Shortsalenurse's HAFA Blog

January 27, 2011

Distressed Property Task Force, CAR is serious about making our community whole again.

Yesterday (Jan 26, 2010) was the first “in person” meeting of this years impaneled Distress Property Task Force, it met in conjunction with the California Association of Realtors Board Meeting, at the Hyatt in San Diego.  I have to say I was honored to be in the company of such an experienced group of Realtors, including the Chairwoman a prior CAR President.  We were briefly met by CAR leadership and  offered all the support they could give.  They called the work of our the Task Force one of our most important groups to address our business challenges this year and possibly for a few years to come.

We all know our communities are hurting with the number of “Distressed Clients” we are serving.   Before we sat down to the formal meeting many of us were exchanging “Twin Tracking Stories”  but then we went to the business of the Task Force.  We are addressing system based issues, like twin tracking and how to best bring the attention to the issue of Distressed Properties at all levels.

As was promised in the recent announcement to all CAR members, Bank of America was in the attendance.  I give very high marks to the Senior Vice President that flew out from North Carolina to share with us some of the interior system changes that Bank of America  has planned and some of the improvements that they have already made in their process.  But a side from the system issues that are invisible to my clients (the public) there was a very serious and genuine tone to this man.  He wants to help our community also, he views us as his community too!  He sees Bank of America as a total unified company and he wants one division of the company to help the other.   He has not taken to the theory that Loan Servicing is a separate company that just shares the same name, and he shared that this attitude comes from the TOP.

There will be more to come after a few of our recommendations are taken to the Board of Directors for review.  I have to say it was personally uplifting to see the caliber of people who have come together to address these issues.   I am confident that we will be meeting with other major Banks in the near future.  Our housing economy WILL get better and working together will make it better faster.  It’s with our Banking partners assistance and cooperation that it will recover more quickly, mortgages are still going to be part of obtaining the American Dream.

Now anyone that thinks I have gone soft, you know me better than that.  I want results.  I want “Twin Tracking” addressed.  The rules should allow for a Loan Mod, and then a short sale, not a Loan Mod and foreclosure running at the same time. That is an important system issue to address, and of course there are a few more.  Supporting our communities is going to require more than just words, we need supportive actions and we need them yesterday.

All Marketing done with the Assistance of Kalabash Marketing

“Goodnight Mrs. Kalabash where ever you are.”

(If anyone see Mrs. Kalabash share this secret message with her)

 

George Kenner, Lic. 01229951

Call George At 619-723-5714   –   g.kenner@yahoo.com

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January 23, 2011

The Twin Track System – this is when the Loan Modification Train and the Foreclosure Express Train CRASH !!!

With 7  million homes in default, unemployment not getting better, other than by just a decimal of a percent every few months , at least to this tax payer it seems to be time to make a few adjustments to the train tracks we are on.     I am tired of seeing the “Crash” it’s depressing.  Let’s talk about twin track, that is contributing to the public pain.   Here is a link to what the National Counsel of State Housing Agencies says about twin tracking, as it was discussed in the U.S. Senate.

I know how I would modify Twin Tracking ,  I would end it.  The Servicers are doing a very poor job, in many cases I see the Loan Modification Division of the Bank and Short Sale Division, acting as separate management components.  The CEO’s need to end this separation of the divisions.   There is no notification of the” time line” of the Modification and Foreclosure process  to  the client, and it hits them as a surprise when they think they can still short sell.

Frankly,  I think that Congress is trusting Treasury to do the job right,  and they are now getting frustrated with the results Foreclosures are on the rise, I hope we are only hours away from some change in the policy, I don’t want to see my community hurt any more than necessary.

All Marketing done with the Assistance of Mrs. Kalabash

“Goodnight Mrs. Kalabash where ever your are.”

(a secret message to Mrs. Kalabash)

George Kenner,  Broker Associate , Lic. 01229951

619-723-5714  –  g.kenner@yahoo.com

January 22, 2011

HAFA Update & Get to know GEORGE even better

This video gives a great overview of where HAFA,  really is,  in the process of implementation.  The California Association of Realtors has a special task force working on HAFA and other issues related to distressed property (foreclosures) (see open letter here) .   In my opinion it also gives people considering working with George and the “Team” a great sense of who he is and what he can potentially accomplish for you.   You will see that George has the background that few people statewide have.

I am happy to associate with George, and Keller Williams Realty.   George is  constantly using quotes,  the one he shares in relation to all the people he works with is, ” Good things, just seem to go together.”

