Hottest topics in Real Estate today with George Chamberlin on KOGO

Please join Lotus Realty Group and" SPECIAL GUEST" number one Real Estate Attorney in San Diego "David Bright" on 95.7 FM and AM 600" MONEY MATTERS" with George Chamberlin Sunday August 26, 2012 at 10:30am.

George and David will be discussing the market, legal issues with short sales today and the new FANNIE MAE AND FREDDIE MAC improvements to allow homeowners to short sale their property in a more effective and efficient manner. Tune in and get the latest updated information in real estate today from the top professionals in the industry.


Call us today and let us show you a system that works to help you expand your business and effectively and efficiently close short sale transactions.

Cultural Shift by Cari Drolet, Founder of Lotus Realty Group

http://www.visionmagazine.com/archives/1206/1206_viewpoint_worms_waking.html

Sleep my little baby-oh
Sleep until you waken
When you wake you'll see the world
If I'm not mistaken...

Kiss a lover
Dance a measure,
Find your name
And buried treasure...

Face your life
Its pain,
Its pleasure,
Leave no path untaken.”
― Neil Gaiman, The Graveyard Book

Fannie Mae and Freddie Mac Updated Short Sale Guidelines

(Quote) Education is the most powerful weapon you can use to change the world.

"Nelson Mandela "

There have been several changes over the last 6 months with short sale guidelines. It has always been important for me to make sure you are all up to speed with the most current information so you will be able to ask the right questions and set proper expectations with your buyers and sellers. Staying on top of these changes will only allow you to better explain to your potential clients what to expect moving forward. In addition to being well versed in short sales and charming your clients with your knowledge; you will bring some much needed peace of mind back into their lives. It is no secret that losing your home is no picnic and this is a very stressful time for them. Be your clients glimmer of hope for a knew beginning, a new chapter. One homeowner at a time, we can make a difference.

Below are the most recent changes with the government backed loans and Bank Of Americas Cooperative short sale program:

Loans owned by Fannie Mae and Freddie Mac will take longer than a regular short sale. The investor has to sign off on the value and their review process takes 45-60 days to complete. In addition; Fannie Mae and Freddie Mac first liens will only give 10% up to $6000 to second lien holders and no other parties can contribute to the second lien payoff.

A great way to be able to set expectations with your clients is to ask them if their loan is owned by Fannie or Freddie. ( See seller interview questions) If they are not sure they can go to the government sites and get that information by entering the property address.

EXTRA TIP OF THE DAY

Bank of Americas Cooperative short sale program that offers incentives for homeowners to short sale their property has stated ; if the second lien has Mortgage Insurance, the homeowner will NOT qualify.


For more information please contact Cari Drolet, Lotus Realty Group at 858-764-7300 or by email cari@lotusrealtygroup.com

Call us today and let us show you a system that works to help you expand your business and effectively and efficiently close short sale transactions.


LOTUS REALTY GROUP
PROFESSIONAL SHORT SALE NEGOTIATORS


At Lotus Realty GROUP, helping people ethically succeed is at the forefront of who we are...