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December 2009

2009 in Music - Music Mashups by DJ Earworm

Last year I posted a 2008 Year in Review - and discovered DJ Earworm - creator of brilliant video and song mashups.  From his About page… Basically, what I do is take a bunch of songs apart and put them back together again in a different way.  I end up with tracks called mashups, which I post to this website."

Visit his website and checkout all the great mashups - you can also download the MP3s.

Here is the latest mashup from DJ Earworm:  United States of Pop 2009, with the Top 25 most popular songs according to Billboard:

  • The Black Eyed Peas - BOOM BOOM POW
  • Lady Gaga - POKER FACE
  • Lady Gaga Featuring Colby O’Donis - JUST DANCE
  • The Black Eyed Peas - I GOTTA FEELING
  • Taylor Swift - LOVE STORY
  • Flo Rida - RIGHT ROUND
  • Jason Mraz - I’M YOURS
  • Kanye West - HEARTLESS
  • The All-American Rejects - GIVES YOU HELL
  • Taylor Swift - YOU BELONG WITH ME
  • T.I. Featuring Justin Timberlake - DEAD AND GONE
  • The Fray - YOU FOUND ME
  • Kings Of Leon - USE SOMEBODY
  • Keri Hilson Featuring Kanye West & Ne-Yo - KNOCK YOU DOWN
  • Jamie Foxx Featuring T-Pain - BLAME IT
  • T.I. Featuring Rihanna - LIVE YOUR LIFE
  • Soulja Boy Tell ‘em Featuring Sammie - KISS ME THRU THE PHONE
  • Jay Sean Featuring Lil Wayne - DOWN
  • Miley Cyrus - THE CLIMB
  • Drake - BEST I EVER HAD
  • Beyonce - HALO
  • Katy Perry - HOT N COLD

And I absolutely LOVE this Mashup of Annie Lennox songs....


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2009 Year in Review - A Year of Change & Adjustment

For me, 2009 was all about change and adjusting to that change.  Personally, I made a major career change in July when I resigned as General Manager at Prudential Americana Group, REALTORS to pursue my passion for coaching and training on my own.  Many people thought I was out of my mind to leave the security of a great position in a successful company in the middle of the worst economic downturn and recession since the Great Depression.

It was the best decision for me and at a perfect time.  I am happy to be doing what I talked about for years...finally!  I am living my passion.  I look forward to an amazing 2010 - on all levels.

While I was googling 2009 year in review listings, several themes emerged for me:

  • The economy, recession, housing crisis, bailouts, recovery, stimulus plans...and the polarity.  Crisis brings out the best and, unfortunately, the worst in people.  
  • Power of Social Media in our lives:
    1. Twitter and the Iran Protests - Election
    2. Overall explosion of Twitter (News, TV personalities, Businesses...)
    3. Facebook has over 350 million active users
  • We, as a collective culture, feed on the drama and the tragedy ...and the media loves to serve it up 24/7...
    1. Reality TV shows
    2. Octomom
    3. Jon & Kate plus 8
    4. Sarah Palin
    5. Bubble Boy
    6. Tiger Woods
    7. Ft Hood Massacre
    8. Michael Jackson
    9. .... just to highlight a few events and trends

How about a couple of positive highlights... from my perspective:

  • Susan Boyle story was one for me.  Amazing, brilliant, uplifting, emotional, inspirational, a true wake-up call and lesson for us all to take that chance and to not let anything or anyone hold you back.  Over 100 million views on YouTube. Here's a link to the video on YouTube - embedding has been disabled.   Susan Boyle - Singer - Britains Got Talent 2009

    Her debut album is amazing... Get it! 
    I Dreamed A Dream

    From Billboard (12-23-09): "I Dreamed a Dream" has now sold a total of 2,465,000 copies and is the second-best selling album of 2009. Only Taylor Swift's "Fearless" -- with 2,933,000 sold -- is standing in its way. And with two weeks left in the 2009 tracking year, anything is possible.

    Check out this documentary - "Susan's story so far". 

  • President Barrack Obama.  Wonder what our world would be like if we all focused on progress and took action steps TOWARD what we wanted rather than continue to spew or buy-in to the negativity, hate and criticism?  Change is only going to happen when we all decide to do something about it...not the politicians... the people.  I voted for and continue to support and believe in Obama's leadership.  I also know it is going to take time, patience and right action to get there.

  • Miracle on the Hudson.   Captain Chesley Sullenberger, known as "Sully," was the epitome of "Calm Under Extreme Pressure".   For the first time in 50 years of commercial jet flight, the pilots of US Airways Flight 1549 successfully executed one of the most technically challenging maneuvers, landing a jetliner on water without fatalities.

