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February 2010
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April 2010

March 2010

Comprehensive Resource List for Short Sales, HAFA and Alternatives to Foreclosure

Here it is with the latest HAFA info and downloads as well as some added links reference legal and tax ramifications for sellers Read more →

Video Blog Launch - HAFA Updates from Jan OBrien - Real Estate Coach

I'm happy to announce that I have entered the world of Video Blogging as of today. Look for more how to videos from me on everything from real estate business systems, agent team building, blogging, social media marketing and online reputation management. Today's video covers two important websites to bookmark regarding the HAMP/HAFA Programs. Read more →

HAFA Complements HAMP = Short Sale Opportunities… The Treasury Posts a HAMP Report monthly at Let's Take a look at some of the stats from February 2010: Of the over 1 million HAMP modifications initiated since the programs inception - only 168,708 have been converted to permanent loan modifications. There are a myriad of reasons why... including borrowers not completing all requirements, turning in documentation, not making the trial payments, etc. This is one big reason why it is CRITICAL TO UNDERSTAND THE HAFA - Home Affordable Foreclosure Alternatives Program and to be a Certified Short Sale Professional! This... Read more →

Here are some recent articles on Short Sales, HAMP, HAFA, Strategic Defaults and the Housing Industry: Studies Show HAMP Promotes Strategic Default on Mortgages Negative Equity, Not Job Loss, Primary Driver of Defaults Future of Fannie and Freddie Debated on Capitol Hill White House Adds Help for Underwater, Unemployed to Housing Plan The Truth About HAMP - Inman News Certified Short-Sale Professional Designation Course CE.4025000-RE 8 Hrs. General MASTER THE SHORT-SALE PROCESS At the end of this course, you will be able to do the following: Know if a short sale is likely to be successful Understand what needs to... Read more →

Today the Administration announced enhancements to the Home Affordable Modification Program (HAMP) to provide additional resources for struggling homeowners. These changes will provide temporary mortgage assistance to some unemployed homeowners, encourage servicers to write-down mortgage debt as part of a HAMP modification, allow more borrowers to qualify for modification through HAMP, and help borrowers move to more affordable housing when modification is not possible. Read the full press release Unemployed borrowers meeting eligibility criteria will have an opportunity to have their mortgage payments temporarily reduced to an affordable level for a minimum of 3 months, and up to six months... Read more →

Stay Informed with These Key Mortgage, Housing & Real Estate Industry Blogs

One of the ways I stay updated on what is happening in the real estate industry and specifically with the economy and our current housing and mortgage default market is by subscribing to the resources listed below. I highly recommend signing up for the daily email alerts so you can have the news and resources come to you. I just take a few minutes a day to scan the emails with the current headlines and either read or bookmark the articles I want to save for later. Calculated Risk - DS News - Housing Wire - RISMedia... Read more →

We created the Short Sale Professional Network initially for CSP graduates only. We recently opened up the membership to anyone who is working in the short sale market and wants to participate. Read more →

In the State of Nevada, short sale negotiating falls under the category of "loan modification or foreclosure consultant" as defined in Assembly Bill 152 which modified NRS Chapter 645F. You can read AB152 here: Download AB152_LoanMod_ForeclosureConsultant In summary there are three options for negotiating short sales in Nevada: Attorneys Properly licensed companies/3rd party negotiators per the Mortgage Lending Division A licensed real estate agent as a part of a real estate transaction As excerpted from the RE Division position statement: There may be no separate or distinct payment o r compensation for performance of activities defined as loan modification, foreclosure... Read more →

Short sales and the HAFA program (Home Affordable Foreclosure Alternative) are getting attention in the media as we approach the program's start date of April 5, 2010. Las Vegas broker-manager, Kathryn Bovard was recently interviewed by the Wall Street Journal and the article was just published today. Kathryn blogs at Here's an excerpt.. read the entire article: New Program to Speed 'Short' Sales. Lenders “have finally gotten on board with the fact that short sales will be a large part of the market over the next 24 to 36 months,” says Ms. Bovard. While the popularity of short sales... Read more →

Blogging & Social Networking for Business Approved by the Nevada Real Estate Commission 3 Hours Continuing Education (PD) CE.3706000-RE Friday, May 7th 9:00 am to 12:00 pm Mountain View Mortgage Building (215 – between S. Buffalo and S. Durango – off W. Sunset) Not on Mapquest -Download a Map when you Register $30 in advance; $40 at the door Register online at Instructors: Jan O’Brien 858-9191 Kathryn Bovard 348-7191 Three hour (CE Approved) training seminar covering… The anatomy of a blog – understand all the components 6 Questions to Consider before Launching a Blog Learn the 15 Top Tips... Read more →