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Category Archives for "Gainesville Short Sale Agents"

Short sales are a process a homeowner can go through if they find themselves in a hardship position in either getting their home sold or if they are unable to keep their home. Information on if a short sale is right for you.

Strategies to Market your Gainesville Short Sale

Strategies to Market your Gainesville Short Sale – Anson Properties has expert Gainesville Short Sale Realtors who have successfully handled short sale listings, require listing periods of no less than 1 year on the Gainesville Short Sale Homes. During the listing period, short sale lenders are observing the status of the property. If it takes a period of time for the listing to be approved, the lenders may request an extension of the short sale to be listed. It is necessary to make sure to get duration of one year for the listings to avoid trouble. If it is near on the time-frame given, that’s the instant wherein we obtain another extension for the listing.

Aside from having 12 month listing period for the short sale, there are several points to take note while the listing duration is on-going. Here they are:

• Have a Marketing List of all the online and offline postings you have done. Track the post that you are listing on and the date of posting. Take notes of all the internet sites where you are posting on, like your blog, Trulia, Postlets, Realbird, Craigslist, Activerain, and others.

Provide an efficient showing schedule. MLS can provide a schedule system for showings where it produces a response form through email that can be printed along with other showings that the system has generated.

The showing sheet involves the name of agent, their phone number, brokerage name, time, and date. In the lower portion, you can also add a comment area for prospect buyers to fill in.

Store your Listing Files in an organize manner. There are several digital platforms like Dropbox and Google Documents wherein you can keep a soft copy of all your listing files. Aside from keeping digital files, it is best if you have a folder of the files in your very own office. The digital files are just a back-up for online transactions and other matters.

• For every short sale listing, keep a pricing history. In MLS, a pricing history is kept but it is important to have a paper file on-hand for emergency needs. You can keep them on the listing files as well.

If it is necessary, a seller will sign into a contract that Anson Properties are authorize to reduce the price of their home if it is needed in order to sell the property.

Other Articles to Read:

Why it is Important to Understand the Short Sale Process

3 mistakes to avoid when short selling your Gainesville home

Gainesville Short Sale Agents Rent To Buy Scheme

Military homeowners to get short sale assistance

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Gainesville – How to Process a Short Sale File

Gainesville – How to Process a Short Sale File
Anson Properties, who successfully handles short sale listings, understands the time sensitivity of the short sale process. During the listing period, short sale lenders are observing the status of the property. If it takes a period of time for the listing to be approved, the lenders may request an extension of the short sale to be listed. It is necessary to make sure to get duration of one year for the listings to avoid trouble. If it is near on the time-frame given, that’s the instant wherein we obtain another extension for the listing.

Aside from having an annual period for the short sale listing, there are several points to take note while the listing duration is on-going. Here they are:

• Have a Marketing List of all the online and offline postings you have done. Track the post that you are listing on and the date of posting. Take notes of all the internet sites where you are posting on, like your blog, Trulia, Postlets, Realbird, Craigslist, Activerain, and others.

• Provide an efficient showing schedule. MLS can provide a schedule system for showings where it produces a response form through email that can be printed along with other showings that the system has generated.

The showing sheet involves the name of agent, their phone number, brokerage name, time, and date. In the lower portion, you can also add a comment area for prospect buyers to fill in.

• Store your Listing Files in an organize manner. There are several digital platforms wherein you can keep a soft copy of all your listing files. Aside from keeping digital files, it is best if you have a folder of the files in your very own office. The digital files are just a back-up for online transactions and other matters.

• For every short sale listing, keep a pricing history. In MLS, a pricing history is kept but it is important to have a paper file on-hand for emergency needs. You can keep them on the listing files as well.

If it is necessary, a seller will sign into a contract that Anson Properties are authorized to reduce the price of their home if it is needed in order to sell the property.