This  article was guest author by Greg Brownell, Broker Associate with over 20 years of experience in Real Estate, holding Brokers licences in multiple states.

All Marketing done with the Assistance of Kalabash Marketing

“Good Night Mrs. Kalabash where ever you are.”

Secret Message to Mrs. Kalabash

A special thank you to Liliana Requir for doing the interview

Go Ahead put the team to the test, Call George at 619-723-5714

Ca. Lic. 01229951

 

January 19, 2011

President Say Review Regulations to Make Sure we are not Killing Business, Does that Mean HAMP & HAFA

Filed under: Uncategorized — shortsalenurse @ 5:35 am

President Say Review Regulations to Make Sure we are not Killing Business, Does that Mean HAMP & HAFA.

President Says Review Regulations to Make Sure we are not Killing Business, Does that Mean HAMP & HAFAs

President Obama announced  (hear it in his own words here) that we need to review HAMP and HAFA, well not specifically HAMP and HAFA but regulations that are hurting business.  For me that means HAMP and HAFA,   7 Million Homes in default, that is something that needs to be addressed.

Every day I see another non nonsensical situation where there is no one in a position to make a command decision.  We need a return to common sense, and give someone the power to make a decision, rather than try to follow some rule to the letter of the law.   If it costs $1000 dollars for a bad decision and $10,000 in effort, time and expense to make the decision,  something is wrong.

This is the path of over regulation and this is what  in MY OPINION happened to HAMP and HAFA.  If I am wrong, and I am always ready to admit I am wrong why are there so few loan modifications and mandated Short Sales?  Do I have a point?  Is it time for meaningful review for the sake of my community, and the 7 Million Homes and all the VOTERS that they represent?  I think  so!!!

George Kenner, Broker Associate, Keller Williams Realty – Ca.  Lic. 01229951  All Marketing done with the assistance of Kalabash Marketing

Good Night Mrs. Kalabash where ever you are.

(a secret for Mrs. Kalabash’s eyes only)

The opinions expressed here are solely the viewpoints of George Kenner please contact George at 619-723-5714 – g.kenner@yahoo.com

January 18, 2011

Depression? New Numbers are in, 53 Total Months of Falling House Prices

Filed under: Uncategorized — shortsalenurse @ 4:58 am

Depression? New Numbers are in, 53 Total Months of Falling House Prices.

Depression? New Numbers are in, 53 Total Months of Falling House Prices

This is a good interview.  Mr. Sharga is a very respected  NUMBERS professional.  His company sells data http://www.RealtyTrac.com is a top source for finding Foreclosure information by Realtors.  He makes a few conclusions that think could be challenged.  We are hearing the number of foreclosures 90 days late or more is 7 million. In the announcement President Obama  made to the public, ( posted below)  used the figure of 6 million, that was a year ago and the number is rising.

The issue with this is  not a few million homes in foreclosure,   the problem is the NUMBER is not visual.  To put the scope of the problem in context is hard,  but in the next few days, I plan on doing just that.  I will make the 7 million number visible, you will be able to close your eyes and see it.    I am also going to  show you all how to share it, with our top elected official.    If your a Real Estate Professional, I am even going to share an idea to make the issue come to the forefront of political issues,  so there is some meaningful action.

Mr. Sarga,  in a very fair manner, relates what he is being told all over the country,  that being, people are being foreclosed upon while they are in the process of a Loan Modification.   This of course skips the HAFA short short sale option we have been promised. Should we be happy with this?  I think not. Youtube has taken to making us watch a short ad, but this interview is worth a short ad.  If the link says “embedding disabled” just click “Watch on U Tube” .

Here is the link to the story that says prices have fallen for 53 months more than in the Great Depression. (click here for the link to MSM  CBS NEWS ARTICLE) Now this is just me but I think once you see this 7 million number and impact made visual you may what to say Depression also.   I think it is high time,  we  come to the meeting with the truth.  Things are still messed up and what we have done is not making it better.

George Kenner, Broker Associate, Keller Williams Realty – Ca. Lic. 01229951

All marketing done with the assistance of Kalabash Marketing

Good night Mrs. Kalabash were ever you are.

(Question for Mrs. Kalabash’s eyes only)

 

 

 

 

 

If your a Realtor looking for Hafa Training www.assetplanusa. com created the Certified Training for Ca. Ass. of Realtors

Contact George at 619-723-5714 – g.kenner@yahoo.com

January 15, 2011

Is Fannie Mae Helping Short Sales or Hurting them… Knowledge is Power.. How about HAFA?