    Listen to his voice on this air traffic control tape and watch the animated recreation of the incident:

A look back at events of 2009 ... the highs, the lows, the in-betweens.

Time - The Top 10 Everything of 2009

Yahoo - 2009 Year in Review

And, finally, if you haven't seen this Annual Video yet from JibJab (the same people who bring you the Dancing Elves videos)....Enjoy:


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Home Affordable Foreclosure Alternatives Program (HAFA) Guidelines

The following is a re-posting of the recent article from on the newly released guidelines for the Home Affordable Foreclosure Alternatives Program (HAFA) with added commentary from me :)

Making Home Affordable

On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is part of the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP are also required to comply with HAFA.  A list of servicers participating in HAMP is available at MakingHomeAffordable.govNOTE: Not All Loan Servicers are participating!

HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which will issue their own versions of HAFA in coming weeks.

HAFA is a complex program, with 43 pages of guidelines and forms, designed to simplify and streamline use of short sales and deeds-in-lieu of foreclosure.

Download the official document: Download Hampupdate122309


  • Complements HAMP by providing a viable alternative for borrowers (the current homeowners) who are HAMP eligible but nevertheless unable to keep their home.
  • Uses borrower financial and hardship information already collected in connection with consideration of a loan modification. This is why it is so important for real estate professionals to understand ALL alternatives to foreclosures!  See my recent posts on Understanding Alternatives...
  • Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds).  Hopefully this will speed up the lengthy process everyone has been experiencing for final short sale approval.  Are you a CSP yet?  Check upcoming course dates.
  • Prohibits the servicers from requiring a reduction in the real estate commission agreed upon in the listing agreement (up to 6 percent). Yeah!
  • Requires borrowers to be fully released from future liability for the first mortgage debt (no cash contribution, promissory note, or deficiency judgment is allowed).  A welcomed relief for Nevada homeowners...Deficiency Judgment issues will be the biggest impediment to successful short sale closings as homeowners and real estate agents are better educated.
  • Uses standard processes, documents, and timeframes/deadlines. Have not seen the forms / standards as of yet...
  • Provides financial incentives: $1,500 for borrower relocation assistance; $1,000 for servicers to cover administrative and processing costs; and up to $1,000 for investors for allowing a total of up to $3,000 in short sale proceeds to be distributed to subordinate lien holders (on a one-for-three matching basis).

The program does not take effect until April 5, 2010, but servicers may implement it before then if they meet certain requirements. The program sunsets on December 31, 2012.

Press Release, HAMP Update—New Program Offers Borrowers Foreclosure Alternatives

Supplemental Directive 09-09, Introduction of Home Affordable Foreclosure Alternatives—Short Sale and Deed-in-Lieu of Foreclosure


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Understanding Alternatives to Foreclosure... Updates on Loan Modifications under HAMP and the new HAFA guidelines

Real Estate Professionals... are you staying informed and updated on the developments and guidelines regarding all alternatives to foreclosures in order to assist homeowners?

Alternatives to Foreclosures My recommended approach to serving your clients who are dealing with their own housing crisis and/or economic downturn is to be the conduit of information.   Provide options and possible solutions as well as recommendations to other experts and professionals to help each individual make their best decision.

One of your initial qualifying questions is to ask the homeowner... "Do you want to keep/stay in your home?"

If the answer is yes, then consider recommending that the client...

If your client is unable to get loan modification, then a short sale may be an option for them.  I encourage you to get educated on the short sale process if you haven't already done so.  Steve Kitnick and I teach the CSP (Certified Short-Sale Professional) designation course in Las Vegas at least monthly.  You can check the schedule and register for an upcoming course right here on this blog or at Steve's site:

Here are some more resources, recent articles and news regarding Short Sales & Loan Modifications:

A link to an article on the new Treasury Guidelines for Short Sales (HAFA):
Treasury Releases Guidance for Making Home Affordable Short Sales

Great all the the official supplement from the Treasury...Not so good news..

Not effective until April 5, 2010. Unless participating servicers want to opt in early! website is a MUST read/review. It's loaded with all the information regarding loan mods under the HAMP program.... Who is eligible, Is the Loan with Fannie or Freddie, How to request the Loan Mod, etc.

