Alex & Cadey's Blog

Services for Real Estate Pros - Charfen Institute
Alex and Cadey Charfen - Experts on handling distressed properties with information you need to know about how to survive and thrive in today's real estate market.
Since the beginning of the housing market crisis, the most common image in Americans' heads of a foreclosed property exhibited a house that was owned by a middle-class family struggling to make ends meet. However, there is a rapidly growing segment of homes that are struggling as well... luxury h...
The Board of Governors of the Federal Reserve System have extended the deadline for Independent Foreclosure Review to September 30th. If you were affected by a mishandled foreclosure between January 2009 and December 2010, there is hope. The Office of the Comptroller of the Currency (OCC) and the...
One of the most frequent questions we're asked is if short sales are essentially the same thing as a foreclosure, when it comes to the future of the consumer. The answer is...ABSOLUTELY NOT! When it comes to credit reporting, a short sale will have a much less catastrophic effect than a foreclosu...
Last month, the Joint Center for Housing Studies of Harvard University released their State of the Nation's Housing report for 2012, which revealed a growing trend in the housing market. From 1973 to 2008, it was cheaper on a monthly basis to rent instead own a home. However, since 2008 the affor...
In April, Bank of America introduced some major changes to the way short sales are initiated. One of the most talked about changes is the new Third Party Authorization form. On the form, Bank of America stated that only a licensed real estate professional would be allowed to do any work on their ...
On April 2, Bank of America announced the latest round of changes to their short sale process. The changes, aimed at streamlining and expediting the process, include new requirements for initiating a short sale and changes to Equator. Beginning April 13, 2012, Bank of America will require the fol...
Last month, Bank of America announced a pilot program that will provide some distressed property homeowners with a new foreclosure alternative. This new "Mortgage to Lease" program will allow homeowners facing foreclosure to remain in their homes by converting from home ownership to rental. In th...
I just finished reading "Take the Stairs" by my good friend Rory Vaden, which recently hit these bestseller lists: #1 on Amazon worldwide #1 on Barnes and Noble all categories #1 on USA Today business #1 on Wall Street Journal hardcover business #2 on New York Times hardcover Finally someone has ...
For awhile now, we’ve instructed agents on government incentives available to distressed homeowners who opt to do short sales. Such programs include the Home Affordable Foreclosure Alternatives (HAFA) program, which provides up to $3,000 to assist the borrower with relocation fees. In recent news...
Yesterday, the Justice Department and 49 out of 50 state Attorneys General announced a settlement agreement with 5 of the nation's largest banks in the Robo-signing and Mortgage Service Fraud scandal that first came to light in late 2010. The settlement, worth $25 billion dollars, was the largest...

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