A recent report issued by the Making Home Affordable government-funded initiative concluded that a remarkable 34,000 Arizona home owners have received mortgage assistance from the program so far. The federal aid program allows home owners to receive permanent loan modifications that have significantly contributed the recent decline in property foreclosures throughout the state. Now, home…
An overall decrease in foreclosure activity throughout the Phoenix housing market is one of the strongest indicators that a full recovery is now underway. It is also one of the reasons why the upswing is expected to last, since many homeowners are discovering short sales as a smart alternative to foreclosure thanks to new federally-mandated…
Arizona Attorney General Tom Horne recently announced that he will allocate the vast majority of the state’s $47 million received from the national mortgage settlement earlier this year to help Phoenix home owners stay above water on their mortgage payments and maintain their properties, instead of having no choice other than foreclosure on the property….
If you’ve followed my recent blog posts, you’ll know how I feel about the latest game that Fannie Mae is playing with homeowners trying to conduct a Phoenix short sale. Fannie could care less about homeowners, and has gone out of their way to make short-selling a home a tedious process. Melissa Blasius with Channel…
With a new set of rules taking effect on November 1, even home owners who would not have imagined a Phoenix short sale and principal reduction as a possibility for them may want to take another look. The new policies involve any homeowner whose loans were purchased or guaranteed by Freddie Mac or Fannie Mae…
If you spend your days wading through the nuts and bolts of the myriad of federal short sale programs, you’re already well aware that changes are thrust upon us on a fairly regular basis. And if you’re thinking about trying to get out from underneath a mortgage you can no longer afford, trying to decide…
Good old Wells Fargo is up to their tricks again. Only this time, they may be playing with fire. If you haven’t already heard, Wells Fargo instituted a policy that went into effect on 5/1/12. From now on, they are refusing to waive any deficiency rights for their Freddie Mac short sales. This, despite the…
If you’re facing the very real possibility of losing your home to foreclosure, you’re interested in solutions to your financial tension. A quick Google search tells you that a Phoenix short sale might be an effective foreclosure avoidance solution for your situation. Even better, there seem to be a number of prolific Phoenix short sale…
Yep, no typos in the title of this blog post. FHLMC (Freddie Mac) is actually charging my Phoenix short sale client a $1.00 “processing fee” for his HAFA short sale. Trust me, I had to read the email several times, and even asked the negotiator at Lender Processing Services (handling the BofA HAFA short sale)…
If you’re deep underwater on your Bank of America mortgage, B of A’s new principal reduction program might be just the lifeline you need to avoid foreclosure. Like many of the possible housing and/or mortgage fixes out there, it’s not for everyone. Homeowners considering a Phoenix short sale should look at this program as a…
