Hi Everyone,
Here are the links and follow up from today’s class.
Here’s a link to the WA State Bar Association and more info on free legal aid.
Here’s the Making Home Affordable website. And here’s the direct link to the page where the homeowner can see whether or not he/she qualifies for HAMP/HAFA.
There was a question as to the timeframe on purchasing another home after a short sale. There is no “1 day later” rule from Fannie Mae. Instead, I believe it’s HUD who will allow someone to purchase another home after a short sale via an FHA loan but realize there are provisions to using the FHA program. Read this HUD Mortgagee letter for more details. And remember to make no such assurances to short-selling homeowners as guidelines can change at the drop of a hat.
Calculated Risk is the best econ and finance blog out there and here’s a link to some of the graphs we saw in class today.
Here’s more information and statistics on the Home Affordable Mod Program HAMP.
After the break, Paul mentioned a news story that broke late, late last night about Bank of America and an anon whistleblower. Here’s the story.
There was a request to post the pathway to the DFI naughty list.