There, I said it! Something I’ve been wanting to say for the past 60-90 days, and finally have gotten up the nerve to say it publicly through my blog. And trust me, I’m not the only one that feels this way right now. You see, over the past 60-90 days, ALL of our 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…
HARP 2.0 Refinance requirements, when they’re officially announced, will detail the specifics of the revamped HARP home refinancing program. This program, also know as the Obama Refinance Program, is due to roll out in March/2012. Rather than being seen as a negative, the changes to this critical housing program could provide certain desperate homeowners with…
As a Phoenix short sale agent, I keep my ear to the ground, listening carefully for the sound of common sense solutions that will actually help the housing recovery take place. Unfortunately, common sense is in short supply, drowned out by the noise of “do something – anything” solutions that wind up doing more harm…
I’ve Got It! A Simple Plan To Force Fannie & Freddie To Work With Homeowners! By now, most of you have heard of the 17 banks that are going to be sued by FHA, Fannie/Freddie, etc. Some screamed with glee (finally the banks are getting theirs!), while others critcized the plan, saying it would only…
Would Freddie Mac Rather Short Sale or Foreclose? You Be The Judge-An Actual Phoenix Short Sale Case Ok, I’ll make this short but sweet… I’m handling a Phoenix short sale for a client. We’ve had the property listed since July 12, 2010. The seller tried to “do the right thing” by not simply walking away…
$150 Billion & Counting-What Should We Do With Fannie Mae & Freddie Mac? Today, the news agencies are abuzz with the headline that taxpayers have spent approximately $162 Million on legal fees to defend the very criminals at Fannie & Freddie that got us into the mess we’re in. Yawn! Right? What’s worse is that we…
Fannie Mae Now Issuing Fines To Servicing Lenders Who Don’t Foreclose In A “Timely Manner”! On August 31, 2010, Fannie Mae released Announcement SVC-2010-12, “Foreclosure Time Frames And Compensatory Fees For Breach Of Servicing Obligations”. This announcement acts as a supplement to the Servicing Guide, which gives servicing agencies the Fannie Mae “rules for foreclosure”….
Miss Out On A Fannie Mae Short Sale? Just Wait Two Weeks! Over the past two months, I’ve noticed a trend with failed Fannie Mae short sales in the Arizona pre foreclosure market. We’ve had at least 5 cases where our buyers lost short sales because Fannie refused to extend the foreclosure dates. In all…
