Dawn Barrier REALTOR®, 's Blog,LAS VEGAS BLOG

FREDDIE MAC STARTS DOOR-TO-DOOR EFFORT HELPING BORROWERS COMPLETE HOME AFFORDABLE MODIFICATIONS

Titanium Solutions, Inc. to Help Borrowers Complete Modification Applications

 Direct from Freddie Mac..Read the full article

McLean, VA - Freddie Mac (NYSE:FRE) today announced it has hired Titanium Solutions, Inc. to meet with delinquent borrowers at their homes and help them supply missing information, documents and complete other actions needed to begin their three month trial payment periods for Home Affordable Modifications under President Obama's Making Home Affordable program.

Titanium Solutions will target late-paying borrowers with Freddie Mac-owned mortgages who have not returned letters or phone calls sent by their servicers, or who need to provide additional information or documents to launch their three-month Home Affordable Modification trial periods. Titanium will also help those borrowers who have started their Trial periods complete the documentation process to enable them to be converted into final modifications.

"By meeting with our borrowers, one on one, in their homes Titanium Solutions can help them overcome the roadblocks keeping them from starting their Home Affordable Modification trial periods,"said Ingrid Beckles, Senior Vice President Of Default Asset Management at Freddie Mac. "We believe this can give borrowers seeking Home Affordable Modifications the same type of personalized guidance they may have had when they were buying their home or applying for their mortgage."

"Through this initiative, Freddie Mac again demonstrates their commitment to helping homeowners in need. We are pleased to work with them to improve contact with at risk homeowners who are in jeopardy of losing their homes to foreclosure, as well as increasing the number of homeowners who receive and are approved for a modification," said Patrick Carey, Chief Executive Officer at Titanium Solutions, Inc.

Reaching Delinquent Borrowers in their Homes

Titanium Solutions representatives will provide borrowers seeking Home Affordable Modifications with a wide range of support and expertise from reviewing program requirements, to explaining which documents are needed, to securing signatures and walking them through unfamiliar processes.

Las Vegas Sunset on the way home today

Dawn Barrier        Email Dawn 
Century 21 Aadvantage Gold
2 offices to serve your needs (North and South)
Las Vegas, Nv
(702) 812-4550

Las Vegas Short Sale

My Website

 What does the term "Short Sale" mean and why does it take so long to process?

Just a little puppy I encountered today on my calls in Las Vegas---LOL---

at least he was wagging his tail.....ha!

Everyday I encounter a little bit of this and that...

A bit about me

Certified Short Sale Professional

Dawn Barrier        Email Dawn 
Century 21 Aadvantage Gold
2 offices to serve your needs (North and South)
Las Vegas, Nv
(702) 812-4550

Las Vegas Short Sale

My Website

 What does the term "Short Sale" mean and why does it take so long to process?

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 First-time home buyers have just 12 weeks to find and close on a home to qualify for the $8,000 Federal tax credit before the November 30th deadline-Vegas Update - 09/15/09 09:16 AM

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Take Charge: Is Your Credit and Debt Profile Optimized?

WHAT DOES A SELLER NEED TO PROVIDE TO DO A LAS VEGAS SHORT SALE?

WHAT DOES A SELLER NEED TO PROVIDE TO DO A LAS VEGAS SHORT SALE?

This is just a basic starter list.  Your lender may require you to provide more or less documents, but these are what you need to be prepared to provide to so that your short sale will go more smoothly.

DOCS NEEDED For Short Sale

•1.       Authorization form to lender

•2.       Hardship letter

•3.       Mortgage Statement

•4.       Financial Worksheet  

•5.       2 months paystubs

•6.       2 months bank statements

•7.       2 years tax returns

If you don't have 5,6, or 7, you will need to provide a letter explaining a valid reason why you don't have them to present to the bank and it could hinder the short sale process.

Keep checking my blog for more short sale information and you can email or give me a call with other questions you may have. 

A bit about me

Certified Short Sale Professional

Dawn Barrier        Email Dawn 
Century 21 Aadvantage Gold
2 offices to serve your needs (North and South)
Las Vegas, Nv
(702) 812-4550

Las Vegas Short Sale

My Website

 What does the term "Short Sale" mean and why does it take so long to process?

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Will the 1st Time Home Buyers Tax Credit Get Extended? Builders hope so......

Single-Family Starts Ease as Credit Deadline Looms

Read more: http://rismedia.com/2009-09-21/single-family-starts-ease-as-credit-deadline-looms/#ixzz0RrkMS7NY

RISMEDIA, September 22, 2009-Production of new single-family homes slowed in August 2009 as the expiration date for an important buyer incentive drew nearer, according to figures recently released by the U.S. Commerce Department. While overall housing starts rose 1.5% to a seasonally adjusted annual rate of 598,000 units for the month, single-family starts declined 3% to a rate of 479,000 units, ending what had been a five-month run of improvements. 

