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Changes For The Treasury Department’s HAFA Program On August 9, 2011, the Treasury Department issued Supplemental Directive 11-08 for its HAFA program. The new policy changes and clarifications of previous HAFA policies are as follows:   •Borrowers are currently provided with a 14-day period to r...
  Share this story from HuffingtonPost.com with everyone you know…this could be a rule changer for those BofA borrowers who qualify. …Bank of America will soon be off the hook for mortgage abuses in exchange for a whole bunch of money. The money will be used for loan modifications and….mortgage d...
Lets start by answering the question..What is HAFA?: Treasury Department introduced the HAFA program to provide a viable option for homeowners who are unable to keep their homes through the existing Home Affordable Modification Program (HAMP). The HAFA program took effect on April 5, 2010 and su...
  Fannie/Freddie downgraded this week, stock market tumbled, and the Fed’s promise to keep interest rates low until 2013, many have been left wondering what the impact will be on the housing market and, more specifically, how mortgage rates will change. As it turns out, stats shows that today’s ...
Mortgage rates dropped sharply this week, possibly improving the purchasing power of many home buyers. The 30-year fixed-rate mortgage, the most popular choice among buyers, averaged 4.39 percent this week, its lowest average for 2011, Freddie Mac reported in its weekly mortgage market survey. Th...
  Sales of existing houses plunged by a record 27 percent in July as the effects of a government tax credit waned, showing a lack of jobs threatens to undermine the U.S. economic recovery.   Purchases plummeted to a 3.83 million annual pace, the lowest in a decade of record keeping and worse than...
    One of every six real estate professionals reported in June having signed contracts canceled before closing — which is up from one in 25 the month prior, according to the National Association of REALTORS®.  The average cancellation rate for the past 16 months has been between 8 percent and 1...
Big news for Santa Cruz County real estate agents who assist financially distressed borrowers in obtaining short sales from mortgage servicers or lenders. The Federal Trade Commission (FTC) issued a statement today stating that it will forbear from enforcing most of the provisions of the Mortgage...
LAW AGAINST SHORT SALE DEFICIENCIES EXPANDED Here is the legal notice just signed by Gov. Brown. - This law is fully set forth as Senate Bill 458 (Corbett) at www.leginfo.ca.gov   In a major victory for REALTORS®, Governor Brown signed into law today a C.A.R.-sponsored bill, Senate Bill 458, proh...
Home Affordable Modification Program (HAMP) now has a calculator to figure out if you qualify  The Treasury Department is offering a free online calculator that helps borrowers estimate whether or not they qualify for the Home Affordable Modification Program (HAMP). The calculator is available at...

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