Other Articles to Read:

Why it is Important to Understand the Short Sale Process

3 mistakes to avoid when short selling your Gainesville home

Gainesville Short Sale Agents Rent To Buy Scheme

Military homeowners to get short sale assistance

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Gainesville Short Sale Agent and Attorney Communication

Gainesville Short Sale Agent and Attorney Communication
Short Sales sometimes carry a bad stigma when it comes to the amount of time it takes to work through the short sale process. Though short sale lenders are improving their process timelines there is still much to be said about taking 4 – 6 months to work a file and keep both the buyer and seller on pins and needles.

It is important to have an attorney as part of your short sale to assist in answering any legal questions that may arise. If legal counsel is sought I would recommend doing so in the very beginning. You will also want to ensure the attorney you speak with not only handles (processes) short sales but also has plenty of experience. There are many attorneys out there that are great and those that have not navigated short sales, do not understand how to work with the banks and look out for their bottom line. Please make sure to do your homework on the attorney you hire and find out how experienced they are.

If and when you decide to bring an attorney on board it is imperative that you communicate with your short sale agent. Lack of communication and not having both your attorney and short sale agent on the same page can be detrimental to your short sale. You very well may experience delays, file holds, and refusal from the bank to work with your short sale agent.

Even if you provided your Gainesville Real Estate Agent authorization to work with the lender, bringing an attorney in after the file is established can prevent your agent from moving the file forward. The attorney must provide authorization as well for the short sale bank to continue to communicate with your agent.

I had a client who took advice from a friend and hired an attorney midstream of the short sale. I was not informed up front prior to the attorney contacting the lender and the file went on hold. The attorney was hired for short sale approval letter advice only but it prohibited me from having any communication with the negotiator until I was able to get a written and signed letter on letterhead from the attorney stating I was authorized on the account. Unfortunately, the attorney right after being hired was to be out for 4 weeks on medical leave and the file was unable to move forward.

The negotiator needed information from a representative of the file and I was unable to help since I needed the attorney authorization and the he was no where to be found. Since he was his sole office, no partners, I was unable to have another attorney provide it on his behalf. I had the seller contact the lender directly and write a letter stating they no longer were working with the attorney and wanted to file to continue. The negotiator demanded a letter from the attorney stating so. The seller finally retained another attorney to write the letter and provide the representation in order to prevent the file from being closed and from losing the buyer.

We had a successful closing but not without some unneeded delays and additional work on behalf of many parties involved.

Other Articles to Read:

Why Don’t I Just Let the Bank Foreclose?

3 mistakes to avoid when short selling your Gainesville home

Gainesville Short Sale Cost

My Gainesville Home Need Repairs, Can I still Short Sale?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Why Closely Monitoring a Gainesville Short Sale is Important

Why Closely Monitoring a Gainesville Short Sale is Important

Anson Properties received a short sale approval yesterday and from the start, working with the lender proved to be extremely difficult. We’ve jumped through several loopholes while maintaining as much patience as we could muster. The homeowner’s loan was transferred from their lender to ServiceLink for processing as a short sale and in doing so the loan number was changed. First of all the seller was not notified of the transfer until weeks after it took place, thus delaying our short sale communication. I would email and call and leave messages with our assigned negotiator at the original bank, with zero response in return. After 2 weeks of persistence I finally had enough and escalated the file to a supervisor which took an entire day of phone calls, transfers and being on hold. I was determined to get to the bottom of it no matter how much time it took. Once I finally was able to speak with a supervisor I was then informed that the file was transferred to ServiceLink.

The problem with this is that we will have to start the process all over again and the paperwork will have to be re-submitted with the new account number. This means the comprehensive short sale file will have to be redone with the new account information and resubmitted. Only problem is that we did not have the new account info. I hop on the phone with ServiceLink and knowing how to navigate the waters had to reference the file by the seller’s social security number. Not to my surprise they are unable to find the file. I walk them through how the file came to them so they can check with the appropriate department and I refused to get off the phone until I verified they had the seller and their account in the system and also obtained the new loan number. This took up my entire morning to resolve something that is not rocket science guys! Do you think they could stand for some process and policy improvement here?

I updated all the paperwork and submitted it to ServiceLink and we continued down the short sale negotiation path. Within about 2 months ServiceLink finalized their review, BPO and provided a Short Sale Approval Letter. The buyer and seller were in agreement in terms, we started the inspection and buyer loan process and low and behold the file is transferred again! Now it is with Seterus. Are you kidding me? We have a valid short sale approval letter.

