Shortsalenurse's HAFA Blog

January 30, 2012

OK! Bank of America and Freddie Mac CEO’s, The BALL Is On Your Side of the Court ! UPDATE UPDATE UPDATE!

Fair Warning Was Given!  I have e mailed, made repeated calls, I have even sent pictures of this home to try to bring it to a fair value with Bank of America management but nothing has happened.  This means the PUBLIC FIGURE CEOs are the only ones to turn to. Were I them, I would pic up the phone and call me to say thank you for bringing this “systems issue” to their attention.  Will they fix this or will they run and hide from simple questions?

Let me share a few other things  I have done to support the efforts I have made to bring this to a resolve.  I have sent in local foreclosure “Pin Maps”,  I have begged borrowed and pleaded with my fellow Realtors to bring me some type of offer but they tell me I am nuts.  I use coded entry log lock boxes, and those entry logs were provided to the bank to call the other Realtors to see if what I was saying was true.  Were all my fellow Realtors and their clients crazy?  Was the Market lying?   I will give the CEOs the name of a Real Estate Managers in my area who have seen this home and found it was not properly priced, if they want to call.

This is the first of what may be more videos on this home.  There is really more to say.  Frankly I want to know who owns the appraisal company that valued these properties and did not tell Freddie Mac that FHA was the prevailing loan used in this demographic and that it would not be eligible because of condition.  Freddie Mac belongs to us, the “Tax Payers” the way they are doing business is our business.  Do they really not know the condition of this home and was it hidden from them?

HERE IS ANOTHER HOT  QUESTION for the CEO of Freddie Mac.   Why not give us a special HOME PATH Rehab loan NOW?  Why wait till it is foreclosed upon.  Please give me the logic for this, because I can not see it.   STAY TUNE FOLKS.. if this is corrected I am going to pull this video as there is no reason to make villains but on the other hand we have to have change in the short sale system for US the taxpayers.  We are backing programs and people who don’t seem to have a handle on the problem.

The picture of me holding video ball is part of an e mail that I am sending to my friends in the Industry.  It will show up on your Iphone, or I pad or your droid and go straight to the UTUBE by just tapping the ball.   If you want a copy of this to forward to your friends by all means just ask i will send you a copy of the e mail it can be fowarded and in most systems the link is maintained.  Sooner or later someone will know one of these CEOs and they will see the reason it is important to help my clients and my community.  I have heard the banks say many times that they want to short sell.

Am I not doing them a service bringing this to their attention?

All Marketing done with the Assistance of Kalabash Marketing, Good Night Mrs. Kalabash where ever you are!

George Kenner, Broker Associate, Lic # 01229951 – Keller Williams Realty.619-723-5714     G.kenner@me.com

Top Secret Message for Mrs. Kalabash… dont be taken your eyes to places where they are not invited!

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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

November 28, 2010

A Fresh Start, HAFA is it expanding? We think so!

HAFA Short Sales: A Much Needed “Fresh Start” Program For Troubled Borrowers

by Ray Mathoda, Founder and CEO AssetPlanUSA

A recently implemented foreclosure alternatives program created by federal officials is reflective of what many real estate professionals know already: for those experiencing significant loss of household income, financial stability and a job are more important than short term retention of home ownership.

The Home Affordable Foreclosure Alternatives – or HAFA program – designed by the Treasury Department and implemented by Fannie Mae, Freddie Mac, and loan servicers representing more than 90 percent of all loans outstanding offers short sale and deed-in-lieu opportunities to millions of distressed homeowners who are struggling to make their mortgage payments due to labor market issues.

Short sales are the primary foreclosure alternative offered under the HAFA program. With its mandatory implementation in the non-GSE market starting April 5, 2010 and its adoption by both Fannie Mae and Freddie Mac on August 1st, 2010, HAFA becomes the only standardized nationwide short sale program offered by multiple loan servicers with mandated debt forgiveness by all lien holders and $3000 in relocation support to help families move to affordable housing and regain their financial footing.

Until now, debt forgiveness for qualifying families has been a critical missing ingredient in the short sale industry – affecting homeowners as well as the real estate professionals supporting them during their time of need. Loan servicers – who represent the interests of loan investors (not consumers) – have been reluctant to promise debt forgiveness when approving short sale transactions due to fear of potential lawsuits from loan investors aiming to maximize their collections on bad debt.

