the process.


Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
Direct Line: 704-619-1008
Client Care Line: 704-815-3208

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The internet is great for getting information quickly.  I love the fact that I can go to one of the search engines and type up a questions and get a list of responses which I can quickly look over.  However, there is so much unfiltered information out there; sometimes you become more confused about the topic after reading a lot of conflicting information. 


This obviously applies, and perhaps more so, in the world of Short Sales and Foreclosures.  There seems to be so much incorrect and half correct and sometimes completely wrong floating around out there. 


The one that I hear frequently and had to deal with today was the one about HAFA.  There seems to be a consensus out there that HAFA slows down the short sale process. 


I’ve heard of this before and interestingly I heard it from a negotiator with Chase who flat out told me that HAFA will tack on 90-120 days to the overall process (I didn’t bother grilling her on how she arrived at these statistics).  I’ve often heard Realtors on the buy side of my transactions tell me that they are not interested if the sellers were going for a HAFA short sale because it would add months to the process.   I try to explain that is not a universal truth, and that things are different on a case by case basis; but some listen most don’t. To combat these issues, revisions were made to HAFA as of February 2011, one of the key revisions specifically states that arequest for HAFA (with an executed contract) MUST BE responded to within 30 days.  New information takes time to filter downward.


HAFA Request


I just received an approval from Chase today.  And it was a huge surprise for the buyer’s agent.  As you can see from the filing of the request to the issuance of the approval letter, it took 12 days (and not 120 days as claimed).  The Request was made on June 2, 2011 and the approval letter was generated on June 14, 2011.  Granted this particular one only involved one loan so there was no second to deal with, but it still took less than two weeks.   



Chase Approval Letter


This particular agent repeatedly asked me who was the third party handling the HAFA, but I always assumed he was asking me who was servicing the loan.  And as such, I never paid too much attention to his query about the HAFA third party.


When I emailed him a copy of the approval letter, he was obviously happy about the quick turn around time but again asked me about the third party handling HAFA.  This time I asked him to what he was referring?


This Realtor was under the impression that HAFA was a government program, so there was a central clearing house where all HAFA files went and that a third party was somehow responsible for getting the approval from HAFA.  In our case, it was his belief that the Chase negotiator would simply collect the documents and then forward everything to a “HAFA negotiator” who would then take months to get the approval from this entity called HAFA and then refer the approval or denial back to the Chase negotiator. 


Now I understood why he thought simply doing a HAFA short sale would delay the approval process by several months.  (Now I appreciated him taking my word and sticking out the waiting period).   I had to explain to this seasoned Realtor that HAFA is not a thing or a place which de-toured the short sale process; rather, it was just another process or a set of guidelines by which the participating lenders all agreed to abide to actually shorten the process; not cause further delay.  He seemed surprised to learn this.      


 So what was my take-away from this experience?  There is a lot of mis-information regarding HAFA and other things associated with short sales and distressed properties out there.  Even the negotiators inside the banks are under the false belief that HAFA automatically means there will be a delay in the process and  are not up to date on changes to the program.  This is quite ironic in that HAFA was designed to expedite the short sale process; but the rumor has it complicating and delaying the process instead.


HAFA could take more time once the reponse has been granted but need more information or denied and must pursue a traditional short sale, but from my experience, it has to do with number of issues such as: not using the correct forms to initiate the request, or not providing sufficient documentations requested, not responding to requests in a timely manner, or a myriad of other reasons.  After all, this is a new program which is only one year old, so there is the learning process by which everyone subjected to endure some discomfort.  But one thing is certain: simply by requesting a HAFA short sale DOES NOT AUTOMATICALLY cause months of delay.


Don’t buy into the urban legend and continue to feed it more misinformation or half-truths.  

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I have never run into anything like this before!  If anyone else has, please let me know.


An agent of mine listed a Short Sale with two lenders.  We received the short sale approval from the second lender and had dilligently worked with the first lender, ING Direct.  We supplied a complete package on day 1, everything was included.  By day 60 and after numerous emails, the only results we had were "offer X amount (which was almost 15% above market" and there is no option we will "wait for the next buyer".  So we paid for an appraisal (they never did even a BPO) and sent it in with copies to other escalation people at ING.  The initial response was "I will pass this on to valuation department but no guarantees".  I sent off another email asking for them to expedite as we were past 60 days and had no indication of a direction yet....again copying the escalation names...and the immediate response was "your firm and your agents have been placed on our exclusion list due to copying others on your email" and we have contacted your seller to let them know."


