NAR Economic Summit – Commercial Loans & Short Sales
Much of the afternoon was devoted to the commercial market and banks. The commercial market is a great source of concern right now. Commercial defaults could freeze the housing rebound while its impact...
View ArticleShort Sales and Foreclosures: What Real Estate Professionals Need to Know
Short Sales and Foreclosures – The New “Traditional” Transaction For many real estate professionals, short sales and foreclosures are the new “traditional” real estate transaction. Knowing how to help...
View ArticleShort-sellers Take It In The Shorts on Taxes
California short sellers to pay tax on mortgage debt Governor Schwarzenegger last week vetoed a bill that would have prevented California homeowners who sold their homes via short sales or received...
View ArticleShort Sale Fraud on the Rise
Brown Issues Warning about Rise of Short Sale Fraud LOS ANGELES – Attorney General Edmund G. Brown Jr. today joined the California Department of Real Estate and the State Bar of California to warn...
View ArticleB of A & Chase release HAFA Guidelines. Thanks NAR?
A couple weeks ago at our GAD Institute, NAR President Vicki Cox-Golder discussed how she and Ron Phipps have been meeting with banking executives around the country in an effort to get some uniformity...
View ArticleNAR Creates New Email Address to Collect Data on the Experience of REALTORS®...
To learn more about the difficulties that REALTORS® continue to face with shorts sales and the Home Affordable Foreclosure Avoidance Program (HAFA), NAR has created an online mailbox for members to...
View ArticleFHA Announces Short Refinance Program for Non-FHA Borrowers
On August 6, 2010, the U.S. Department of Housing and Urban Development (HUD) announced details for its new refinancing program to assist homeowners who owe more on their non-FHA mortgages than their...
View ArticleWhy do they call it a short sale when it takes so damn long?
That’s a good question – and one Realors® get asked every day. Well, here’s the simple answer as well as a look at some of the average lead times you can expect if you’re waiting for an approval.
View ArticleWells Fargo Nixes Extensions on Residential Short Sales
By Kate Berry/American BankerOctober 1, 2010 Wells Fargo has stopped granting extensions for distressed homeowners to complete short sales, a move that will expedite foreclosures. In a short sale, a...
View ArticleNew anti-deficiency law for short sellers hits the state 1/1/11
A ray of good news for homeowners in California. Lame-Duck Arnie actually signed a bill that provides some relief for short-sellers. Existing law prohibits a deficiency judgment by the holder of a...
View ArticleWells Fargo Allows Foreclosure Postponements for Short Sales in Certain...
Conventional Residential Lending Report In November 2010, Wells Fargo advised NAR that it has modified its existing guidelines to allow the postponement of a scheduled foreclosure in connection with a...
View ArticleGov. signs Realtor Bill for short sale relief.
New law gives added protection to short-sale hopefuls On Friday, Gov. Jerry Brown signed Senate Bill 458 (Corbett) into law. The new law, which contained an urgency clause and became effective upon...
View ArticleCAR OPPOSES AG’s Homeowner Bill of Rights.
California Homeowners Bill of Rights: A Lesson in Political Expediency & Unintended Consequences. California Attorney General Kamala Harris announced in a much heralded press release today that her...
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