When the federal government first rolled out the Home Affordable Foreclosure Alternatives (HAFA) program, proponents believed that the $4.1 billion program would play a key role in expediting short sales and helping families avoid the painful process of foreclosure. However, more than a year later, HAFA has disbursed only $9.5 million of its funds and completed far fewer short sales Read full article »
Tag archives for Short Sales
HAFA Still Lagging, Ineffective
VA Instructs Mortgage Servicers to Pay Relocation Assistance on Short Sales and Deeds-in-Lieu
If you have a VA loan and find yourself in the position of needing a short sale transaction or having to “turn in your keys” to the lender holding your loan, that lender will now help you move out of the house that you are leaving behind. The Department of Veteran Affairs announced today that its mortgage servicers will be Read full article »
Real Estate Brokers In One State Now On The Hook For Botched Short Sales
This week a California court just made short sales even riskier for conventional real estate agents and brokers, ruling in Holmes v. Summers that “sellers’ brokers can be held liable for damages and costs incurred by a buyer in a failed transaction” when the sale price of the property is less than the debt on the property. While in the Read full article »
The Politics of Real Estate
Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.
Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.
Mortgage Industry News
Few things change more rapidly than the mortgage market, and with the increasing dominance of GSE's Fannie Mae and Freddie Mac over the mortgage business, it's more important than ever to keep up. Here are a few recent mortgage news updates:
-
Mortgage News
- HAMP Success Tally Slowly Growing
- Western States Working Through Foreclosure Backlog Quicker than Eastern
- Biggest Down Payments in the Country Found in New Jersey
- President Bypasses Congress, Appoints Director of the Consumer Protection Bureau
- Federal Reserve Recommends Expanding GSEs to Turn Housing Market Around
- Mortgage Rates Likely to Remain Low for a While Longer
- Top Former FDIC, Wells Fargo Execs Say Fannie and Freddie Must Go
- FHA Continues to Extend Anti-Flipping Waiver
- More Homeowners Using Delaying Tactics to Slow Down Foreclosures
- Now that It’s Passed: The True Cost of the Payroll Tax Cut
About Bryan Ellis
Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.
Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.
Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.
