Posts Tagged ‘HAMP’

New results with better number for the bail out program.  But, the admittance of a delayed conversion and trial being extended has me wondering.  That is good news….if this is truly the answer and the reason of the HAMP program.  So I am not trying to be a critic, but and my observation is that looking like a way to string along (a good percentage mind you) the inevitable…. fail loan mod’s and people out of there home.  In some ways (being the critic) it would appear that the BIG BANKS would have their numbers and plan on them for this benefit.  Of course the other benefit is to see them succeed, but somewhere in the middle therein lies the truth.

My specific solution would be to become clear on if this is really a benefit for each homeowner based on the own financial future.  I know leaving a home and the security has a lot of weight, but the challenge is if it is a misled solution in the first place?  Know your numbers and plan for the future. The banks are requesting it, and we as homeowner’s should expect it.

I have a good math class to share if you want to use it or share it.  Please email me for more details.  Mikeo@lmsgnow.com

http://www.dsnews.com/articles/treasury-report-shows-230000-homeowners-in-permanent-hamp-mods-2010-04-14

Please feel free to leave your comments below!

Keep it short,

Mike Knows

So here is where I CHALLENGE all of you whom raise their nose in the air, or let out a “but they are so difficult to deal with” to read this.  STOP THE CHATTER in your head for 2 minutes.  Ok, that was better then getting a hysterical slap off the cheek or cold water poured on you when you are having a nightmare (ask my buddy Gino about that one LOL)!

The article that I am sharing is simply the January 2010 statistics on the type of sales in our real estate world.  I am one to recoginze change after I have fought it and usually been effected by not adapting to it, but I am also one that once I catch on….LOOK OUT.    So this article basically states the obvious with what is out there in the market.  In my own experience it has been in the Massachusetts market for the last 3 years.  I personally have been effected and in it for the last 2 1/2 years.  So, basically the reason for my bantering is because there are many RE Professionals (you know who you are) that still do not want to recognize that there is a viable opportunity in this market (namely short sales), but you refuse to listen and act on what I have for you.  What you say?  You already know?  Hmmm not sure we’ve met or even done business together.  Anyway, I have built a full service RE business that is working this market in short sales and other stuff.  I have even created training and trained many to work with me…..and benefit.  I would cal this a shameless plug if I were selling something but I am not….it’s FREE.  I just need willing, able, and focused individuals to make it work.  Want to know more.  See my free report on my blog or email me at Mikeo@LMSGnow,com

http://www.dsnews.com/articles/distressed-sales-take-larger-share-of-market-first-american-2010-04-08

Keep it short,

Mike Knows

…What …..more government programs!!!????  I had to add my Bostonian sarcasm to this.  And as we (the collective masses with problem property “issues”) come into another attempt to get HELP with this mess.  We are now faced with HAFA..the new Short Sale program.  THE GREAT thing is we still are working short sales and we are not needing HAFA to get them approved for homeowners!

Email me at Mikeo@lmsgnow.com for the summary.

Essentially we have another attempt to handle this issue and make it efficient for the lender.  However, there is more to identify for the pro’s and con’s of this program largely because of the HAMP (loan modification program) that has done so miserably.  Nonetheless we see this as a “works in progress” and we will have a full line of both sides.  If the results are anything like the HAMP then we will have certainly looked at CHUMP and HUMP as alternatives.  Stay tuned as we unravel this.

Keep it short,

Mike Knows

Mikeo@lmsgnow.com

Now this topic / subject is very literal in the Massachusetts housing market.  We have reached historic levels (no pun intended) for total inches of rain.  Even as I write this, we have an additional 4 more inches TODAY!  The reports of homes flooded and under water is ridiculous…

Which brings me to a relative topic.  The under water homes because of value declines and inventory that is flooding the market (because of the foreclosures).  What is important to note is that I just read an article that forecasts when the Boston real estate values would land on dry land.  They are forecasting 2017!!!  This is a very important discussion that should be reviewed by someone whom may be trying to keep their home afloat.  I am specifically addressing those whom are behind on payments and may be trying or have tried some type of program HAMP, CHUMP (j/k)  or some other “save my home” program” that may be out there.  These homeowners may be considering trying to stem an evil tide of debt while really they should just BAIL!  Bail out!?  BAIL THIS!  To each person and decision is based on knowledge and weighing out their options.  But, before they lose it completely they should consider the forecast…..and more importantly starting fresh without going down with the ship.  Again, this is just my experience and perspective, and a choice I had to make (with no regrets) in the same storm.  For more information check out www.Help-ME-ShortSales.com

More on the article: http://www.dsnews.com/articles/how-long-will-negative-equity-last-2010-03-29

Keep it short,

Mike Knows

Hey sports fans!  Sorry for the delay in with the updates.  I literally shut it down for the holidays.  I have to to tell you it was tough….I got so wrapped up in business that I was losing focus of what working really means.  The good Lord stepped in and made an adjustment with my priorities.  Him first, My family next, and everything else…well you know.

I hope all of you got to do the same with your time off.  I am refreshed and ready to go.  I feel new (kinda sorta).  I know this, that I am filled with passion to give and give abundantly.  I know we have so much to do in this market and the latest news only supports that WE have our work cut out for us.  There are new stats showing that we are in for the worst of times with the foreclosures.  Not only with the 5 year ARM recast, but the unemployment rate still in the 10’s, the seasonal slow down with sales, and the ridiculous attempts by the government to help delay the correction with HAMP (better known as CHUMP).  Anyway, do not delay and start today making a New You to change you and others lives during this troubling time.  Short Sales are in!

For more disgusting news…please read!

http://www.dsnews.com/articles/delinquencies-foreclosures-at-record-highs-with-shadow-inventories-looming-lps-report-2009-11-10

Keep it short,

Mike