Here is why maintaining correspondence and a log documenting conversations, points of contact with dates and times are so important. I spent 2 additional weeks speaking to supervisors to overcome the file transfer. This is important because Seterus wanted to start the process all over again and I was just not having it and our Short Sale Approval Expiration was coming up. After jumping on some desks as I like to call it and spending hours on the phone escalating the calls to supervisor, department head and finally VP did I get it resolved. I was successfully able to have the approval letter date extended to cover the delays caused by these institutions and made the closing happen.

This is why it is very critical you have an short sale agent on your side that knows what to do and does not take no for an answer. If agents do not stay on top of their files and do not follow up consistently this could have ended with no sale, seller in default and several upset parties.

Other Articles to Read:

Possible Outcomes If your Short Sale Approved

Why it is Important to Understand the Short Sale Process

Gainesville Short Sale Agents Rent To Buy Scheme

Gainesville Short Sale Qualification Process

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Gainesville Short Sale Owners filed against Leading Lenders

Gainesville Short Sale Owners filed against Leading Lenders Last year, several lenders vowed to work together with the underwater homeowners to avoid deceitful practices as mentioned in the national legal settlement. However, just recently, there are numerous homeowners in Florida who reported complaints versus the leading lenders.

A deal was made by several states and federal leaders last February which was believed to compel America’s top five lenders to minimize their interest rates, trim down principal or propose cash to those mortgage clients that are struggling.
What has surfaced recently are largest lenders’ clients are greatly disappointed. The percentages of those complaints are in immense numbers; this record was provided by the Florida Attorney General’s Office to the Orlando Sentinel.

Bank of America 39%
Wells Fargo 28%
JPMorgan Chase 28%
Citi 9%
Ally/GMAC 4%

One of the complainants is a condominium owner in the business district of Orlando who opposes to the decision of the legal settlement in which “underwater” mortgage customer who has a property that is now cheaper than the loan will not be able to work with a bank unless the lender is not just a mortgage servicer but as well as own it.

This complainant mentioned that Florida Attorney General and several state attorneys have let the banks reserve a little amount of money to satisfy the needs of the customers who have been deliberately paying on their underwater mortgages. In Florida alone, there is a huge $8.4 billion shared to the state under the settlement but lenders are entailed to use only 4 percent to aid some homeowners in settling their mortgages.

The number of underwater homeowners is very high that the banks cannot refinance all of them. In Orlando city alone, there 250,000 houses are currently worth much less than their mortgages reported by a real-estate research group, CoreLogic Inc. The Florida Attorney General is now facing 1,000 complaints by Floridians against five lenders who processed unlawful mortgage documents.

Upon the announcement of the settlement, the Florida Attorney General Pam Bondi mentioned that the settlement will serve as an aid to struggling homeowners in Florida. The same with the U.S Department of Justice Officials, they said that the result of the settlement will help homeowners all over the country because the mortgage principal is minimized and the loans will be refinanced.
Florida prepared a committee to look closely to the mortgage servicers to see to it that they will comply with the agreement.
Bondi’s Office promised to help ensure that the lenders are complying with the settlement, and they expect to set aside large sums of money to cover the cost if follow-up will be needed as well as investigations.

Some critics said that the problem is not with the compliance of the lenders. The problem is the settlement because it do so little to relieve the homeowners.

Other Articles to Read:

736K self-insured Florida residents to get rebate

30-year FRM hits record low at 3.66%

Gainesville Short Sale Agents Rent To Buy Scheme

Gainesville Short Sales – Why Don’t I Just Let the Bank Foreclose?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Military Homeowners To Get Short Sale Assistance

Short Sale Policy Information for Military Homeowners

Federal Housing Finance Agency (FHFA) acting director, Edward DeMarco, announced short sale policy changes for active-duty military homeowners.

With this new set of rules, military homeowners can now short sale their homes without having to take a loss. This means they will be free from any deficiency judgments— no cash contribution or promissory note at closing. Plus, they don’t have to default on their loans to qualify.