That seems ridiculous to me.  We have approval from the second, we have a paid for appraisal we have a complete short sale package and this lender is doing this.


I know I'm repeating myself but, I have NEVER run into anything quite like this and, my background is that of being a former banking exec. officer.


Any help or suggestions would be appreciated.  These people beat B of A for unreasonableness.

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Springleaf Financial Services Short Sale

Has anyone had an experience with Springleaf Financial Services that used to be American General? Have second mortgage trying to negotiate. They gave me a settlement letter acceptingthe $3000 that BOA was willing to give but they demanded that it close by a certain date, I have no control of BOA and the amount of time they take to give approval. Now that they say too bad! It should have closed by the date they wanted and that they are putting it with a litigation attorney which is stupid.



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 I am hopefully in the final stages of a short sale on my home. Flagstar says they have request a variance from FHA, I can not get a straight answer from them as to how long it will take to hear back from FHA. Futher more, no one at Flagstar seems to know what I mean when I asked what percent I'm at. They also do not use negociators, so I talked to someone different every time I call there. Any advice??
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Should You Sell On Your Own or Use an Agent?

sold-300x235.jpg?width=280If you are considering selling your home and are thinking about taking the plunge and selling it yourself, then you may want to spend a few minutes time and read through this post.

Most individuals that are jumping into the market as FSBO’s or For Sale By Owner individuals usually have little to no experience in the real estate field. Their main goal is to sell their home without having to fork over a percentage of that sales price to an agent.

I must ask the question why? A lot of people think that an agent doesn’t really do that much work. They throw a sign with their name on it in your yard and put the listing in the MLS or Multiple Listing Service. And you know what, for a lot of agents that is true. But it is certainly not true for the career driven agents that are considered professionals and work for their paycheck.

So what do I as an agent do for you when you list your home with me? Well before you even list with me I will come to you at your convenience and discuss the real estate market, my marketing plan for your home, current market statistics, recently sold similar properties, provide you with a CMA or Comparative Market Analysis and provide you with a listing price that is based on market conditions and trends and not my percentage. But most importantly I will listen to what you have to say. What you like about your home and what you think is important. This allows me to be able to better serve your needs and give you the best experience selling your home as possible.
Once we have made an agreement to work together I start the marketing package.

Yes, we do start off with a sign in the yard and yes we do put your home in the MLS. However I provide much more than that. Your listing will then be syndicated to hundreds of real estate websites, including,, Zillow and Trulia. A Visual Tour will be created for your property. A blog post about your property will be added to our countless blogging outlets. We post your home on tons of local classified ad websites, including Craigslist, Backpage, World Property Channel, BarterTown and many others. Your listing is then turned into a business card where it can easily be handed to friends, colleagues, acquaintances and family. A YouTube video of your home is also created and posted to our channel. We feature 2 homes a week my main website and your listing will be in that spot. We also do flyers, emails, newsletters and other internet marketing. We feature your home on our facebook and twitter pages as well as my linkedin account. Doing all of this ensures that your home is placed in front of as many buyers as possible. It is very effective.

But marketing is not the only thing I or professional agents do. Once you have an interested buyer you need to make sure you are ready. An agent can help point you in the right direction in terms of staging your home and getting it ready to be sold. A professional agent is also your best bet at getting the best price for your home. I pride myself on being a great negotiator and a great negotiator is what you need on your side. Going into a transaction blind as a lot of FSBO’s do, usually find themselves confused and frustrated with all the requests, paperwork, changes, tiny details and the unpredictable. As an agent that has been doing this for over 10 years I know what to expect, understand all aspects of the transaction and can easily explain it to you. I am also ready for any unpredictable situations that may arise.

An experienced and professional agent should be able to take care of all the details for you. They should make it as stress free as possible and allow you to concentrate on your upcoming move.


Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
Direct Line: 704-619-1008
Client Care Line: 704-815-3208

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Bank of America, J.P. Morgan Chase and Wells Fargo have failed to live up to performance guidelines under HAMP and will be barred from receiving federal financial incentives until they improve.
Closing the coffers to the nation’s largest mortgage servicers is the government’s remedy for big bank’s failure to help struggling homeowners modify their loans. HAMP (Home Affordable Modification Plan) has long been criticized as inept and ineffective but the real problem may be that the program is voluntary. HAMP only works if the banks are ready to play ball with distressed homeowners.
For those of us in the real estate industry, the ineffectiveness of HAMP comes as no surprise. Many of our clients have tried and failed to obtain a loan modification before coming to us for advice and assistance in the short sale process. Their stories have an abysmal similarity. Most have asked their banks for modification due to a reduction in income or prolonged illness. The homeowner sends all of the requested documentation and the modification package to their lender only to hear that the paperwork was never received. Many clients have submitted several times only to hear once again that the paperwork cannot be found . The system is laborious even for those well versed in real estate. On top of that, what homeowner has the time, knowledge or patience to sit on the phone for hours and attempt to get in contact with a negotiator?
Cutting the purse strings to these 3 big banks is a start. But so much more needs to be done to prevent the misery and financial ruin that so many American families are experiencing today.
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HELOC Short Sale in NC

I would like to post the following question but I am new to this site so I am not sure which blog is the correct one to use. Please help! Thanks!

I am currently very near closing on a 3-loan short sale on my home in North Carolina. I have a buyer at 500k. The 1st (HSBC) is at 495k. The 2nd (RBC) is at 130k HELOC and the 1st is willing to release 13k to the 2nd.  The 3rd is at 60k HELOC and the 1st is willing to release 1k to the 3rd. I have all 3 approval letters but the 2nd approval letter requires signatures by both husband & wife (divorced). The divorce decree states that the husband is responsible for the house. Closing is set for completion in 2 weeks. The 2nd & 3rd lenders have stated that they will pursue us for the deficiency after the short sale.  The 2nd has stated in the approval letter to contact the “Recovery Department” the first month after the short sale.

I would like to get all of this behind me as soon as possible. Am I on the right track? Do I negotiate a greatly reduced payoff on the 2nd & 3rd after the short sale? What is the best way to do this?  [Note - It is my understanding that if I offer a reduced payoff for the 2nd at closing that the 1st will require that those funds go to the 1st and any remaining funds would go to the 2nd which will not accomplish what I am trying to do] .


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Why Would You Move To Huntersville, NC?

698990525_c30c911650_b-300x212.jpg?width=250North Carolina is quickly becoming one the nations leading places to live and Huntersville, NC is up at the top!  Huntersville is located about 10 miles from Charlotte, so driving into the city is a simple, short drive.  Getting to the Speedway is also a snap for all the NASCAR fans out there and is conveniently located where taking a weekend getaway to the mountains or the beach is a cinch.

According to, Huntersville is the 46th fastest growing suburb in the United States and in 2005, Money Magazine recognized Huntersville as being the 76th BEST PLACE to live in America as well as being in the top 20 places to retire. So you can be reassured that there is something here for everyone and every age group, interest and profession.  People love to make their lives here.  People enjoy the scenery and all the amenities that come along with being a part of the community.

There are many businesses that make their home in Huntersville, NC.  According to, a few of these companies include SABIC Innovative Plastics, Rubbermaid, Irwin Industrial Tools, Max Daetwyler Corporation, American Tire Distributors, and many many more.

There are beautiful parks and historic sites that are sure to peek the interest of the young and old.  There are over 11 facilities and a couple large parks to visit.  The Huntersville Family Fitness and Aquatics is also located here.

Huntersville also shares the area with the very popular Lake Norman.  Offering over 500 miles of shoreline you are sure to spend countless weekends and holidays creating lasting memories.  So whether your hobbies include swimming, boating, water skiing, fishing, dining by the lake or just relaxing in the warm sun, you will find it here.

You might be asking what you need to do to move to Huntersville?  Well, first give Tim Brown a call and set up an appointment to start viewing properties is the area.

Housing prices range anywhere from $85,000 up to $2,500,000.  So you know you will have plenty of options when it comes to housing.  You can start your home search below!

Come join this beautiful community where the sun is warm, the people are friendly and the memories last a lifetime.  Come and call Huntersville, NC your new home.

Huntersville Real Estate and Homes for Sale:

Some additional information about Huntersville

Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
Direct Line: 704-619-1008
Client Care Line: 704-815-3208

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