WHO SAYS SHORT-SALE LENDERS CAN'T DO MATH?

Several months have gone by and nothing has changed in the short-sale real estate market.  Homeowners are still struggling with protracted short-sale timelines which have an incredibly high fall-out rate.  Some short-sales stay on the market up to 1000 days!  And, Lenders and their Investors are struggling to capture more of their lost equity.   Homeowners are on one side of the Grand Canyon and Lenders and their Investors are on the other side of the Grand Canyon.  The way I see it, this type of hold out for the last penny will go nowhere as homeowers are still not fairing any better in making their loan payments.  It is a game of chicken on the U.S. Economic Highway.

Nevertheless, Realtors know how to get buyers and sellers together as this is our job description.  Why then do Lenders and their Investors ignore real estate professionals?  In many cases, Realtors are debased in their efforts to complete short sale transactions.  The cost to Lenders and their Investors is huge, but, the cost to the U.S. Economy is monumental.  Not transferring out the unstable loans into the new stable loans is costly to Lenders and their Investors, not to mention devasting to our economic recovery.  It is like having a map but taking the uncharted road and then wondering why you got lost.

The simple math tells the story.  Delay = $$higher overall costs.  Move forward with the needed Short-Sale transfers of title = cut losses, save money, move on, and stimulate the economy.  Lenders, do the math!


The simple math.



IT IS TIME TO JOIN THE PARTY!

I have been watching and working short-sales in my area and have noticed some disburbing trends.  As hard as realtors work on these deals the process keeps getting bogged down by many servicers.  The right hand still does not know what the left hand is doing.  This is bad for the process.  This is bad for the investor.  This is very bad for the homeowner and the hard-working front-line listing agent who only works on a commission basis.  Too many times I have heard from Short-Sale department personnel, "You can't win them all," or "Better luck next time," or my personal favorite, "You may need more education in how to do Short-Sales!"  I would bet these same personnel would feel very different if their paychecks were based on the closing and not the hourly wage.  Therefore, I would ask that servicers and Short-Sale personnel join the Short-Sale party with the realtors they depend on to get the job done.  Let's be the team the U.S. Economy needs us to be.  Let's work together and reduce the Short-Sale fall-out rate!  Just a thought. 

CONGRESS PROPOSING 20% DOWN PAYMENTS FOR HOUSING LOANS



NO HOUSING, NO ECONOMIC RECOVERY



Tell Congress: 20% Down Payments Put the American Dream Out of Reach

Could your clients afford a 20% down payment? Could you? Can you envision what your prospective client pool will look like if new regulations governing Qualified Residential Mortgages (QRM) take effect this year?

Neither can we. And neither can many elected officials in Congress who did not intend for these regulatory provisions to be so narrowly defined. We must continue our
efforts to explain how detrimental the new QRM rules would
be to the ongoing housing and lending crisis in America.

Please contact Congress today and ask them to please make it clear to the regulators that this was not their legislative intent and to instead implement a more reasonable Qualified Residential Mortgage (QRM) that will keep credit-worthy buyers in the market and able to acquire a loan.

(Via NAR call to action)

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DON'T LET THE SHARK EAT HOMEOWNERSHIP!



Frank-Dodd Bill

Tino Diaz is one of the most dynamic lecturers I have heard in a long time, breaking-down complicated economic statistics for our benefit and education.  As real estate professionals it is up to us to make a stand for affordable real estate financing.  We need to oppose the Frank-Dodd Bill.  We cannot do this if we are not informed.  You can contact Tino Diaz for his lecture schedule at tinodiaz@CharisPros.com. 



We can collaborate on getting Tino Diaz and this important information to the L.A. area.  Send me a comment.  If you were lucky enough to have gone to the NAHREP-IE provided lectures then send a comment on how you felt about the lecture.  Many commitments for Code of Trust.  We can do this!

Tino Diaz: "ROME IS BURNING" Lecture

Wow, what an amazing breakdown of of the economic forecast of the effect of the proposed Frank-Dodd Bill.  For all those who attended the NAHREP-IE offerings in Rancho Cucamonga, Palm Desert, or Corona, all were completely impressed with Tino's research and presentation.  You have never understood U.S. Economics better than when Tino explains it to you.

The importance of understanding the proposed Frank-Dodd, as a real estate professional, cannot be over-emphasized.  If this bill passes, our industry will change dramatically and not for  the better.  We need to stand together, as one voice, to oppose any legislation that will impede homeownership, particularly for those of diverse backgrounds.  Homeownership is the No. 1 provider for building wealth and this impact grows exponentially the lower the income.

Check the NAHREP-IE website for more information where you can get a copy of this lecture, or find out where Tony Diaz will be speaking next.

Can Newt Gingrich really become President of the United States?

After years of judgmental commentaries on the poor, on same-sex marriage, and on women's issues, can this person really become the President of the United States?  Does a Presidential candidate need to have eloquence in the way they address all citizens of our country?  Before Newt Gingrich makes a move toward the highest public service position of our country, he may want to think about charm school.

THE WORLD ON STEROIDS

Recent events gives one reason to pause and take stock of where we are in our lives.  As world events are moving from devastation in Japan, to fairy-tale in London, to a shoot out at the O.K. Corral in Abbottabad, it seems like the world is on a bi-polar spiral.  These are all powerfully emotional events.  Keeping a grip on our individual stabilities and turning our focus to the importance of appreciating each other may allow us to prolong the togetherness feeling that is being celebrated.  After all, it is the unity that has been generated we should celebrate, not death.  Because it is in unity that we can accomplish the impossible.