This policy applies to military homeowners with Permanent Change of Station (PCS) order whose mortgage is backed by Fannie Mae or Freddie Mac. Furthermore, the home must have been bought on or before June 30, 2012.

PCS orders usually require a quick move. This creates hardship for military homeowners who are underwater but couldn’t sell their homes without significant losses. FHFA developed this new policy to provide military homeowners with access to immediate and automatic full range of foreclosure alternatives.

Extending short sale assistance to men and women serving in the armed forces is in the best interest of everyone as they would be able to focus more in their duties to defend the country, rather than worry about the maintenance and leasing of a property in another jurisdiction.

Last year, PCS orders have been considered a qualified hardship for forbearance and loan modifications by Fannie and Freddie.

Other Articles to Read:

Why it is Important to Understand the Short Sale Process

3 mistakes to avoid when short selling your Gainesville home

Gainesville Short Sale Agents Rent To Buy Scheme

Determining if you have a Financial Hardship

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.

Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

736K Self-Insured Florida residents to get rebate

736K self-insured Florida residents to get rebate

The Florida Department of Health and Human services announced that health insurers will pay $124 million to about 1.3 million Florida self-insured residents. The amount may vary but the average is about $168 rebate per household.

This rebate is part of President Obama’s 80/20 rule in his Affordable Care Act. This health care reform requires insurance companies to spend at least 80% of consumer’s premium dollars directly on patients, medical care, and quality improvement. The other 20% should be allocated for administrative and operating cost such as salaries, sales, and marketing.

Insurance companies who do not meet the 80/20 rule must send rebates to their policyholders not later than August 1 this year. It has been reported that about a third of the insurance companies have not met the 80/20 standards.

On a national level, health care insurers will refund about $1.1 billion to 12.8 million people.

The Health and Human Services noted that some insurance companies spent as little as 60% of premium dollars on consumers, during which, these companies saw record profits while policyholders only saw record premiums.

There is no qualification or application needed. Residents who maintain a personal health insurance policy and deserve a rebate will either receive a check in the mail or credit will be reflected on their next insurance bill.

Other Articles to Read:

My Gainesville Home Need Repairs, Can I still Short Sale?

Gainesville Residents are Not Scared by the Housing Crisis

Possible Outcomes If your Short Sale Approved

When Can you Own a Home Again After Foreclosure?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

30-year FRM hits record low at 3.66%

30-year FRM hits record low at 3.66%

Short-term mortgage rates to remain unchanged, according to 50% of experts polled by Bankrate.com. Experts who account 17% of the poll foresee further drops, while the remaining 37% predicts an increase.

The average U.S. loan interest rate for a 30-year fixed mortgage fell this week to a record low for the 7th time in just 8 weeks. Cheap mortgages take the credit for the modest recovery of the unstable housing market.

Freddie Mac disclosed that the average interest rate on a 30-year loan dropped to 3.66% from its previous rate of 3.71%. This is the lowest interest rate since the long-term mortgages began back in the 1950s.

Meanwhile, the average interest rate for a 15-year mortgage declined to 2.95% from its previous rate of 2.98%. The current rate is just a little higher than the record low of 2.94% hit two weeks ago.

Since December of 2011, the rate on the 30-year loan has been down by a good 4%.

Low rates help the economy if more people refinance. Refinancing at lower rates allow borrowers to pay less interest on their loans and have more cash to spend.

Other Articles to Read:

Gainesville Homeowners – Have an FHA Loan – Help on the Way

Gainesville Residents are Not Scared by the Housing Crisis

Gainesville Short Sale Agents Rent To Buy Scheme

When Can you Own a Home Again After Foreclosure?

Call Stephanie Anson today at 352-535-0620 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Foreclosure review deadline, extended

Foreclosure review deadline, extended

Foreclosed homeowners who think they may have been victims of unfair foreclosure process between the years 2009 and 2010 have two more months to ask the federal government to review the proceedings.

