HARRIS REAL ESTATE UNIVERSITY STUDENTS (and future students) share this information with all of your clients, share on Facebook, your blog…everywhere. Q: What is a mortgage servicer and how do I know who services my loan? A: A mortgage servicer administers mortgage loans, including collecting and recording payments from borrowers. A servicer also handles loan defaults and foreclosures, and may offer loss mitigation programs to assist delinquent borrowers. The company that you make your monthly payment to is your mortgage servicer. Your mortgage servicer may or may not be a lending institution and may or may not own your loan. [...] Click Here To View More
Is Strategic Default, Short Sale Ethical? | Walking Away From Underwater Mortgage
Thanks to HARRIS REAL ESTATE UNIVERSITY Coach Mark Shandrow for sending me this article from The New Yorker. Read the original article here. Share this great article with all of your potential Short Sale sellers. Remember, there are 6,000,000 owners currently IN default and another 11,000,000 who are underwater. (actual number of underwater owners could be as high as 20,000,000 if those who are considered ‘near’ underwater. Meaning, they owe what the house is worth. If they were to list their home for sale, factoring in the normal selling fees etc..they would be underwater) We normally say that a company [...] Click Here To View More
Breaking News: States AGs Robo Signer Foreclosure Fraud Settlement (Video)
BREAKING NEWS: States AG Settlement. It appears the whole robo-signer, foreclosure fraud mess is finally coming to an end… ….or is it. This much lauded settlement will have virtually no impact on the housing market let alone the overall economy. What this suit will result in is MORE foreclosures. (not less) Why? Because in many parts of the US the foreclosure process has been slowed (or completely stopped) as the banks worked through this litigation. Remember all of those stories of owners living payment free….well, their free rides are coming to an end. As an agent, its crucial that you [...] Click Here To View More
Big Banks Paying Big Bucks For Short Sales…$35,000+ At Closing!
HARRIS REAL ESTATE UNIVERSITY Students (and future students), share this article with everyone you know. Use this information to further motivate your underwater owners to short sale their homes. Afterall, very little motivates folks more than money…how much money? How about $35,000 cold hard cash (and sometimes more) at closing. Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe. Lenders have routinely delayed or blocked such transactions, known as short sales, in which they accept less from a [...] Click Here To View More
Most Talked About Articles On Real Estate Insider News
Round up of last week’s leading real estate headlines from RealEstateInsiderNews.com Be sure to share these articles with your Facebook Friends….hit the ‘Like’ button now. * Housing hits bottom, how long will it take for homes to return to 2006 values? Read the article here. * Spring Housing Market could be the best in years!. Read the article and check out the video here. * President Obama’s announcement in last week’s State of the Union address that he has created a new unit to probe mortgage abuse. * The much lauded 2007 Mortgage Debt Forgiveness Relief Act is set to [...] Click Here To View More
Its Official: 2011 Was The Worst Year For New Home Sales…EVER! (Video)
After a welcome week of seemingly positive housing news….now, its back to reality. Its official: 2011 was the WORST YEAR for new home sales in U.S. History. (like we didn’t all know that already, right?) To the facts: * 1 out of every 5 homes sold in 2011 was a foreclosure * New home sales dropped in December * Home values are still on the decline (3-5%) * There will be a new wave of foreclosures in 2012. Remember that whole robo-signing mess? The states A.G.s are in the final stages of settling the massive suit with the nations largest [...] Click Here To View More
Agent Update: Fannie Mae HomePath Offer System | How to List REOs, BPOs
The HomePath Online Offers system launches nationally on February 2, 2012. This self-service, easy to use offer submission system can be accessed through HomePath.com. Beginning February 2, selling agents must submit all offers on Fannie Mae properties to the listing broker/agent through the HomePath Online Offers system. Review the checklist below to confirm you’re ready to begin managing your offers. Before the HomePath Online Offers system launch on February 2: √ Take the training! View the live or recorded training on HomePath Online Offers. Go towww.homepath.com/offerQuestion.html to view the recorded trainings. √ Verify that your contact e-mail address is the same [...] Click Here To View More
Breaking News: Housing Has Hit Bottom?..This Expert Says YES!
