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  • Financial Reform Legislation Includes Mortgage Aid for the Unemployed

    Financial Reform Legislation Includes Mortgage Aid for the Unemployed

    While the main focus on financial reform has been on how the new rules and regulations will impact Wall Street and “Main Street” when it comes to how investors, bankers and borrowers work together, Congress snuck in a little itty bitty 1 Billion into the “Wall Street Reform” bill.  This is a $1 billion “emergency [...]

    Jul 27, 2010 | 7 comments | View Post

  • Interview With Nick Cifoni from Rei-tv.com

    Interview With Nick Cifoni from Rei-tv.com

    There are a ton of reasons people in business don’t make it, in my experience, almost all of it is completely solvable. What I Mean is this, every obstacle can be overcome. I don’t care if your broke and a never finished school. Success can come to you. The reasons for success has nothing to [...]

    Jul 25, 2010 | 1 comment | View Post

  • House Details Countrywide VIP Mortages Given to Fannie Execs

    House Details Countrywide VIP Mortages Given to Fannie Execs

    An ongoing investigation by a House of Representatives committee revealed a VIP lending unit at Countrywide Financial Corp. targeted senior leadership at Fannie Mae. The House Committee on Oversight and Government Reform obtained new documents that show former Fannie CEO Jim Johnson and his successor Franklin Raines, former vice chairman Jamie Gorelick and former chief [...]

    Jul 23, 2010 | 0 comments | View Post

  • Agents Listing Short Sales Work Around Bank Negotiations

    Agents Listing Short Sales Work Around Bank Negotiations

    In Nevada, real estate agents are reporting that they are streamlining the short sale process by listing properties on MLS far below market price to elicit multiple offers. They believe that this streamlines the negotiation process with the bank or other lending entity because it gives them many different offers to work with and heightens [...]

    Jul 23, 2010 | 5 comments | View Post

  • Renters in Foreclosed Homes have 90 Days Grace Period

    Renters in Foreclosed Homes have 90 Days Grace Period

    Financial reform and consumer protections are the first things that spring to mind when most people think of the Dodd-Frank Wall Street Reform and Consumer Protections Act, but for lenders and other note-holders, start thinking about 90 days grace as well. The bill includes an extension of the Protecting Tenants at Foreclosure Act (PTFA) though [...]

    Jul 21, 2010 | 7 comments | View Post

  • 'Vacuum of Demand' to Keep Pulling Down Housing Numbers Next Week

    ‘Vacuum of Demand’ to Keep Pulling Down Housing Numbers Next Week

    On the heels of a 30% plunge in pending home sales in May — the first month that house hunters didn’thave the first-time homebuyer tax credit to entice them to sign contracts — analysts are anticipating a week of plummeting housing starts and existing home sales. In a note coming out Monday, Toronto-based macroeconomic research [...]

    Jul 20, 2010 | 0 comments | View Post

  • Housing Recovery is Spelled R-E-O

    Housing Recovery is Spelled R-E-O

    Short sales are a hot topic right now—especially with a much-ballyhooed government program focused on short sales, the Home Affordable Foreclosure Alternatives program, about to come online. But in the end, the real key to resolving the problems that yet remain in housing is likely to come back to an old standby: REO property sales. [...]

    Jul 17, 2010 | 1 comment | View Post

  • FHA considers MAJOR policy changes

    FHA considers MAJOR policy changes

    I love it when government reacts to crisis’s…. it seems everything the government does is always, too much over the knee reaction, and usually too late.  Now it’s FHA’s turn. It seems that the Federal Housing Administration (FHA) is considering three policy changes to boost its capital reserves. Under the changes, new borrowers seeking FHA-insured [...]

    Jul 16, 2010 | 0 comments | View Post

  • REO inventory swells again

    REO inventory swells again

    No Real Estate Recover yet folks – and I really don’t see it coming anytime soon. Inventories of bank-owned properties grew for the fifth month in a row, according to the latest statistics collected from loan servicers by Lender Processing Services. “Real estate owned,” or REO inventory — properties repossessed by lenders — stood at [...]

    Jul 16, 2010 | 5 comments | View Post