Hi Everyone
Here are the Q&As from class today:
Here’s a direct link to the Home Affordable Foreclosure Alternative (HAFA) website and here’s their FAQ page. There’s nothing here that answers our question as to whether or not the property has to be owner occupied. It is likely a lender decision.
Here’s a link to the myfico.com website. They have a great education side to their website where your homeowners can ask all kinds of different questions about how financial distress events like a short sale, foreclosure or bankruptcy will affect their credit score.
Here’s the attorney referral page of my website.
Here’s the story about the Queene Anne Condo Project, Kerry Park going into foreclosure.
Here’s the news story about appraisal fraud jumping 50% in 2009.
There was a question about HAFA: Does the home have to be owner occupied?
Here’s the website that will help youdetermine if a loan is held in Fannie Mae’s portfolio.
Here’s information on the Freddie Mac announcement about Short Sale Flipping considered as mortgage fraud.
One last thing…there was a question from Judy after class about when should the listing agent send in the documentation such as the seller’s hardship letter, proof of financial distress, and so forth. That’s a great question. You’ll want to collect everything and send it all in at one time. If you send stuff in one document at a time, something is bound to get lost. Send it all in at once with your bona fide offer.
Thanks for participating in today’s class!