Bank of America is now processing HAFA (Home Affordable Foreclosure Alternatives) short sales on Equator’s web platform. Fannie Mae and Freddie Mac have announced that they will start the HAFA program as of August 1st. and BofA’s has a stated goal of increasing short sales this year. The use of the Equator system for HAFA transactions…
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We’ve been waiting for this news. Fannie Mae and Freddie Mac have announced they will join in the Treasury’s HAFA (Home Affordable Foreclosure Alternatives) program with some modifications. These programs allow short sales to be pre-approved for eligible borrowers. The US Treasury’s HAFA program became effective on April 1st and is now showing signs of…
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Last week “This American Life” on NPR radio had a fantastic piece on how Wall Street created the sub-prime meltdown. Their story, “Inside Job,” is a must listen! A companion piece appears on ProPublica’s blog. It’s called, “The Magnetar Trade: How One Hedge Fund Helped Keep the Bubble Going.” This is facinating stuff. I was…
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Bank of America did a web cast last week on their short sale process. The hour long webinar can be accessed at: Bank of America did a web cast last week on their short sale process. The hour long webinar can be accessed at: http://www-waa-akam.thomson-webcast.net/us/dispatching/?event_id=3068e6f00b836d36a361d1da7777062d&portal_id=1b8fe57a2d304cdbc43f1e95f94ac46a The short sale process is a moving target. Hogan School…
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FHA MIP Changes.
The new stimulus package consists of 1,419 pages of legislation. There are lots of provisions in the new laws which affect real estate. Whether the new first time home buyer credit or the residential energy efficiency credit you and your clients are going to have questions. Let’s face it, 1,419 pages is a lot of reading. Officially the…
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