Barack Obama | Short Sale Pros - Negotiating Short Sales at No Cost to Homeowner, Realtor or Investor

Posts Tagged ‘barack obama’

Less than 13,000 HAFA Transactions First Year

Tuesday, May 24th, 2011

May 24, 2011 – The Home Affordable Foreclosure Alternatives (HAFA) program is not off to a very impressive start. Last month marked the one-year anniversary of the Treasury launching the HAFA program and less than 13,000 agreements have been started. Of these less than half—5,447 transactions—have been completed.

HAFA is of course a government-related program, so these things take forever to get off the ground. Just look at the HAMP program. We’ve only started seeing halfway decent monthly numbers on it in the last few months and it was created long before HAFA.

Your country needs you! Private market solutions are necessary to help the economy and housing market recover.

Tags: 100 short sales, agent, bailout, barack obama, foreclosure, HAFA, HAFA short sale, realtor short sale, short sale, short sales
Posted in Realtors | No Comments »

Double Dip is here

Wednesday, May 4th, 2011

May 4th, 2011 – April officially marked the first month of the double dip with national home prices 0.7 percent below the prior low recorded in March 2009.

Clear Capital’s report shows prices have fallen 11.5 percent over the previous nine-month period. A rate of decline this rapid has not been seen since 2008.

All the major metropolitan statistical areas tracked in Clear Capital’s report showed quarter-over-quarter price declines. The company says it’s a “sign of the continued volatility and fragility of home prices.”

At the regional level, home prices in the West, Northeast, and South regions have all crossed into double dip territory to record their lowest prices since the downturn began.

While spring typically brings with it a resurgence in home sales – and home prices follow – markets have entered uncharted territory since this spring home buying season will be the first since 2008 without any tax credit incentive.

“A note of caution to those looking for a strong end to 2011: The last time no incentives were in place and distressed inventories were this high, home prices fell sharply,” Clear Capital said in its report.

The company’s home price report last month noted the subtle but rather ominous trend that distressed sales activity in the West, as a percentage of total sales, had climbed after a prolonged 18-month period of general improvements, and in turn, home prices in the western part of the country hit the double-dip mark in March.

Nationally, Clear Capital says a similar trend has formed with REO saturation climbing to a current level of 34.5 percent after it declined to near 20 percent in mid-2010. Strikingly similar, the company says, 2008 saw REO saturation grow from near 20 percent early in the year to 32 percent by the end of 2008.

Looking at home price trends during these same two periods ties together similarities, Clear Capital explained, with a 15.6 percent price decline for the 2008 timeframe compared to the 11.5 percent decline for the mid-2010 through April 2011 period.

“This comparison leads to concern over home price declines through the rest of 2011,” Clear Capital said in its report, noting that the trends of 2008 were quickly reversed with the introduction of stimulus measures.

The housing market still faces many challenges that will only be solved through increased buying activity or a reduction in the distressed segment ― neither of which is assured in 2011.

Tags: 100 short sales, bailout, barack obama, california, double dip, foreclosure, loan mod, obama, short sale, short sales
Posted in Short Sales | No Comments »

The HAMP Failure

Monday, April 4th, 2011

The House of Representatives voted last week to end HAMP, which is the Home Affordable Modification Program. It is scheduled to run nearly two more years.

In terms of cost, HAMP is far under the $30 billion estimate that the Treasury set aside, having spent only $1.2 billion so far. Guess that’s what happens when distressed homeowners can’t get banks to talk seriously about these government-sponsored loan modifications.

The bill now moves to the Democrat-controlled Senate, where it stands little chance of getting the votes needed to take HAMP off life-support. The bills will never make it out of the Senate and, even if they do, the President will veto. Can you say a HUGE and colossal waste of time? America, you’re paying for this Republican vs. Democrat chess match that should have ended in a stalemate a long, long time ago. The Republicans proposing these program closures know it’s a waste of time, they just want to CYA (cover their own asses) while still looking good to their constituency. That’s what American politics has become—CYA, clever sound bites, not doing anything to upset your voters and sticking with your party no matter what the issue.

Meanwhile, well over a million Realtors are somehow supposed to squeeze out a living, when first-time buyers are scared to death to commit to a 30-year loan, unemployment is high, mortgage approvals are extremely difficult to get, foreclosure rates are through the roof, property values refuse to stabilize with any certainty and an unknown amount of shadow inventory is lurking around the corner. And that doesn’t even take into account the negative affect on all the builders, construction workers, home inspectors, property appraisers and companies who make products for the home building industry.