Has housing FINALLY hit bottom? This expert says YES. Watch this great CNBC Video and share your comments. Has housing hit bottom in your market…are you seeing the inventory of homes for sale starting to right-size itself? QUESTION: Why do 1% of the agents make 99% of the money? Answer: They are making money NOW doing REOs and BPOs. Why aren’t you? Watch the FREE 2012 Agent REO Secrets video and grab the NEW FREE REO/ BPO Book. NOTICE: Free book guaranteed for the first 100 agents only. Click Here To View More
Realty Trac’s Foreclosure Report: 2011 Foreclosures Delayed
Be careful reading this report. Foreclosures and REOs aren’t going anywhere. There were fewer foreclosures in 2011 for legal, processing and many would argue political reasons. Certainly NOT because there are fewer underwater owners. The simple fact is that we are at best (AT BEST) half way through this corrective cycle. 2012 IS seeing the release of more REOs than 2011 (and maybe 2010). We watch the NOD (notice of defaults) filings. Currently, the NOD filings are trending for a significant increase in REOs starting in the next 90-120 days. Remember, the NOD is the first step in the banks [...] Click Here To View More
Fix Housing Solution: Make REOs Into Rentals…Solution or Insanity?
Is the new American Dream to RENT A Home…(or as our favorite housing reporter Diana Olick says…are we now a Renter Nation?) Like it or not the millions (and millions) of REOs must be sold. Maybe making them into rentals is the best solution. Watch this video and share your thoughts. Click Here To View More
2012 Housing Trends | Fannie Mae Bulk REO Property Sales Program (Video)
Looking for 2012 Housing Trends? We are expecting the banks and Fannie/ Freddie to (FINALLY) embrace investors..heres why: Massive imbalance in supply and demand on homes. Maybe ‘massive’ is an understatement. Its estimated that 8-10 Million homes are headed for foreclosure over the next 5-6 years. There simply are not enough normal organic buyers to absorb this massive over supply. This huge gap in supply and demand will plague the market unless there is a radical approach to selling off the REOs. And that is exactly what is expected. As we shared with you last year Fannie Mae is going [...] Click Here To View More
Fannie Mae Secret Shopper Details Exposed | How To List REOs
Secret Shopper Program In 2010, Fannie Mae initiated a “secret shopper” program designed to gain qualitative insight into the knowledge, responsiveness, follow-up, professionalism and overall effectiveness of brokers and agents listing Fannie-Mae owned properties. As the program continues to expand, we will now share results directly with our real estate professionals in all markets. This will provide timely performance feedback as well as promote best practices across the organization. QUESTION: Why do 1% of the agents make 99% of the money? Answer: They are making money NOW doing REOs and BPOs. Why aren’t you? Watch the FREE Agent REO Secrets [...] Click Here To View More
NAR: Housing Crash Far Worse Than Reported (Video)
The National Association of Realtors has been overstating the pace of existing home sales by more than 16 percent. The trade group now says just 17.7 million existing homes were sold from 2007 to 2010, not the 20.6 million it originally reported. The NAR made no changes to its data on home prices. “From a consumer’s perspective, only the local market information matters and there are no changes to local multiple listing service data or local supply-and-demand balance, or to local home prices,” NAR economist Lawrence Yun said in a release explaining the revisions. It would not be the first [...] Click Here To View More
2012 Predictions: Dramatic Increase In REO Sales Expected
Fitch expects single-property REO and bulk REO sales to be key parts of the housing market over the next two years. However, uncertainties around FHFA’s next steps make the disposition of those assets and their impact on the housing market hard to predict and variable by location. The supply of REO is staggering. Lenders Processing Service, Inc. estimates that, nationally, over two million properties are currently in foreclosure. Corelogic, Inc. estimates the percentage of total sales that are distressed loan properties has averaged 25%-35% in recent months. More are undoubtedly coming. The investigation by several state governments into the processes [...] Click Here To View More
California Association of Realtors Housing Report (Video)
California home sales posted an increase both on a monthly and annual basis in November, marking the fifth consecutive month of year-to-year sales increases, according to figures released today from the CALIFORNIA ASSOCIATION OF REALTORS(R) (C.A.R.). Closed escrow sales of existing, single-family detached homes in California rose to a seasonally adjusted 503,570 units in November, up 2.1 percent from a revised 493,140 in October, according to information collected by C.A.R. from more than 90 local REALTOR(R) associations and MLSs statewide. November home sales also were up 2.3 percent from the revised 492,040 units sold during the like period a year [...] Click Here To View More