Fannie Mae has just launched a Short Sale Site – Loan Modification  Site,  to help people understand options.  It is www.know your options.com/ Let me warn everyone,  this is only for Fannie Mae Loans. If your loan is not owned by Fannie Mae this information does not apply.  So lets address a problem with the site.   More times than not,  when you call your Mortgage Servicer  they will not tell you or your Realtor who owns your loan.

There are some tricks that seasoned Banking Professionals know, relative to finding out who owns your mortgage including MERS,   but many professionals don’t share this knowledge, they consider it  tricks of  the trade.    So here is the good news and the bad news.   At the end of the video and interactive screen presentation , there is a  prompt, to have you search to see if Fannie Mae owns your loan.  Why is this not at the  introduction when the site first loads?   Well, you will have to ask Fannie that.

As I have said before,  saving your home in a loan mod,  or moving on with your life in a short sale,  is not an easy process.  Short Sales are a segment of the real estate profession that is difficult to master.   But with 7 million people in default on their mortgages  this is not an issue that is going away any time soon, more and more Realtors are learning the ropes.

Another issue with this site is  when I reviewed it,  I saw no mention  made of  HAFA as a short sale system.  Why?  I am not sure as Fannie Mae has mandated this as a system, and here is the link to the rules.  Is this going to be confusing to the public who are now looking for HAFA information?

Now I am just a Real Estate Broker with 20 years experience including Banking but I think Fannie Mae and Freddie Mac should just use the same Short Sale system  rules  the Treasury Department set up for other investors.  Clearly stated,  I agree with  the Ca. Ass. of Realtors and what they  stated  in their ” Open Letter to Treasury and Fannie and Freddie” .

I follow things pretty carefully on the Short Sale Front and I have not seen response letters from any of the parties yet.   I am sure they are getting ready to deal with answering why Fannie and Freddie are being treated differently than other investors.    After all they owe the America Tax Payers 160 billion dollars.  To me this  is  like saying the Treasury Department does not know what they are doing, and they know better what to do than the Treasury Department.    If you have an opinion on how to fix the Real Estate market or want to share your views with  President  Obama just click here, and start composing.  I can think of about 7 millions household that would like about 10 minutes of the Presidents time to tell him we need to show some attention to housing.

George Kenner, Broker Associate Keller Williams Realty, Ca. Lic. 01229951

All Marketing done with the Assistance of Kalabash Marketing

Good night Mrs. Kalabash where ever you are!

Call or E mail George @ 619-723-5714 ,  g.kenner@yahoo.com

January 11, 2011

Why Plug the hole in Hafa and the Number of Looming Foreclosures at 7 million

Filed under: Uncategorized — shortsalenurse @ 3:59 am

I was just asked for this video again and I promised to post the link.   My clients are asking  on a more and more frequent basis why things are not working out as the President said they would.

I am not going to blabber on about HAMP and HAFA and the short comings. Don’t take it from me,  listen to the plan… and if your received those results  I am happy for you.  If you have not it’s time to speak out.  Write letters to the President and ask for the HAMP and HAFA.    I bet he is really upset only 400 people received HAFA results after one year, that is just a few short of his million expectation.  Read the CAR open letter for numbers clink (HERE) When I see a written response to the letter from any of the addressed parties I will post it as fast as I can.

I believe  if  even half of what the President projected, had come to pass, irrespective  of political party affiliation, our race, creed or color, or any other preference we have, our country would be in better shape.

The bottom line is what are we doing with this plan to make it work and who is running it?   Who is responsible for the success or failure and when is accountability going to be present?   Americans want to know…, well at least this American does.   How do I help my President deliver on his words?  I don’t want to hurt my fellow citizens I want to forestall the 7 million looming foreclosures. All of the property put on the market that is now in a normal foreclosure process,   spells disaster for our economy.  FIX HAFA NOW!

Published by George Kenner,  Broker Associate – Keller Williams Realty

Lic. 01229951   All Marketing done with the assistance of Kalabash Marketing

Good nite Mrs. Kalabash where ever you are…

January 5, 2011

Let’s Go Public – OPEN LETTER – Why is Bank of America not Following HAMP / HAFA? Computer Glitch?