The Independent Foreclosure Review intends to determine whether individual homeowners suffered financial harm and should receive compensation or other remedy because of errors, misrepresentations, or other deficiencies that may have occurred during their home foreclosure process.

Request for review have been extended to September 30, 2012. The Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve) emphasized that ex-homeowners who believe that they have been financially injured due to the errors in foreclosure actions on their homes in 2009 or 2010 will be duly compensated, provided that the foreclosure was done by one of the 27 lenders participating in the process.

The government has released guiding rules to follow in calculating for the compensation. Such compensation could be in a form of a lump-sum payment, suspension or cancellation of a foreclosure, loan modification, loss mitigation assistance, correction of credit reports, or correction of deficiency amounts and records.

It has been reported that lump sum payments can range from $500 to $125,000 plus equity.
Eligibility for Independent Foreclosure Review includes the following:
a. The property securing the loan was the borrower’s primary residence.
b. The mortgage was in active foreclosure process (initiated, pending, or completed) at any time between January 1, 2009 and December 31, 2010.
c. The mortgage was serviced by participating mortgage servicer.

The newly released guidelines do not cover all possible foreclosure scenarios, but here are some examples of harm that could qualify for compensation.
– Foreclosure in violation of Servicemembers Civil Relief Act.
– Foreclosure in violation of federal bankruptcy laws.
– Foreclosure of a borrower not in default.
– Failure to convert qualified borrower to a permanent modification following a successful completion of a written modified payment plan.
– Foreclosure while a borrower is complying all requirements of a written modified payment plan.
– Turning down loan modification application that should have been approved.
– Failure to offer loan modification options as required.
– Offering loan modification of higher interest rate that should have been charged under the program.
– Committing errors that did not result in foreclosure but resulted in other financial injury.
Note: Borrowers can still file other actions while requesting the mortgage review. A servicer cannot require a borrower to sign a waiver not to pursue other claims under the Independent Foreclosure Review. And there are no costs associated with the review.

Participating independent foreclosure review lenders:

America’s Servicing Company
Aurora Loan Services
BAC Home Loans Servicing
Bank of America
Beneficial, Chase
Citibank
CitiFinancial
CitiMortgage
Countrywide
EMC
Everbank/Everhome Mortgage Company
Financial Freedom
GMAC Mortgage
HFC
HSBC
IndyMac Mortgage Services
MetLife Bank
National City Mortgage
PNC Mortgage
Sovereign Bank
U.S. Bank
Wachovia Mortgage
Washington Mutual
Wells Fargo
Wilshire Credit Corporation

Other Articles to Read:

My Gainesville Home Need Repairs, Can I still Short Sale?

Gainesville Residents are Not Scared by the Housing Crisis

Gainesville Short Sales – Why Don’t I Just Let the Bank Foreclose?

When Can you Own a Home Again After Foreclosure?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

1

REO agents under investigation for AG settlement

REO agents under investigation for AG settlement

Real estate agents washed their hands clean from the problems that led to the $25 billion “robo-signing” settlement with the nation’s Attorneys General—but it doesn’t mean that they will not be affected with the issue in any way.

Within the grounds of legal agreement, mortgage servicers are required to justify their payments to external firms that handle everything from documentation to asset management which includes REO brokers and agents who handle the listings.

Real Estate Owned specialists are paid to conduct inspections, provide broker-priced opinions (BPOs), and handle trash-outs and other services. However, the settlement clearly states that these providers should not be paid if they encourage undue haste or lack of due diligence over quality. The spotlight will focus more on BPOs since poor valuation can negatively affect the values of neighboring properties.

At a recent industry event, REO agents and brokers are encouraged to strengthen their businesses as to withstand the scrutiny.

Michael Waldron, a partner at financial law firm Ballad Spahr, warned the 60 REO brokers who attended a panel discussion that the issue will involve everyone and that they will start to feel the effects of the settlement.
Those who have been involved in any way will be further examined.

Other Articles to Read:

Gainesville Homeowners – Have an FHA Loan – Help on the Way

Gainesville – Principal Loan Reduction

Is your Gainesville Short Sale Lender Delegated?

Top 10 best places to buy foreclosed homes in 2012

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents