New Bill AB1779 - To Help Home Owners
- Length: 3:40
- Views: 3
- Author: c21realtorca
If you are a homeowners in California who lost your property in 2009 and wondering how you are going to pay the tax for the 1099A or 1099C form you have received from your lender here is the solution. The bill AB 1779 amends the California tax law with regards to foreclosure and short sale and conforms it with the Federal debt forgiveness law.
Paying Homeowners to Short Sale with HAFA North Scottsdale Real Estate
- Length: 4:6
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- Author: ThePrecisionTeam
www.North-scottsdalerealestate.com As part of the Governments Home Affordable Modification Program (HAMP) the treasury department unrolled the Home Affordable Foreclosure Alternatives Program (HAFA) which will pay homeowners to sell at a loss. This is in an effort to encourage more troubled homeowners to go through a short sale rather than a foreclosure. HAFA starts April 5th, 2010. $1500 to the home owner to ease their transition to a new home relocation assistance Servicing bank will get $1000. Another $1000 can go toward a second loan, if there is one The payments come out of the $75 Billion mortgage modification plan. As well, the program is supposed to help streamline and standardize the short sale process. Lenders and investment pools owning many home loans get more money from short sales Community and the lender doesnt have to deal with a vacant home (Up to 50% of vacant homes get ransacked) Borrower gets assurance the lender will not sue for unpaid mortgage balance Federal Program would require banks to accept offer if it is at or above the value assigned by a real estate agent Borrower must prove hardship and that foreclosure is immanent Here is the program outline from Home Affordable Modification Program www.hmpadmin.com Here is a Ney York Times article talking about Home Affordable Foreclosure Alternatives Program: www.nytimes.com
New Housing Program Target for Fraud?
- Length: 3:9
- Views: 19
- Author: FoxBusinessNetwork
Mortgage Banking Solutions CEO David Lykken on why a proposed foreclosure prevention program is a bad idea.
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