Posted on December 14th, 2009, by DHW
The National Association of Realtors released guidelines for the new Home Affordable Foreclosure Alternatives (HAFA) program. The government’s program is designed to streamline the short sale process for qualifying homeowners.
DHW asks: Have you sold your home as a short sale? If so, how was your experience?
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Tags: guidelines, HAFA, Home Affordable Foreclosure Alternatives, realtors, short sale
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Posted on December 6th, 2009, by DHW
The Wall Street Journal published an insightful op-ed piece by Edward Pinto. Mr Pinto sees two major shortfalls with the Treasury’s attempt to modify delinquent mortgages through the Home Affordable Modification Program (HAMP).
“The first shortfall is that the program doesn’t provide a clear process to triage the over 7.5 million delinquent loans.”
“It doesn’t take into [...]
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Posted on December 1st, 2009, by DHW
Finally, relief for those seeking a loan modification, short sale or deed-in-lieu of foreclosure. Lets hope these will be the game changers we’ve been waiting for.
Update for those seeking a loan modification using Making Home Affordable (a.k.a. HAMP)
New guidelines for streamlining short sales and deed-in-lieu of foreclosures (HAFA)
This information is also available under “Modification Center”
DHW [...]
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Posted on November 16th, 2009, by DHW
Zero percent kitchen: n. a kitchen remodeled at the height of the real estate and credit bubble, between 2001 and 2006, featuring high-end details such as granite or Corian countertops; designer cabinets; stainless steel appliances and upgraded flooring (e.g. hardwood or travertine tile). Improvements were paid for with zero percent financing programs originated at home improvement [...]
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Posted on November 12th, 2009, by DHW
U.S. foreclosures sank for a third consecutive month in October, down 3% from the previous month. However, many feel this trend will not continue. Foreclosure notices were curtailed in many states due to temporary, legislative intervention. CNBC reported Nevada foreclosures “dropped 26 percent from the previous month because of new legislation requiring mediation before initiating [...]
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Posted on November 11th, 2009, by DHW
The Miami Herald reported the Federal Housing Administration (FHA) is temporarily relaxing underwriting guidelines for some condominium communities. The changes are intended to increase condo sales and put occupants in otherwise vacant units.
DHW asks: Do you agree with the FHA’s decision to relax condo underwriting guidelines?
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Posted on November 10th, 2009, by DHW
Critics of the Housing Tax Credit were quieted, if only briefly, when the National Association of Realtors (NAR) released data for third quarter home sales. According to the trade group, home sales increased by nearly 6% over this same time last year. Despite the spike in sales, prices have fallen more than 11% during the [...]
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Posted on November 5th, 2009, by DHW
Fannie Mae is expanding its ‘Deed for Lease’ program to help thousands of homeowners facing foreclosure. The program is designed for those who want to stay in their homes but do not qualify for President Obama’s loan modification program. Participants transfer their title to Fannie Mae and rent back for up to one year.
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Posted on October 26th, 2009, by DHW
There are two must-have guides for homeowners and real estate agents pursuing a VA compromise sale (commonly referred to as a ‘VA short sale’):
VA Compromise Sale Program
Servicer Loss Mitigation Program Guide
The first is written for real estate professionals and homeowners; the second for servicers (i.e. [...]
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Posted on October 25th, 2009, by DHW
What do you do when your lender won’t return your calls or emails? DesperateHouseWise.com has a suggestion.
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