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Short Sales
CashFlowDiva
Learn how to find short sale opportunities and get them approved and closed quickly. It's estimated that there will be 4-5 million more foreclosures this year and each one is a potential short sale opportunity.
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New FTC Rules for Short Sales
NAR
The Federal Trade Commission ("FTC") has issued a final rule that may impact real estate professionals who represent clients involved in a short sale transaction. Depending on certain factors, the rules may require real estate professionals to make certain disclosures to consumers if they negotiate a short sale with a lender, advertise short sales experience, or take upfront fees from short sale sellers. The MARS rules took full effect on January 31, 2011- click here to view the MARS rule. . . .
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Short Sales
These are interesting times we live in. Interest rates are hovering around a 40 year low. The Economy is funky to say the least. Foreclosures are at an all time high - doubling and tripling in many parts of the country. People have lost incomes. . . .
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Loss Mitigation Updates!
Scott Britton
Mortgage Servicers all have a Loss Mitigation department. Some call them by another name but the purpose is the same... to mitigate the losses on a defaulted loan. By the way, Lenders do experience losses when a home goes into foreclosure. I read a recent article from Freddie Mac putting this number at $60,000.00 per foreclosure. Wow! . . .
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