RECENT BLOG POSTS
So I posted an article from NAR on Facebook and someone commented what if values drop another 10% and here is my answer. Ok- Let’s run the numbers at a 10% drop the first year of ownership but a conservative 2% year after year 2-5 and say we have a $200,000 purchase with 10% down at 4.5% on a Len...
01/17/2011
Wells Fargo makes some drastic changes prior to what some feel will be another law passed by the government to increase the speed of a short sale. I had a discussion today with the operations manager at the Law office of Robert C. Russell and she has not yet heard of these new changes that have...
09/22/2010
The Law Offices of Robert C. Russell will be persuing this new program as it rolls out. We have been having great success with modifications and short sales this week.Breaking News…. Bank of America is testing and will soon have a national roll-out of a new program that will revolutionize the sh...
08/10/2010
I just have them call my CPA for free advice...IS THAT ORIGINATION POINT ON YOUR HUD-1 DEDUCTIBLE? READ THE IRS WEB SITE AND THE ANSWER IS PROBABLY YES, YES, YES. YOU'D BE SURPRISED HOW EASY THE IRS WEB PAGE IS TO READ. Agents and loan officers sometimes advise buyers and sellers about the d...
07/27/2010
One of the big questions we always get is "what is the time line for a short sale?" and the very first thing I ask is who is the servicer and how delinquent is the seller. This usually gives me about a 75% chance of timing the transaction. One important thing that imroves the success of a short ...
06/27/2010
Recently, both Fannie Mae and Freddie Mac (the Government Sponsored Entities or GSE's) announced their HAFA Guidelines, with a mandatory implementation date of August 1, 2010. Fannie Mae guideliens can be found here and Freddie Mac guidelines can be found here. These critical and much awaited an...
06/27/2010
For those nail biters that are worried they will not be closing in time due to some of the large corporate lenders taking CRAZY amount of time in underwriting, funding and closing may have some light at the end of the tunnel this week. I read a post on facebook where a fellow Realtor was dealing ...
06/16/2010
This is a MUST attend for those locals!Shocking, huh? Rain is in the forecast for the Pacific Northwest. July 7th, 2010 RainCamp will be making a stop in the City of Roses, Portland Oregon. Nestled near the confluence of the Willamette and Columbia rivers, our neighbors to the South are no strang...
06/15/2010
I am very happy to say I just completed my CDPE designation and one of two mortgage professionals in the state of Washington with this certification. I look forward to sharing the information with our team at www.nwssn.com and www.nwlmc.com to improve our short sale negotiation business and assi...
06/08/2010
This week I will be gaining my designation as a Certified Distressed Property Expert or CDPE. This education will be a great resource to share with my local Realtors as well as my borrowers on improving the success of a short sale. Here is a little of what a CDPE is all about: What is a CDPE? A C...
06/06/2010