Now, the HAFA program has set a clear and much needed market standard – for qualifying families with unaffordable mortgages on their primary residence – debt forgiveness should be the norm. Finally, we can offer distressed borrowers a respectful exit and fresh start outside the foreclosure process.

This information is presented with the permission of AssetPlanUSA. It is not an endorsement for ShortSaleNurse. com or http://www.HAFA.US.    Because there is a large number of Realtors that visit this blog, it is important that they also see what is taking place with HAFA.  Get ready for an announcement shortly that the Arizona Association of Realtors is also going to endorse AssetPlanUSA  HAFA training.   Right now this is just a rumor from a fellow Realtor, but they are generally right on leading edge of HAFA news. HAFA makes sence and everyone knows it!

All marketing done with the Assistance of Kalabash Marketing

Goodnight Mrs. Kalabash where ever you are!

George Kenner Broker Associate Lic. #01229951

619-723-5714

October 25, 2010

Notice of Default Search System, Will this help with HAFA?

Many of my clients were looking for an easy way to see if a Notice of Default had been filed on their property.  Considering the ROBO Signing Scandal and the “fast tricks” that the banks have been caught playing people are lots more suspicious of the process of Short Sales and Foreclosure.

This is a widget from www.ForeclosureRadar.com that will allow you to get a better look of what is happening in your area.  If you need more specific information please let me know, I will aid you get the public records that you need.  You can go straight to the widget at HAFA.us  by clinking  **HERE**

 

George Kenner, Broker Associate,  Keller Williams 619-723-5714

CA. Lic. 01229951  “good Night Mrs. Kalabash where ever you are.”

January 11, 2010

No, an HRC is not a new Car in the Toyota line up!

As the banks and the government continue their attempts to resolve the Housing Crisis every now and then they fall upon a great idea.  Home Retention Counselors are one of those great  ideas.

Many of the major banks have hired third party companies to contact homeowners in distress.  These companies have contracted  with trained real estate professionals to visit  clients homes in person.  The Banks want a pleasant human face to share the fact  they want to help.  The Banks believe their clients need to know the new  Treasury Department programs may help when other options have failed.

In some cases HRC’s  are there to offer help with getting documents together,  in other cases they are there to let the client know there may be an opportunity to Short Sell the home.  In some cases Major Banks are offering  as much as  one percent of the value of the home if someone “Short Sells” instead of forcing a Foreclosure.

Banks using  HRC’s in my opinion is  legitimate attempt by the banks, to an aid clients come to “Win Win” situations by using programs sponsored by the Government like the Foreclosure Alternative Program. That is one of the reasons that many of the Short Sale Nurse staff are trained Home Retention Counselors.

If an HRC has come to your door, again in my opinion they are not the enemy they are real estate professionals that want to direct you to some of the most up to date information about some of your options.   Because they are paid a stipend  by the Bank thought a third party HRC”s  are subject to Federal Fair Debt Collection Practices Act. They may report back to the bank what you want to do  and thus must disclose they are working for a “Bill Collector.

If you have any question about the role of an HRC  I am happy to answer your question or direct you to one of the third party companies that are aiding the banks.  More times than not the HRC will only request that you again open the lines of communication with the Bank to discuss the possibilities that exist based upon the Treasury Departments Foreclosure Alternative Program

As is customary in Real Estate the rule is disclose disclose,  disclose.  For that reason I will say I am not giving legal advise, it is always your right to consult and attorney as you feel it appropriate, no one should advise you not to contact and attorney.

If you want to learn more about the options that are going to be presented to you before your bank assigns a Home Retention Counselor  any of the Short Sale Nurse Staff members would be happy to visit you  and discuss the options.

All marketing done with the assistance of Kalabash Marketing

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

George Kenner is a Broker Associate at Keller Williams Realty in La Mesa, Ca.  Lic Number 01229951

August 10, 2009

Magnets, A Home In Point Loma, Little Gray Men

aircraft_carrierThe other day a few friends of mine met at our favorite San Diego taco stand over looking the Bay. From the vantage point of our table we could see one of the Aircraft Carriers coming into the bay. Our respective careers took us in different directions so three industries were represented. Real Estate Broker, Medicine (MRI TEC) and Banker.

