To the Students from the Feb 2, 2012 Class at JLS Univ Place “Loan Mod,Short Sale or Foreclosure?”

Here are some recent statistics from Seattle Bubble on Notice of Trustee Sales, Trustee Deeds, and Warranty Deeds for the Tri-County area. By the way, Tim Ellis offers these stats in report format here.

Here’s a link to the graph gallery which is where I find those great graphs on delinquency statistics at the beginning of the class.

Here’s the IRS website on the Mortgage Forgiveness Debt Relief Act. This page speaks to tax-related questions.

There was a request to the article surrounding the homeownership rates and how far we’ve fallen.

There was a request for FHA appraisal guidelines and VA appraisal guidelines.

Ray found the VA short sale program information for us.

LOAN MODS

Here’s how to check on the licensing status of a loan originator: NMLS Consumer Access.

Here’s the FTC MARS Ruling on short sale negotiators and upfront fees….and the recent exemption of real estate licensees….but remember, WA State has tougher guidelines (see number 4) than Federal Law on who can/cannot collect upfront fees for negotiating loan mods or short sales.

Here’s a link to the Making Home Affordable website

and this is a news story that posted late this afternoon: Most borrowers don’t qualify for a HAMP loan mod.

SHORT SALES

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 Guide.

Here’s a list of my interview questions selling brokers can ask listing brokers to determine if the transaction has a chance of ever closing.

Here’s a link to the Freddie Mac page on their website describing Short Sale Fraud

Here’s more info on the Home Affordable Foreclosure Alternative (HAFA)

HARP-Refi II

Here’s a link to Jason Gray’s website. Jason was the loan originator in the video we watched on the HARP II program.

…and here’s a great Wall St Journal FAQ article on HARP.

ending with the official HARP page from the Making Home Affordable website.

FORECLOSURES

Here’s a link to the free, HUD Approved Housing Counseling Agencies in WA State and the link with more info for ppl who might qualify for free legal aid.

The WA State Attorney General’s office has published an extensive, 61 page Foreclosure Prevention Resource Guide that can be found here in PDF format.

Here’s a direct link to WA State Foreclosure Fairness Act.

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