2012 Real Estate Predictions | Foreclosure, Short Sale Flood Coming…Are YOU Ready?
Looking for 2012 Real Estate Predictions… Here is the headline for all of 2012: Foreclosures and Short Sales Dominate U.S. Housing. There is NO question that the U.S real estate market is about to be hit by another surge of bank repossessions, according to RealtyTrac. Bigger than any surge experienced since the start of the housing crash. As banks resubmit millions of documents and courts begin hearing cases again, the backlog of over four million delinquent loans will start surging through the pipeline again. Agents, there are AT LEAST 11,000,000 homes underwater now. Factoring in the normal selling fees, its [...] Click Here To View More
Banks On The Hook For Potential Foreclosure Fraud
Thought the banks were off the hook for the robo-signing, foreclosure fiasco mess that started a few years ago? So did they. Earlier this year the banks (in exchange for billions of dollars) were very close to settling a majority of the fraud claims brought the states A.G’s. It was no secret that the Obama Administration was pressuring the A.Gs. to settle the suits. Now, its all come unraveled. Starting with the Great State of Massachusetts the A.Gs. are again on the war path. Watch this video and share your comments. QUESTION: Why do 1% of the agents make 99% [...] Click Here To View More
Deficiency Judgments After Short Sale or Foreclosure | Fairness in Foreclosure Act of 2011, H.R. 3566
What is a deficiency judgment and should defaulted owners live in fear of receiving one? From Wikipedia: A deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. [1] The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law. In some jurisdictions, the original loan(s) obtained to purchase property is/are non-recourse, but subsequent refinancing of a first mortgage and/or acquisition of a 2nd (3rd., etc.) are recourse loans. In short, many jurisdictions [...] Click Here To View More
How To List Freddie Mac REOs | How To List REOs
Freddie Mac REO Listing Information. If you are a Freddie Mac principal/designated broker in one of the following areas, please send your REO resume to supplier_services@freddiemac.com. The subject line of your e-mail must read, “Prospective Broker”, and indicate the state you are in and the county you serve. STOP: Agents, are you finally ready to dominate your real estate market? Become a Lender Approved REO and BPO Agent. FREE Training Video and Book. NOTICE: Free book guaranteed for the first 100 agents only. DOWNLOAD NOW>>> Alabama Wilcox County Florida Calhoun County Iowa Jefferson County Illinois Rockford County and Rock Island County [...] Click Here To View More
HARRIS REAL ESTATE UNIVERSITY PRESENTS: 4 Stages Of Learning
HARRIS REAL ESTATE UNIVERSITY PRESENTS: * 4 STAGES OF LEARNING. * Join Tim and Julie Harris for this FREE real estate industry training event. * LISTEN NOW TO INSTANT FREE REPLAY: http://InstantTeleseminar.com/?eventid=26342031 * This is the outline for this free training event: The Four Stages of Mastery in Real Estate 1. Unconscious Incompetence The individual does not understand or know how to do something and does not necessarily recognize the deficit. They may deny the usefulness of the skill. The individual must recognize their own incompetence, and the value of the new skill, before moving on to the next stage. [...] Click Here To View More
Categories: Breaking Real Estate News, Distressed Property News, Market Conditions, Market Conditions & Predictions, National Real Estate News & Comment, Predictions, Real Estate Coaching & Market News, Real Estate Industry, Real Estate News, Superstar Interviews - #1 real estate coach, #1 realtor coach, Breaking Real Estate News, foreclosures, harris real estate, harris real estate university, HREU, national association of realtors, real estate university, Tim & Julie Present