"With the $8,000 first-time home buyer tax credit set to expire at the end of November, the window is now basically closed for being able to start a new home that can be completed in time for purchasers to take advantage of that," said Joe Robson, Chairman of the National Association of Home Builders (NAHB) and a home builder from Tulsa, Okla. "Builders are therefore pulling back on new construction at this time. Clearly Congress must act now to extend the tax credit if we are to keep the market moving toward a recovery." 

"The tax credit has been helping buoy demand for new homes since its passage in February, but builders are concerned about what happens after it is gone," said NAHB Chief Economist David Crowe. "On top of the credit's impending expiration, builders continue to grapple with a severe lack of credit for housing production loans and inappropriately low appraisals that are tied to the use of distressed properties as comps - both of which blunted the tax credit's positive effect. Together, these three challenges threaten to completely stifle the upward momentum we've seen in the first half of 2009." 

Read more: http://rismedia.com/2009-09-21/single-family-starts-ease-as-credit-deadline-looms/#ixzz0RrkMS7NY

Will the 1st Time Home Buyers Tax Credit Get Extended? Harry Reid & John Ensign Support it...

Senate bill (S. 1678) recently introduced that would create a six-month extension of the $8,000 federal tax credit for first-time homebuyers and move the current expiration date forward to June 1, 2010. 

Read more: http://rismedia.com/2009-09-20/realogy-supports-new-bi-partisan-senate-bill-to-extend-first-time-homebuyer-tax-credit-for-6-months/#ixzz0Rl8ckpIn

We are all wanting to get an answer...but we will just have to wait and see.

The bill was introduced by U.S. Senator Benjamin L. Cardin (D-MD), along with Senators John Ensign (R-NV), Harry Reid (D-NV), Johnny Isakson (R-GA) and Debbie Stabenow (D-MI). The current tax credit provision for first-time homebuyers, passed as part of the American Recovery and Reinvestment Act, expires December 1, 2009. According to the most recent data from the Department of the Treasury, nearly 530,000 Americans have applied for the tax cut to help them purchase their first home. About 40% of all homebuyers this year will be eligible for the tax credit. 

Read more: http://rismedia.com/2009-09-20/realogy-supports-new-bi-partisan-senate-bill-to-extend-first-time-homebuyer-tax-credit-for-6-months/#ixzz0Rl8oyDGq

LAS VEGAS HOMES ON MARKET REPORT- HOMES INVENTORY DROPS TO BELOW 9,000 September 20, 2009

Stats are on Resale Single Family homes only per the GLVAR MLS as of this evening.

Covers the Las Vegas Valley, North Las Vegas, Henderson area.

A bit about me

Certified Short Sale Professional

Dawn Barrier        Email Dawn 
Century 21 Aadvantage Gold
2 offices to serve your needs (North and South)
Las Vegas, Nv
(702) 812-4550

Las Vegas Short Sale

My Website

 What does the term "Short Sale" mean and why does it take so long to process?

 Facebook

 First-time home buyers have just 12 weeks to find and close on a home to qualify for the $8,000 Federal tax credit before the November 30th deadline-Vegas Update - 09/15/09 09:16 AM

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Take Charge: Is Your Credit and Debt Profile Optimized? -

Article from RISMEDIA...read the full story

RISMEDIA, September 15, 2009-First-time home buyers have just 12 weeks to find and close on a home to qualify for the $8,000 Federal tax credit before the November 30th deadline. Those just beginning the process will have to beat the average time it takes to buy a home, a challenge smart buyers can meet even though it's taking longer today to close most transactions. 

Two significant challenges first-time buyers face today include the potential for a lengthy process related to search and closing if not managed carefully at every step, and intensified competition. On average, first-time buyers search 12 weeks to find a home, while closing can take up to 60 days, depending on individual circumstances and local regulations. Additionally, the tax credit has proved to be extremely popular this year, since taking advantage of the first-time homebuyer's Federal tax credit and relevant state incentives is the most important reason motivating 10.8% of buyers today.

Realtor.com President Errol Samuelson explains, "The national median home today costs approximately 174,100. By moving quickly to find and close on a home by November 30, first-time buyers qualifying for the $8,000 tax credit can actually purchase this same home for only $166,100, an almost four and a half percent discount off of the price of a typical new home. Because affordability this year is at its highest level in 28 years, and the market offers an incredible selection of homes within reach of most first-time buyers, we expect their numbers to grow as they pursue today's once in a generation opportunity to become homeowners." 