So “thank you” to both Republicans and Democrats for doing essentially next to nothing of value to help America out of this recession. While you’re arguing and grand-standing, more Americans are losing their homes, their jobs, their medical insurance, and their belief in the American dream. You have done FAR more harm than good.

Tags: $30 billion, 30billion, barack obama, foreclosure, HAMP, obama, short sale, short sales, washington
Posted in Short Sales | No Comments »

The HAFA Failure

Friday, April 1st, 2011

The Treasury Department released a new report on the government’s foreclosure prevention efforts Friday.

Treasury reports that as of the end of February, 4,488 homeowners completed a short sale or deed-in-lieu under the Home Affordable Foreclosure Alternatives (HAFA) program. The federal program provides up to $3,000 for relocation assistance after a homeowner exits the home.

Another 10,177 homeowners have agreements in place with their servicers for HAFA short sale transactions. Treasury notes in its report that the HAFA short sale timeline “lasts at least 120 days,” and requires the cooperation of junior lien holders in order to complete the transaction.

In addition, Treasury reported that 26,147 homeowners were put into permanent first-lien HAMP mods during the month of February, bringing the total number of active permanent modification under the program to just over 557,000.

The number of borrowers who have fallen out of the program stands out in the Treasury’s list of program stats. Since HAMP began in early 2009, over 1.5 million trial modifications have been initiated. More than 746,000 trials were canceled, and 76,600 mods have been cancelled after they were made permanent, for a fall-out rate of more than 50 percent.

Tags: barack obama, deed in lieu, foreclosure, HAFA, HAFA short sale, president obama, short sale, short sales, treasury
Posted in Homeowners, Short Sales | No Comments »

2nd Annual Realtor Appreciation Event (Pics)

Friday, October 29th, 2010

We hope you enjoy the pictures! Thank you to everyone that came out!

Tags: 100 short sales, agent, bailout, barack obama, california, countrywide, foreclosure, homeowner, realtor appreciation, SDAR, short sale, short sale pros, short sale testimonial, short sale video, short sales
Posted in Short Sales | No Comments »

Realtor Testimonial – BofA Short Sale

Wednesday, August 25th, 2010

Faby just completed her first short sale with Short Sale Pros. See what she thought of our service…

Tags: 100 short sales, agent, bank of america, barack obama, bofa, foreclosure, obama, short sale, short sale pros, short sale testimonial, short sale video
Posted in Short Sales | No Comments »

New HAMP Report Disappoints

Monday, August 23rd, 2010

The administration released new numbers Friday on its principal foreclosure prevention initiative, the Home Affordable Modification Program (HAMP). Housing analysts and market observers say the results are disappointing at best.

The latest performance report shows that nearly half of the homeowners approved for trial modifications have fallen out of the program. As of the end of July, 616,839 HAMP trials have been canceled, out of the 1,307,489 trials started since the program began.

The government and “distressed” homeowners are seeing Short Sales more and more as a viable option. Statistics like these released Friday compliment our feelings that the free market and capitalism will ultimately provide the solution to this unprecedented market correction.

Tags: 100 short sales, agent, barack obama, california, countrywide, deed in lieu, foreclosure, president obama, short sale, short sale pros, short sales, unemployment, washington
Posted in Homeowners, Realtors, Short Sales | No Comments »

Video to the President

Thursday, May 28th, 2009

To: President Obama
Re: Save Taxpayers $30 Billion

In the spirit of sponsoring DreamBuilder 2009 this week, Short Sale Pros has decided to “dream big” and set an aggressive goal of helping a half million homeowners with foreclosure alternatives.

According to Freddie Mac and other large banks, a typical foreclosure costs $60,000 dollars. With that said, I am here to share with you the large and important mission we at Short Sale Pros have committed to achieving – To help 500,000 Americans with a foreclosure alternative, which translates to $30 Billion dollars saved by American taxpayers.

Tags: $30 billion, 30billion, 30billion.com, bailout, barack obama, community housing works, housing market, obama, president, president obama, short sale, tax initiative, taxpayer
Posted in Homeowners, Realtors, Short Sales | No Comments »