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September 2010

August 2010

Facebook Rolls Out Places - Do you know your privacy settings?

Facebook launched it's new feature "Places" where You can add places, check in to places that already exist, and tag people who are with you.

Read the Facebook Places: A Field Guide from Mashable

A few things to note about Facebook Places:

    • Configure your privacy settings!

      By default, Places I check in to is set so Friends Only can see it.  To change the setting click on Account,then Privacy settings and Customize Settings. 

      Another default setting on the “Customize settings” page is “Include me in ‘People Here Now’ after I check in.” When you check in, your location is visible to your friends and also to anyone else nearby. If you’d rather be more private, you’ll have to opt out of this setting.

       

      Facebook Places privacy

      Your friends can, by default, check you in without your explicit approval or permission.  Again, go to your privacy settings to change this if you prefer.


Facebook Places privacy settings other share

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Ask Attorney Robert Noggle - Nevada Foreclosure Mediation Program Update

Attention Las Vegas, Nevada Real Estate Agents:

Are you advising your eligible clients to Elect to Mediate and use the Nevada Foreclosure Mediation Program? If not, why?

  • What if mediation is in the best interest of your client?
  • Did you know that electing to mediate can postpone a trustee sale?
  • Did you know that short sale approval is one of the possible outcomes?

Attorney obert Noggle Come and hear Attorney Robert Noggle discuss how the Nevada FMP can assist your client obtain short sale or loan modification approval.

Robert will also entertain general questions about tax issues, foreclosures, and asset protection.

Also scheduled to appear is noted bankruptcy Attorney Michael Bohn.

Our current housing crisis is a new phenomenon. It is testing the limits of most general practitioners. Unfortunately, many real estate licensees, attorneys, and tax professionals do not understand the issues.

Edutainer Steven Kitnick will moderate.

Come and ASK NOGGLE and get up-to-date information that you can rely upon.

 

Wednesday, September 15th 9am-12:30pm ~ Lunch included!

iMortgage 9139 W. Russell Rd., #100, Las Vegas, NV 89148
(behind the Bank of George ~ 215 & W. Russell Rd.
Jerry Tarkanian Way to W. Oquendo Rd. ~ Desert Canyon Business Park).

$20.00 Check or Cash at the door

To Register, go to:  www.NevadaCE.com
For further info, call (702) 255-8722

Limited to 50 attendees – Bring your clients!

 

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Your basic, FREE membership includes:

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Short Sale Certification Training in Las Vegas - CFAC Designation

Are You a Trusted Advisor?

Become a Certified Foreclosure Alternatives Consultant (CFAC)

CFAC-Certified Foreclosures Alternatives Consultant

Next class: FRIDAY, SEPTEMBER 24TH ~ 9am-4:00pm ~ Lunch included!

iMortgage 9139 W. Russell Rd., Suite 100, Las Vegas, NV 89148

(Behind the Bank of George in the Desert Canyon Business Park –
215 & W. Russell Rd. Take Jerry Tarkanian Way to W. Oquendo Rd.)

Register today at www.shop.stevenkitnickseminars.com

This course is approved by the Nevada Real Estate Commission for 7 hours of general continuing education credits CE.5094000-RE. The course is sponsored by Steven Kitnick Seminars.

Once you complete the Certified Foreclosure Alternatives Consultant Designation Course, you’ll be a trained consultant who understands the alternatives to foreclosure with an emphasis on the short sale process.

A CFAC℠ genuinely cares about their clients, always places the clients’ interest above their own, and never ventures outside of the scope of their expertise.

A CFAC℠ encourages clients to partner up with other trusted advisors such as attorneys, CPA’s, and financial consultants.

A CFAC℠ educates the client so they can make an informed decision as to   what’s in their “best interests.”  If the client determines that the short sale is their best option, no one is better trained to successfully process a short sale transaction than a CFAC℠.

CFAC Live Course - Register Now!

 

 

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Understanding General Guidelines for Loan Underwriting: Bankruptcy, Foreclosure, Pre-Foreclosure, and Short Sales

Guest Blogger: Steven Kitnick, CFAC, CNE, CSP, GRI, RRG
Steve is a Nevada Real Estate Broker-Salesman,  California Real Estate Broker, & Managing Director of Steven Kitnick Seminars, LLC – a real estate continuing education provider. 

Here's a common question from homeowners - especially those dealing with a distressed property...

“How soon will I be able to get a home loan if I file for bankruptcy, let my house go to foreclosure, execute a deed-in-lieu of foreclosure, or agree to a short sale?  

Loanapplicationapproved

The following may assist you in understanding general guidelines used by many underwriting departments:  

Conventional Loans

Bankruptcy
Chapter 7
(“A type of bankruptcy in which a person’s assets are liquidated – collected and sold- and the proceeds are distributed to the creditors”).  4 years from either the discharge or dismissal date. 

Chapter 13 (“A type of bankruptcy in which a person keeps his assets and pays creditors according to an approved plan”).  2 years from discharge date or 4 years from dismissal date.  If multiple bankruptcies within a 7-year period, it is 5 years from the most recent dismissal date.

Foreclosure is 5 years from completion date.  Deed-in-Lieu of Foreclosure is 4 years.  Pre-Foreclosure is 2 years from date house closed. If house was a short sale and borrower was not in pre-foreclosure (no 60, 90, 120, or 150 day “lates” in last 12 months), lender can sell the loan to Fannie Mae. The lender/servicer that completed the short sale must NOT have entered into any agreements that obligate the borrower to repay any amounts resulting from the short sale, including a deficiency judgment.

FHA/VA

Bankruptcy Chapter 7 – 2 years.  Chapter 13 – 12 months after release. 

Foreclosure or Deed-in-Lieu of is 4 years from completion date.  Pre-Foreclosure is 2 years. Same exception as conventional (above) if not delinquent.

*Exception - If borrower is in a Chapter 13 BK for at least 12 months, has no    “lates” to the trustee and the lender can get a letter from the trustee that it is    okay for them to buy a house, the lender can waive the required time from BK.

Source:  Dan Means, Branch Manager, imortgage – Las Vegas, NV

 

Join the WBNL Coaching Wanderers Club - The online, virtual coaching and training platform for Real Estate and Business Professionals.

Your basic, FREE membership includes:

WBNL Coaching Real Estate Business Plan Online Course and Downloads