Did you know?......(from the site):
A wide array of servicers have agreed to participate in the Home Affordable Modification program and have already engaged borrowers and expanded capacity to begin the modification process for eligible homeowners. In addition, all servicers for loans owned by Fannie Mae and Freddie Mac are required to participate.  The following is a list of servicers who have formalized their commitment to the program through a signed contract:

Search for Your Mortgage Servicer: show all servicers

Other recent articles of interest:
Quarter of HAMP Mods in Default Again
Industry's Mortgage Workouts Exceed Completed Foreclosures, HOPE NO...
Bank of America: 2/3 of Borrowers May Lose Government Mods  ....of the 65 thousand trial modifications set to expire Dec. 31st with B of A, a full two thirds of the borrowers, while current on their payments, have not submitted the full documentation required to turn a trial mod permanent under the HAMP guidelines.

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Short Sales vs. Foreclosures in Nevada - Answers to Common Questions

Become a Certified Short-Sale Professional (CSP) AND receive 8 hrs of Continuing Education credits. 

Last course for 2009:

Friday, December 18th  - 9:00am-5:30pm ~ Doors Open 8:30
Realty Executives 1903 S. Jones Blvd., #100, LV, NV 89146 (N of Sahara Ave.)  MAP

REGISTER NOW for the December 18th Course - Tuition $299

Here is a preview of one of the many topics covered in this full day certification course.  This post compares short sales and foreclosures in the areas of tax consequences, credit impact, and deficiency judgments.




What is a Short Sale?

  • A Short Sale is when the home sold for less than the debt against the property and the lender(s) agree to accept a discounted payoff.  The lender agrees to accept less than what is actually owed on the mortgage.
  • A Foreclosure is when the lender seizes the home that the loan is secured by through the foreclosure process, which is notice of acceleration of note, notice of default, notice of sale, and then actual forced sale of the home known as a ‘trustee sale.’

What are the tax consequences?

  • Short Sale & Foreclosure….all debt forgiven results in 1099C debt.  Whether it is a primary or rental property makes a difference as to how much tax you may pay.  Simply stated, if you get released from debt the IRS sees that as income to you, just like you got a pay check.  See this publication from the IRS on “Canceled Debts Foreclosures Repossessions and Abandonments.”
  • You may qualify for an exemption under the Mortgage Forgiveness Debt Relief Act - visit this IRS article for more information:,,id=179414,00.html

What are the Credit Issues?

  • Foreclosures and Short Sales will appear on your credit history and affect you for up to 10 years.  This may affect a.) employment or b.) security clearance, etc.  Rumor is that a short sale is better than foreclosure for these items?  There is no evidence to back this up.  Arguments on both sides are out there.  We do know that there is a specific spot on the credit reports for foreclosure, whereas short sales are reported differently.  We have also seen examples of the credit score being impacted based on the total number of missed payments. 

What is the liability for the Debt AFTER the foreclosure or short sale?

6 Months

  • Foreclosure – The foreclosing lender has the right to sue the home owner after the foreclosure for the difference between the amount gained at the ‘trustee sale’ discussed above and the balance of debt owed.  The lender has only 180 days (six months) from trustee sale to file, after that the owner is no longer liable.

6 Years

  • Foreclosure 2nd Deeds – All deeds that are junior to the foreclosing lender have different rights than the foreclosing bank.  These lenders are called ‘sold off junior lien holders’ and they have six (6) years to recoup their debt.  That means you get foreclosed on November 12, 2009, these junior lien holders have until November 12, 2015 to sue you. 

Short Sale - All lenders that agree to a discounted payoff and ‘release the lien’ from the property to allow the short sale are no longer ‘secured lenders’ and are now ‘sold off junior lien holders’ as described above and have six (6) years to sue you.  UNLESS, the short sale is negotiated so the lender releases the homeowner from any future liability as to the forgiven debt.  Many lenders are taking a hard stance on this issue and NOT fully releasing and satisfying the forgiven debt. 


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Free Real Estate Agent Business Plan Download

Attention Real Estate Professionals!  Do you have a WRITTEN Business Plan and Goals for 2010?


Here's a link to my Real Estate Agent Business Plan post with all the the forms and documents to download and complete your plan. 

How to Create Your Real Estate Agent Business Plan - 3 Steps to Success

Step 1 - Set Your Goals (Outcomes)

Step 2 - Create Your Business Plan.

Step 3 - Measure and Track Your Results.  

If you are interested in one-on-one coaching...  contact me for a FREE consultation to discuss my coaching packages and options.  All packages include guidance and support on completing your Business Plan and Outcomes.

Are you ready for coaching? Take your business to the next level today. Schedule a complimentary 30-minute coaching session today to find out more.

Let us be your virtual coach as well.  Learn at your own pace and on your own schedule.  Our on-demand online courses integrate multi-media with an intuitive learning management system. Learn more about becoming a member of our community at WBNL Coaching.