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Bank of America Borrower Must Pay $0.00 or Face Foreclosure

09. Jun, 2011 0 Comments

We just reported on a huge Bank of America screw up yesterday when the bank tried to foreclosure on a Florida couple who didn’t even have a mortgage with BofA. In fact, they owned their home outright. It seems that, like politicians who never le

Related posts:

  1. California Judge Rules for Bank of America
  2. Bank of America Fix Could Take 3 Years!
  3. Bank of America Suing Mortgage Insurer

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Could Fannie and Freddie Sell Their Modified Loans?

02. Jun, 2011 0 Comments

The possibility of Fannie Mae and Freddie Mac selling part or all of their modified mortgages may happen at some point in the future according to Edward DeMarco, acting director of the Federal Housing Finance Agency (Fannie and Freddie’s regulator)

Related posts:

  1. Fannie & Freddie Issue New Guidelines for Delinquent Mortgages
  2. Freddie Mac Has Record First Quarter REO Sales
  3. How Freddie Mac REO Selling Agents Can Make an Extra $ 1,200

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Homeowners in HAMP Give Negative Feedback

01. Jun, 2011 0 Comments

We at Short Sale Daily News have long been a nay-sayer of the Home Affordable Modification Program (HAMP). Now, it seems, even those going through HAMP are not all that happy. The Government Accountability Office (GAO) took a survey of housing counse

Related posts:

  1. Nearly Half of Distressed Homeowners in #1 Foreclosure State Didn’t Know About HAMP
  2. Why the Bill Introduced to End HAMP is a Complete Waste of Time
  3. Only 3 Percent of HAMP Funds Have Been Used

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Lessons for Realtors From a Wild West Style Land Grab

26. May, 2011 0 Comments

Yesterday I had a feel of what it was like for early settlers who joined the Wild West land  rushes. A company was hired by a foreclosing bank to sell property lots from the previous builder who went belly up. This company did a great job advertisin

Related posts:

  1. Looking at a Decade of Renters – How Can You Adapt?
  2. Listing Agents Working with Short Sales: Identify Your Property Correctly
  3. Banks Make More Money On Foreclosures than Short Sales

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Less than 13,000 HAFA Transactions Started Since Program Inception

25. May, 2011 0 Comments

The Home Affordable Foreclosure Alternatives (HAFA) program does not seem like it’s off to very impressive beginnings. Last month marked the one-year anniversary of the Treasury launching HAFA and less than 13,000 agreements have been started. Of t

Related posts:

  1. First HAFA and Second-Lien Modification Numbers Released
  2. HARP Program Extended for Another Year
  3. Treasury Turns a Profit Off Toxic Mortgage Program

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