I am asked all the time how I make my contacts to achieve success for my clients short sales.  The truth is that making contact with the right people is just a matter of effort.  You look for the telephone number or e mail address and you will find it.  Just like a successful loan modification it takes some time, a little luck and the right professional helping you.   Below you are going to see a letter that was written to one of the Treasury Department connections that I have made over the years.  They are always ready to help if possible. If your polite and really care you will be surprised what you can accomplish.  Here is the last letter that I wrote to them.  For Privacy reasons some of the people who received this,  names,  have been removed,  I do not consider them a public players like an elected Congressman.  (letter in Blue Font)

Dear Friendly Party at the U.S. Treasury Department.

I forward the following information to you at the request of the Program Director of the San Diego Urban League, Mr. Henry Miles who is in charge of Loan Modifications.   Mr. Miles is experiencing , on a more and more frequent basis,  cases where  loan modifications and foreclosures are running on simultaneous  twin tracks.  With the end result being that  foreclosure is set within a few days of the HAMP denial without a HAFA Short Sale offer being made to the client.

You will see in the attached PDF document  on  December 21, 2010, .Mr. G$^&%$&%  was notified his HAMP loan modification was denied.  When he called in to Bank of America to determine why the loan was denied.  He was directed to call a HUD Counselor.  Mr. Miles believers that there is in fact a possibility to do a loan mod in this case, however with a Trustee Sale date looming in a about two weeks there is little he will be able to achieve without a delay, and this could in fact effect this homeowners right / opportunity to do a short sale.

He has requested that I list the property for the clients which I have done. I am sending a copy of this to Bank Of America to notify them that HAFA was not offered to this client as is required and hopefully they will be able to forestall the date and do the SSA form as required.
As you know the lack of ability to get all the players on the same sheet of music, is hurting our communities.  Just a few days ago our community suffered a tragedy where someone ended their life because of foreclosure.
http://www.signonsandiego.com/news/2011/jan/03/santee-couple-whose-home-burned-down-were-financia/
When I read this article (link  above)  all I could think of was why was there was not a HAFA Short Sale on this property? Would  a little travel money for these senior citizens made a difference and made them feel cared for and connected to the community?  My heart is screaming at me!  I have to fight for these  people,  but without a meaningful adherence to the rules, with some penalty for rushing to foreclosure without a short sale offer, we as a Nation are looking at creating more of these situations.

I keep wondering, how can a burned out foreclosure, with dead homeowners  in any way be better than having short sold this property.   I know you feel the same moral dilemma I do, I am sure everyone reading this does, including everyone at Bank of America.  How do I do my part to help our community adhere to the HAMP / HAFA rules?

Do I write  a few more letters?  Does the public take to  screaming from a mega phones into Congressional Offices? I  know that will not work,  because  I know each of the Congressmen feel my same frustration, they see on a daily basis the Banks are not implementing the rules. Hopefully this issue can be addressed by Congress and Treasury, soon.  If we can put man on the moon we can offer a short sale after a HAMP denial, especially factoring in that it’s supposed be mandatory.

Should this  case result in a foreclosure I will advise you.  For now Mr. G(*&^(&#@ is my client and I want to do all I  can to get him ,  a loan mod first and if necessary a short sale  with the move out money provided for in HAFA.   This would create a win win situation,  as Bank of America would even get the HAFA Sericer money.  I have never seen a bank turn down profit opportunities, this has to be a mistake.   The only thing that makes me think it  is not a mistake is that as I was drafting this letter to you another person called me with the same issue, also from Bank of America, this person is another real estate professional that works in the title and escrow field.
When will a resolve come to our communities?  I encourage you, my Congressman and the Banks to act on this before there is another tragedy comes to pass.

George Kenner
Broker Associate
Keller Williams Realty
4700 Spring Street, Suite 180
La Mesa, Ca. 91942
www.HAFA.us
www.pricedNOT2Sell.com
619-723-5714
lic. 01229951
CC: Henry Miles , San Diego Urban League
Multiple Congressional Offices in San Diego County
Bank of America Loss Mitigation Management
California Association of Realtors
National Association of Realtors
********, American Banker
Rayam Mathoda, Assetplan USA,  (CAR HAFA TRAINER)
Mr. Steve Schmidt , San Diego Union Tribune (author of the above listed story.) 

At this time this was written the investor has not been determined,  if it is discovered to be Fannie Mae or Freddie Mac a copy of this e mail will be  forwarded to them to ask for HAFA consideration.  As best can be determined  the loan was a Countrywide loan that could be part of a  forced buy back from Fannie or Freddie.

END OF OPEN LETTER

George Kenner

Ca. Lic. 01229951,  tel 619-723-5714 ,    g.kenner@yahoo.com

all marketing done with the assistance of Kalablash Marketing

“good night Mrs. Kalabash were ever you are”

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