The MRI TEC is always interesting to talk to because he follows advances in science and the Banker and I have educations that were science based. Last time we met he was discussing Cold Fusion as a source of energy, and how someone right here  in San Diego may have worked it out, but our discussions always seen to come back to the ecomony.

Looking out over the bay to the aircraft carrier the MRI Tec told us that he saw a special where the Navy is working on launching planes off Aircraft Carriers with Magnets. I mentioned that I had seen something recently where they believe it is possible that Crop Circles are being created with magnetic forces and the Banker had to chime looking for humor and said, “Money is getting a little easier to borrow but we are not giving it to the little gray men that are making crop circles, yet. ” We all laughed and though about things that had nothing to do with the ecomony for a few minutes.

The Banker started humming a song that had to be inspired by the theme of our discussion and looking to Point Loma he stopped humming and said “Someday I will buy a home on that hill right over there” pointing in the direction of Cabrillo Monument. Well I hope everything gets worked out, the Navy figures out the magnets, little gray men from where ever find a way to borrow money and my friend buys his home in Point Loma, if its a short sale or a foreclosure and he saves a ton of money, even better.

I guess there is that bond of friendship that makes us all want our friends to find what they are searching for. In contemplation , I guess  what brought me to Real Estate,  was the feeling gained by helping people in their search for a home, chase their dreams and solve their problems. The Real Estate Market is going to spin forward and I don’t want to predict when but I bet it is before they find out what is making crop circles. If mankind finds out aliens are making crop circles, I bet people quit buying and selling property,,,,,,, Na.. I guess there is nothing to worry about, I’ll bet you crop circles (2) are being made by unemployed English Bankers or are they?

George Kenner is a Broker Associate with Prudential California Realty, in La Mesa California. He can also be found at NumberOneInSanDiego.com or contacted at 619-723-5714. George Kenner is also the owner of Kalabash Marketing.

August 2, 2009

Is any of the Data We are Getting Correct

laughing teenage girl using computerIS ANY OF THE DATA WERE GETTING CORRECT

Recently the San Diego MLS was discovered to have been submitting bad data to the California Association of Realtor based upon ERROR. This story has had REALTORS accused of painting a picture of Sunshine on a Cloudy Night. The story has been covered in the Wall Street Journal, the Voice of San Diego and now the Blogs as we the professionals that pay for this error defend themselfs.

Well I am here to say, its my opinion we are still in a strong “Buyers Market” and my mystic has put the question to the crystal ball for when this is going to change and the responce was suprising. The crystal ball said look at the MLS Data. The Crystal Ball must not be reading the Internet.

I think the best way to get a veiw of the market is to look at the Data yourself. If you click on the picture in this post you will be directed to both and MLS and Pubic Records search system. There is nothing like seeing the market with your own two eyes.<

June 23, 2009

A Little Empathy, Advertising for Short Sales

Marketing is part of what we do but is there any reason to lose compassion?  I am going to share this story because it is the right thing to do.  Today I went to a listing presentation and was complemented by the future seller of the property for being understanding. The marketing piece I sent was “ Short Sale Specific” but it did not announce that I discovered  he was in trouble with his own mortgage payments , let alone that his “Notice of Default had been filed by the lender.   As many of you know that is a required document to be filed with the County where you live.  This is how lenders, investors and Realtors come to learn about a client’s possible needs.

 

Instead I always ask if the person I am mailing to knows of anyone in trouble.  Why would I want anyone’s friends, parents, or children seeing that they have a problem and that they are doing the best they can do to handle.  If I don’t  address them specifically (by name)  in  my marketing  they have a plausible deniability.  I say let the people hold their pride, being late on your bills can be devastating to someone who has gone years with perfect credit, only to be swept up in this economic disaster.

 

Not everyone that gets a “Notice of Default” has the inability to make good on their debts.  This is one of the best reasons that President Obama’s “Foreclosure Alternative Plan” makes so much sense.  It encourages people to go try and work out the problem now before  it is to late to get any help.

 

I encourage my fellow professionals to consider who they are mailing official looking notices to and announcing that they are “IN DEFAULT”.   People will still do business with you if you don’t scare them.  In fact you may find that even more people will do business with you if your really looking out for them.

 

George Kenner is a licensed California Real Estate Broker with 19 years of industry experience.

 

June 17, 2009

Short Sale Referral Companies I don’t recommend using one. In fact I see them as worthless to the Public and Dangerous for Agents.

