Dodd-Frank Commentary pt. 2

Posted on 21. Jul, 2011 by hrs in Barry Hart's Blog, Real Estate

Dodd-Frank proposed regulations could destroy legitimate seller financing broadly speaking as we know it. If you feel that such regulations will do that, let the regulators know how you feel, why, and what should be done, if anything.

Dodd Frank Draconian Impact New Section

Posted on 16. Jul, 2011 by hrs in Barry Hart's Blog

The Dodd-Frank Bill will effectively eliminate seller financing. The Federal Reserve, received sweeping new authority under the Obama regulatory re-authorization, wants to effectively eliminate seller-held (a.k.a. purchase money) mortgages. It will do this by enacting a rule for the Dodd-Frank Act prohibiting property sellers from taking back a mortgage unless the buyer can qualify for conventional financing!

Fannie and Freddie’s Conservator Fails to Follow Up On Complaints

Posted on 29. Jun, 2011 by hrs in Agency, FHFA, Federal Trade Commission (FTC), GSE, HUD, News, OIG, Real Estate, Treasury

Who is policing the policing agency set up to police two failed broke Government Service Entities--Fannie Mae and Freddie Mac according to a recent audit reported by the New York Times.

Nation’s Foreclosures Continue to Climb

Posted on 21. Jun, 2011 by hrs in Foreclosures, News

Recently reported numbers show foreclosures and borrowers who are behind more than 30 days in their payments remain at record levels at which they are likely to remain for the foreseeable future.

Bank of America–Cooperative Short Sale Program

Posted on 16. Apr, 2011 by hrs in Barry Hart's Blog

Bank of America continues to market their Cooperative Short Sale program. A program first introduced in 2009, and periodically presented to certain distressed sellers, the common basics of dealing with a short sale in this environment remain present. Experienced Realtor Listing agents are a core tool along with competent input from experienced professionals in tax and deficiency issues are equally important to the Cooperative Short Sale as they are in any other short sale.

Principle reduction will not hurt big banks says IMF report

Posted on 16. Apr, 2011 by hrs in Barry Hart's Blog

IMF report claims banks will not suffer adversely from a financial perspective if principle reductions of up to 30% are implemented on distressed borrower loans.

FHA Has New Streamlined Refi-Loans

Posted on 26. Mar, 2011 by hrs in Barry Hart's Blog

FHA Streamlined Refi Loans present certain borrowers with existing FHA loans with a relatively real fix to an existing ARM, or a fixed rate fully amortizing loan with an interest rate that is not in line with current rates so long as the borrower can meet what a really simple, fair and well-thought out requirements that are not at all hard to meet.

Bank Owned Shadow Inventory Released

Posted on 23. Mar, 2011 by hrs in Shadow Inventory

Shadow inventory continues unabated. Buyers capable of buying mostly cannot due to lenders unwilling to lend. Seller financing will remain an alternative of choice and huge bargains will continue for cash buyers.

Loan Modifications: A Band-Aid Over a Wound That Won’t Heal?

Posted on 14. Mar, 2011 by hrs in Barry Hart's Blog

The focus of your modification should be to obtain a modified payment that you can realistically afford for at least a three to five year period or up to a 30+ year period under some sponsored programs including HAMP created during the Obama administration.

Secrets Your Lender Will Not Tell You

Posted on 12. Mar, 2011 by hrs in Barry Hart's Blog

On owner occupied houses, countless borrowers have tried to modify their loans. Many wind up in foreclosure. That is that is where, according to most sources, the rubber meets the road in terms of the really egregious conduct of the lender and some lender/attorneys. Most borrowers have failed in exercising all of their options, but only after several months of frustration and stress. Why have they failed? The answers is really shocking. This post refers to how most sources view the conduct of servicing agents who are making huge windfalls of cash to everyone's detriment but their own.

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