2011: Worst Year for New Housing Sales…More Short Sales?
Short sell Rent and Buy Back, sell and lease back, sell and rent back
Read MoreBank of America Successfully Completes 1,873 HAFA Short Sales Since April 5, 2010
This government program Home Affordable Foreclosure Alternative initiated in April 2010 was set in motion and expectations were high. Every Real Estate Agent and Broker experienced in the Short Sale Process or lack there of, had a “spring in their step” expecting the lengthy short sale process to be expedited and streamlined; as it was so eloquently promised in it’s November 2009 introduction by the US Treasury. OK, so we all agree that BofA sucks at HAFA…so what about the other banks… The Scorecard according to HousingWire.com: JPMorgan...
Read MoreHot Off Press: HAMP Cuts Loan Mod Projections by 1/2…Time For Short Sale?
More news on Failed Loan mods… The 3.3 million borrowers estimated to be eligible for a Home Affordable Modification Program workout in December 2009 was reduced to 1.4 million by the end of 2010, according to the latest Treasury Departmentestimates. And not all have made it to a permanent modification. Since HAMP launched in March 2009, it has run into roadblocks. The Obama administration set an early goal of reaching between 3 million and 4 million homeowners, butthrough December 2010, servicers have started just more than 579,000 permanent modifications. And with the program set to...
Read MoreThe Darney's are Interviewed in the Contra Costa Times…C.A.R. Reports Sharply Increased Home Prices
http://www.contracostatimes.com/california/ci_16695640?nclick_check=1 Joe Nelson, Staff Writer Posted: While California home sales showed a statewide decline in October, from both the previous month and previous year, some cities in San Bernardino County showed a sharp increase in median home prices, according to data released Tuesday.In October, home resale activity statewide declined 3.5 percent to a seasonally adjusted rate of 450,360 homes, down from September’s revised pace of 466,930 homes. The pace was down 19.6 percent from the sales pace recorded in October of last...
Read MoreTreasury's HAFA Program Falls Short at End of 3rd Quarter
Breaking news! Today it was reported to congress, at end of 3rd quarter 2010, Home Affordable Foreclosure Alternative (HAFA) successfully completed 342 Short Sales or Deed’s in Lieu…report. The HAFA program was introduced April 5, 2010…with Freddie Mac and Fannie Mae following up in August 2010 with their versions of HAFA. OK…I’ll say it…thats just pathetic! Why? When you realize that in September 2010 U.S. banks foreclosed on 100,000+ homes…a record number of foreclosures, the 342 successful HAFA Short Sales and/or deed in lieus were...
Read MoreShort Sale up 27% in 2nd Quarter…Loan Mods Increase 24%
In this brief from the FHFA or Federal Housing Finance Agency released today… Foreclosure starts increased by 12% to nearly 275,100 Completed Foreclosures increased 15% to 112 Decrease in Loan Mod Failures i.e. going 60 days late after loan mod granted…less than 10% Fannie Mae & Freddie Mac Short Sale and Loan Mods have increased dramatically in their efforts to stop foreclosure activity. Here’s a link to today’s release http://www.fhfa.gov/webfiles/16691/2q2010ForeclosurePrevention91010PRF.pdf and a link to the quarterly report...
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