The buzz has already started in the 9 county Bay Area. People, who were not aware of what are Short Sales, are being educated through blogs and forums from experienced foreclosure-stricken home owners. Word of mouth is also playing a major part in all the heavily hit foreclosure neighborhoods in San Francisco, San Mateo, Contra [...]
WASHINGTON, DC — Fannie Mae (FNM/NYSE) today announced it is suspending all foreclosure sales and evictions of occupied properties through March 6 in anticipation of the Administration’s national foreclosure prevention and loan modification program.The company had previously put in place a suspension of foreclosure sales through January and had previously suspended all evictions through the [...]
A housing rescue plan being considered by the Obama administration could strike at the heart of the credit crisis but its scale, complexity, and the potential for controversy poses challenges for policymakers. The plan is due to be announced by President Barack Obama on Wednesday and is expected to break new ground by helping troubled [...]
Mortgage giant Fannie Mae is testing a program to pre-approve short sales in Phoenix and Orlando, two of the areas hardest hit by foreclosures. The goal is to expedite the often difficult short-sale process by Fannie Mae agreeing on a sales price for a home on the brink of foreclosure and the loss it will [...]
It is a common practice that Realtors are facilitating the short sale transactions with the lenders. It is also well known that this is a quite time consuming effort and can easily de-focus the agents and brokers from their core business. In the mean time it is less obvious that the realtors have a fundamentally voulanrable role [...]
Studies and forecasts show that short sales expected to be 20-40% of the real estate transactions in the upcoming year. Who will be facilitating most of these sales? No question the REALTORS. The legality and the logistics of this transactions are often becoming a jungle not only for agents and brokers, but also to the employees of the lenders, not [...]
