Here is more information on some of the statistics, links,and laws we covered in class today.
Here’s a link to a blog post I wrote about the two new forms from DFI and DOL, the Short Sale Seller Advisory and the Short Sale Guidelines for Licensees. and here’s the FTC MARS Ruling on short sale negotiators and upfront fees.
Here’s the link to the WA State Bar Association as well as the Northwest Justice Project for your homeowners who need legal counsel but do not have money for an attorney. They might qualify for free legal aid through the NW Justice Project.
There was a request for more info on the IRS Mortgage Forgiveness and Debt Relief Act.
Here’s an article by Ken Harney on how a short sale or foreclosure effects a person’s credit score.
Here’s a link to Seattle Bubble. Tim Ellis put together a great blog post about why inventory stinks right now. Tim says “the absorption rate on short sales is just pitiful” and he’s right. It sure does look like banks would rather foreclose and sell the REOs than take the short sale offers.
Here is your starting point for HAFA, the Making Home Affordable website.
Here’s the Fannie Mae bulletin on strategic defaulters being locked out of a new mortgage. Freddie and FHA have similar guidelines.
We talked about the brand new WA State Foreclosure Fairness Act….and here’s a great blog post from Jess and Julie Lyda on this topic and here’s the 61 page WA State Foreclosure Resource Guide.
There was a request to read the recent news story about local loan originator Robert Wolverton
I wrote a recent blog article on SB about Howard Bono and his new business “Financial Revival Group” and I promised to send you the link.
And just for fun, here’s the SNL skit on Debbie Downer.