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Short Sale Daily News reports: Short Sale Daily News posted an article recently on the increase of Short Sales from last year to January of this year and some important benefits for banks and homeowners in doing a Short Sale.       For full story visit:
Bank of America and FHA Financed Flips Bank of America, in an effort to reduce the chances of abusive short sale flipping activity, has announced that they will allow FHA financing on properties owned for less than 90 days as long as the sales price is not more than 20% higher than the seller's a...
Short Sales Changes? What's Really Going to Change on April 5th With HAFA? For those expecting short sale transactions to get significantly easier when HAFA goes live on April 5th, well, prepare for disappointment.  The key change called for by Supplemental Directive 09-09 on April 5th is that al...
Loan Mods, Short Sale and....Lawsuits It was reported in DSNews this morning that a Washington State couple has filed suit against Bank of America for "intentionally" and "systematically" foiling borrower attempts to resolve their mortgage difficulties and avoid foreclosure.  The suit has been fi...
Below is yet another article regarding the HAFA program and the various opinions as to whether or not it will be successful. The end result of the program will not be known for years and the quick fix many are looking for is most likely not going to occur. Notice, I said "quick fix", but I do bel...
By BRIAN JOSEPH Original Link April 15 is just a few weeks away, and still the governor and the Legislature can't agree on what to do about short sales. As we reported earlier, California, unlike the federal government, no longer offers tax relief for mortgage debt forgiven...
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS® UNDISCLOSED SHORT SALE PAYMENTS MAY BE ILLEGAL Undisclosed payments in short sale transactions, especially those paid outside of escrow, may violate the law, including RESPA, laws against loan fraud, and licensing laws.  Short sale age...
As we gear up for the launch of the HAFA program and it’s April 5, 2010 launch there is growing concern as to the potential of shot sale fraud. “The US Treasury Department is taking the necessary steps to prevent short sale fraud under the Home Affordable Foreclosure Alternatives (HAFA) program,...
California Short Sale Tax Stand-Off The short-sale debate in California continues to evolve. The Ventura County Star reports  that The Senate today sent to Gov. Arnold Schwarzenegger a bill that would eliminate huge state income-tax bills faced by people who sold their homes in short sales last y...
Rep. Barney Frank, chairman of the House Financial Services Committee sent a letter last week to the heads of 4 of the nations largest banks. J.P. Morgan Chase, Citigroup, Bank of America, and Wells Fargo all received the letter from Rep. Franks. In his letter he informed the CEO's that their ban...

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