HERE IN VEGAS:  The tax credit has helped move home inventory here in Las Vegas as well as lenders keeping foreclosures off the market,,,,maybe temporary though. 

It also has created a problem for many first time homebuyers as they are getting out bid on homes they would like to purchase and since most first time homebuyers can only afford a certain amount, it is harder to win that bid.  Even builder inventory has dwindled down. 

This all maybe temporary as there are a lot of homes due to come on the market, it is just a matter of when, and if they wait too long to put them on the market, we may not have the tax credit so many buyers won't buy at that point.  Many bills are trying to get passed to extend the tax credit, so it will be interesting to see what happens over the next 12 weeks.

Mountains Edge Home Wanted - Sellers give me a call if you think your home would meet my buyers needs...

I have a First Time Home Buyer who is looking for a nice home in Mountains Edge area. 

The home must be able to close in time for the Tax Credit (deadline Nov 30th). 

The home max price is $155,000.  3 bedrooms and 2 bath minimum. 

Home Must be able to qualify for FHA financing.

A bit about me

Certified Short Sale Professional

Dawn Barrier        Email Dawn 
Century 21 Aadvantage Gold
2 offices to serve your needs (North and South)
Las Vegas, Nv
(702) 812-4550

Las Vegas Short Sale

My Website

CLICK this link for the whole article  from the US Dept of Labor
 

Here is just a bit of the article:
 
Labor Day: How it Came About; What it Means
 

Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers.

It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country.

The First Labor Day
 

The first Labor Day holiday was celebrated on Tuesday, September 5, 1882, in New York City, in accordance with the plans of the Central Labor Union. The Central Labor Union held its second Labor Day holiday just a year later, on September 5, 1883.

In 1884 the first Monday in September was selected as the holiday, as originally proposed, and the Central Labor Union urged similar organizations in other cities to follow the example of New York and celebrate a "workingmen's holiday" on that date. The idea spread with the growth of labor organizations, and in 1885 Labor Day was celebrated in many industrial centers of the country.

A Nationwide Holiday

The form that the observance and celebration of Labor Day should take were outlined in the first proposal of the holiday - a street parade to exhibit to the public "the strength and esprit de corps of the trade and labor organizations" of the community, followed by a festival for the recreation and amusement of the workers and their families.

Have a Happy Labor Day!

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Here is a great article direct from RISMEDIA...by Jeff Mandel and Marlin Brandt...Read more: TAKE CHARGE OF YOUR CREDIT

Here are some simple first steps to consider in liability management: 

STEP 1: Understand How Credit Works-Now is not the time to be content with understanding 80% of what you need to know about your credit or saying, "I'll get to it tomorrow because I don't have time today." Ninety-four percent of consumers are challenged with understanding the basics of how personal credit works to assure they have the best credit and debt profile possible.

STEP 2: Continually Evaluate and Monitor the Health of Your Current Credit Profile-The second step is to evaluate your current credit and debt profile and establish a plan based on your short- and long-term credit needs. Continually monitoring your credit report and profile is no different or less important today than getting a physical exam by your doctor. 

STEP 3: Optimize Your Credit-Each of your debts should be periodically reviewed and analyzed. Are there options you can take to improve your overall credit profile so that you're more desirable to creditors for their "preferred" interest rates? Should you consolidate some of your debt? Once you strengthen your credit and debt profile, do you have options on your home, auto and credit cards to negotiate lower interest rates and terms that would save you money monthly? 

STEP 4: Rethink New Purchases-Excellent credit is like an insurance policy. When you need to use it you want to help ensure you qualify for the preferred interest rates and terms that will give you the best payment options based on your needs and capabilities.

Don't let anyone mislead you. It takes time, knowledge and planning to assure you build, optimize and manage your personal credit and debt profile so that you can help maintain the affordability of what you have and/or create a better opportunity to qualify for preferred interest rates and terms on purchases requiring additional credit. Jeff Mandel is president and Marlin Brandt is COO of ApprovalGUARD. 

Read the full articla: http://rismedia.com/2009-09-03/take-charge-is-your-credit-and-debt-profile-optimized/#ixzz0Q9gT7Hcy

LasVegasDawn.com

I heard this the other day...

COLD CALLS:   Life is full of cold calls and you make cold calls for the rest of your life...

Quote from the CEO of Time
 


www.LasVegasDawn.com

A bit about me

Certified Short Sale Professional

Dawn Barrier        Email Dawn 
Century 21 Aadvantage Gold
2 offices to serve your needs (North and South)
Las Vegas, Nv
(702) 812-4550

My Website

My Blog