Housing Wire author Cary Steinberg recently wrote an interesting piece on about HAFA and HAMP. The premise of the article is that HAFA (the Home Affordable Foreclosure Alternative) will likely be successful because it is an exit strategy for homeowners, allowing them to sell their house for less than they owe – as opposed to [...]
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Posted in Market News
Tagged analysis, foreclosure, HAFA, HAMP, harp, news, reo, short sale, short sales
Tagged analysis, foreclosure, HAFA, HAMP, harp, news, reo, short sale, short sales
// Interesting read at CNBC last Friday about banks moving to short sales by Dianna Olick. Earlier this week a top executive at Bank of America told an REO conference in Dallas that the lender would be focusing more on short sales than ever before. At first hearing this, I assumed it was because of [...]
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Posted in Uncategorized
Tagged bank of america, foreclosure, HAFA, HAMP, preforeclosure, reo, short sale, short sales
Tagged bank of america, foreclosure, HAFA, HAMP, preforeclosure, reo, short sale, short sales
HAFA has been out for only a few short weeks, and already the feedback is piling in. Most of it? Not so positive. I posted our article, “The HAFA Program is a Bunch of Crap” on LinkedIn group, FSSA (Foreclosure and Short Sale Agents), to see what short sale agents who are working with the [...]
HAFA is upon us, effective April 5th, 2010. Here are some of the posts we have featured on the Art of Short Sales over the past few months discussing HAFA and it’s impact. The HAFA Program is a Bunch of Crap This article talks about the negative feedback many are giving on the HAFA program [...]
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Posted in Links, Market News
Tagged government, HAFA, HAMP, Links, short sale, short sales
Tagged government, HAFA, HAMP, Links, short sale, short sales
Reporting by Diana Olick from CNBC: The video takes a high level look at HAFA and the government program. All in all a decent view but any readers of this blog won’t be surprised by any of the content. In a nutshell, it simply discusses short sales and how it could help clear inventory from [...]
A great analysis article today courtesy of Housing Wire discusses how the solution to the housing crisis will ultimately be REO (real-estate owned). The REO trend is based on their analysis that the size of the foreclosure market is so overwhelming that even short sales won’t be able to keep up with the demand: But [...]
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Posted in Market News
Tagged default, HAFA, HAMP, housing crisis, mortgage, reo, short sale, short sales
Tagged default, HAFA, HAMP, housing crisis, mortgage, reo, short sale, short sales
Came across this blog post today which purports the size of the HAFA market is an astonishing 2.8 million properties! The breakdown as provided in that blog post: 7.5 MM borrowers that are 60+ days delinquent or in some stage of foreclosure (LPS Mortgage Monitor Report, Feb ’10) 2.0 MM are the foreclosure “inventory” (MBA [...]
A new article yesterday from the NY Times discusses the upcoming HAFA programs in some detail: March 7, 2010 Program Will Pay Homeowners to Sell at a Loss By DAVID STREITFELD In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will [...]
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Posted in Market News
Tagged government, HAFA, incentives, news, short sale, short sales
Tagged government, HAFA, incentives, news, short sale, short sales
Here are some quick links from the National Association of Realtors to their documents on HAFA, including their own FAQ. Brochure – About HAFA: About HAFA Color Brochure Government Guidelines Government Forms and Guidelines NAR HAFA Program FAQ NAR HAFA Program FAQ
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Posted in Education, Links
Tagged Brochure, government, guidelines, HAFA, NAR, short sale, short sales
Tagged Brochure, government, guidelines, HAFA, NAR, short sale, short sales
The other day I was on Twitter and just generally asking people what they though of the impending HAFA (Home Affordable Foreclosure Alternatives) program, which is coming down the pike from the Obama administration on April 5th, less than two weeks from today. A lady named Sarah Stelmok, who also happens to run a fantastic [...]
Tagged analysis, commentary, government, HAFA, HAMP, mha, modification, short sale, short sales