UPDATED to reflect vote count of 252 to 170. The count was incorrectly stated previously as 218 to 109. 03/29/2011 By: Carrie Bay The U.S. House of Representatives passed legislation Tuesday evening to end the administration’s flagship foreclosure prevention initiative, the Home Affordable Modification Program (HAMP). The HAMP Termination Act (H.R. 839) passed the House [...]

With so much attention focused on the House of Representatives’ efforts to stamp out four separate federal foreclosure programs, a bill making its way through the Senate – which like its House counterpart would effectually terminate the Home Affordable Modification Program (HAMP) – has received less attention but is progressing nonetheless. Pundits insisted such legislation [...]

Real Estate Outlook: Good News Across The Nation by Carla Hill The market is changing out there, and the latest reports are showing that when it comes to buyers, less is more in some cases.  A recent study from the National Association of Home Builders (NAHB) indicates that the recent housing slump has meant buyers [...]

Market Update – January 2011

Congressman Introduces Bill to Fund Foreclosure Mediation Programs By: Joy Leopold Congressman Steve Cohen (D-Tennessee) last week introduced a bill aiming to help prevent foreclosures across the country. After the House passed measures to terminate federal foreclosure prevention programs, Cohen stepped in with a new measure to provide federal funding for foreclosure mediation programs. Cohen’s [...]

HAMP Loan Mods: Lenders to show their “secrets” Finally borrowers who have been denied for loan modification will have a chance to know the reason “why”. For most borrowers who are denied for loan mod the reason why remains a mystery, the term “NPV” denial means little to them, and that’s because the formula used [...]

By Bryon Ellington, Chief Products Officer and Roger Higle, Course Writer, Keller Williams Realty International “Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas A Edison How many of us know someone who has foreclosed on their home, or is at least close to being in [...]

C.A.R. open letter on short sales  March 10, 2011 An important message from the CALIFORNIA ASSOCIATION OF REALTORS®: I write on behalf of the CALIFORNIA ASSOCIATION OF REALTORS®, whose 170,000 members continue to witness the devastating consequences the home foreclosure crisis is having on California’s families, neighborhoods, and communities on a daily basis. The number [...]

5 Things to Know About Tax Scams Don’t be tricked into revealing your personal information. By Cameron Huddleston, Kiplinger.com Each year the IRS receives thousands of reports from taxpayers of suspicious e-mails, phone calls and faxes. These notices claim to be from the IRS – and often use the agency’s logo – but are scams [...]

Changes to Short Sale Initiation Process As Bank of America continues to enhance the short sale process, real estate agents will notice changes when initiating a transaction in Equator, beginning March 11, 2011. What Is Changing:   New fields will be required when initiating short sales in Equator. Agents should be prepared to provide the [...]