New industries pop up in times of need and some of them are not in the best interest of the “Public”.    Bulk consolidators of “Short Sales” is one of them.   I am contacted daily by outside firms to take referrals from them and pay a fee.   To me this is unacceptable and here is why.

 

One of the biggest reasons is I have no idea what they have promised the seller of the home.  I do not even know if they have advised the seller to contact an attorney or tax professional.   In theory I could even suffer at the hands of the Department of Real Estate for doing business with an unlicensed agent.  One company that contacted me was located in Texas and was using a Real Estate License out of Oregon.  They would never see the eyes of the seller,  all they would see is some dollars transferred into their account if I did my job correctly.

 

Also I do not know if they offered to direct you to other avenues of assistance.  I feel a professional and moral obligation to see if there is a way to save your home.  That is why I like the President’s Program.   The flow chart of that program is LOAN MODIFICATION then Short Sale then Deed in Lieu..   Again if a home owner can get a loan modified,  I consider it a victory for every Realtor.  Realtors are an important part of every community and we want a return to a normal market and we want our neighbors to stay where they are if that is possible.

 

I see no reason for anyone to pay thousands of dollars to someone who is only involved in your transaction from the standpoint of setting up an internet site making a phone call and sending you to the professional that can and will truly help you.

 

So if your called by someone from outside of your community or you find an Internet site that is making claims to good to be true.  Look at it with caution.   If your selecting a Realtor why not give a few a call.  Trust that gut feeling, you will know if you have the right person there to help you.

 

George Kenner is the author of this article.  He is a Broker Associate for Prudential California Realty in La Mesa, Ca.   His Real Estate experience  includes approximately 10 years working as a Mortgage Loan Officer in a Federal Saving Bank.  He is happy to answer questions in private that are sent to his e mail at http://www.shortsalenurse.com.

June 15, 2009

HOW TO SELECT A SHORT SALE REALTOR

Being faced with selecting a professional in a less that positive situation can be stressful.  I strongly suggest that you consider several things, with “RESPECT” for your difficult situation being  the most important.  Leaving a home is never an easy thing and someone sensitive to your situation can make all the difference in the world.

 

In years past I had a friend who went thought some hard times that were not of his making.  He struggled as hard as he could to keep his home but he lost it in foreclosure.  He was not only able to get back on his feet he was able to buy a better home than the one he had  just a few years later. 

 

Today in this down economic cycle he is doing fine.  No one should judge you a failure in these hard times,  transitions happen in life there can be no highs with out the lows to compare them to.  Our human feeling for one another build hope and lead us to succeed once again.   I guess what I am trying to say is find someone with true compassion for your situation and it will be easier.

 

Communication is  important in a  short sale transaction,  there is an additional branch of communication so to speak, normally the bank is not involved,  but in a “Short Sale” the bank is very involved.  For that reason I would strongly suggest that if possible you find a Realtor with prior banking experience.  This is not mandatory but it is a real good idea.  Bankers use a special “Jargon”  they have their own language and they will test you to see if your up to speed.  If the Realtor you like does not have this experience I say go with your intuitive feelings, your gut will not lie to you.

 

In the market today you will find Realtors form teams to support each other.  The demands on a good agent can remove any private or family life and that is not good for the agent or the client.  If your going with a team, look at who the leader of the team is.  Ask about the team leaders level of professional experience,  that can be a good guide.  I for one am always happy to talk to or meet with a client if I could be called upon to help.

 

This is the same thing that is frequently done for me when I am talking to lender clients.  It is not unusual for the Corporate Vice President of our national company to come to a lender meeting with me.  This instills confidence and provides a link in the case of an emergency situation.  No one in real estate is better than the support that is provided to them. More frequently than not information about both the Realtor and his support staff can be found on their web sites. 

 

 

Know who to call if you have a problem.  Even thou I am a Broker with 19 years of experience I still tell my clients that there is someone else they can talk to if there is a communication problem.

 

Be cautious of anyone that is more focused on claiming they are an expert or specialist Chest pounding about how good they are and how worthless their competition is  will not help anyone.  Look for the person that has an understanding of your situation and takes the time to listen to you and your concerns.  No two short sales are the same, you want an expert,  an expert who will listen to you and try to accommodate your needs.

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