NEWS UPDATES
02/02/10
JENNIFER SANCHEZ TEAM LAUNCHES VIDEO LIBRARY ON GOwithShortSale.com- We've expanded our website with some informational videos. Our plans are to greatly expand the video library with relative content from industry experts as well we have plans to start uploading our own produced videos so we are able to offer our prospective clients very targeted and educational information.
[View Video Library]
01/18/10
HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS WASHINGTON - In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes.
[Read More]
01/02/10
Loan Programs May Have Made Thigs Worse- NY Times- masnbc.com. The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good.
[Read More]
10/28/09
WASHINGTON - Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers. The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.
Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.
[Entire Story]
10/17/09
Fannie Mae: More Options to Avoid Foreclosure: If you cannot sell your home for the amount necessary to pay off the mortgage loan, ask about a pre-foreclosure or “short” sale. In certain situations, the servicer may be willing to accept a payoff amount less than what you owe on the mortgage balance.
[Read More]
10/4/09
The Jennifer Sanchez Team releases a new 5 Step Program outlining the Short Sale process for homeowners: The Jennifer Sanchez Team has outlines a 5 Step program to help homeowners understand the necessary steps involved in Short Sales. This was created to ease the common concerns of the complexity of Short Sales but to also emphasize the importance of seeking legal and tax advise before proceeding with a Short Sale.
[View Program]
Posted 10/1/09
Making Home Affordable
Update: Foreclosure Alternatives and Home Price Decline Incentives
[Read More]
Posted 9/25/09
New Housing Crash Looms as Shadow Inventory Climbs past 7 Million
(DSNews)
The New York-based mortgage-bond analysts called that number – which is about five-and-a-half times larger than 2005’s national tally of delinquencies and foreclosures – a “huge shadow inventory” that threatens to further destabilize a housing market that had shown signs of righting itself over the summer.
Despite some recent optimism, many market observers now agree on several factors that are expanding the nation’s shadow inventory. Loan modifications, legal wrangling, redefaults and bank practices have delayed foreclosures while actually worsening many homeowners’ positions.
As a result, the analysts say a so-far undisclosed glut of homes is about to come to light, and it’s likely to further depress values and sales. “There’s going to be a flood [of bank-owned homes] listed for sale at some point,” John Burns, a real-estate consultant based in Irvine, California, told the Wall Street Journal this week. He expects prices to decline another 6 percent this year. The analysts at Amherst predicted an 8 percent drop, while a Sept. 11 report by Barclays forecasted a further 13 percent drop, saying the worst of the crash is “decidedly underway,” with increased foreclosures sapping “the strength of the recovery in all but the most optimistic of scenarios.”
[Entire Story]
Posted 9/24/09
Growing Short Sale Volumes Lead Brokers to Launch Specialist Association
For years, volume REO agents held the keys to most volume brokerages and teams. But now that banks are becoming increasingly cooperative working with short sales, it has created opportunities for brokerage models and volume agents to focus on short sales as a primary business.[Read More]
Posted 9/5/09
Jennifer Sanchez Team On Facebook
The Jennifer Sanchez Team is on Facebook and looking for Fans! Become a Fan and get valuable information on Real Estate in the Phoenix area including REO's, Short Sales, Incentives, Investments and much more! [Become a Fan]
Posted 9/4/09
A WIN FOR AAR (Arizona Association of REALTORS) Reagrding Arizona's Anti-deficiency Law
Governor signs bill that repeals change to anti-deficiency statute Governor Jan Brewer signed HB 2008, which repeals SB 1271 and its change to the anti-deficiency statute. AAR would like to thank our members for their quick response and action on this matter. AAR's success is due, in part, to members like you who help engage on issues down at the Capitol. AAR will continue to work with legislators and industry stakeholders to protect homeowner rights at the Capitol.
