For the past 4-5 years Arizona, as well as Florida, Nevada & California, has been in the news as some of the hardest hit states for Real Estate. Prices have fallen about 40% in these markets since 2007. With a glut of homes and short sales & foreclosures dominating all sales, the market was by [...]
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17235 N. 75th Ave C190,
Glendale, AZ 85308
Phone: 602-329-7782
About Elise Fay
Location
17235 N. 75th Ave C190,
Glendale, AZ 85308
Phone: 602-329-7782
Posts
Is the New Gov’t Short Sale Program Working?
Only time will tell..well the first part of the Making Home Affordable Short Sale Program was rolled out in April 2010. The HAFA program was initially thought to streamline the Short Sale Process while offering some substantial benefits to the homeowners, namely waiving the deficiency obligation to the homeowners. That benefit will eliminate most of [...]
Loan Mods & Short Sale Approvals
Well it has been about 2 1/2 weeks since I wrote my last post “Loan Modifications: Are they spinning out of Control?” and since then this file has moved along at break neck speed. I really thought this was going to be one of those nightmare stories but…we just got an approval today! It goes [...]
Loan Modifications. Are they Spinning out of Control?
A HAMP Loan modification is denied to a homeowner who then decided that a Short Sale is the only alternative. A full Short Sale package is submitted only to discover that the file is Spinning it’s Wheels in Neutral, in the Loan Mod department and the bank cannot get it into gear and moved on to the Short Sale Department.
AZ Short Sales-Statistically Speaking
AZ Short sales are here to stay. As homeowners understand their options in today’s difficult climate, more and more families are opting for short sales over going into foreclosure. With 3/1 ARMS and 5/1 ARMS coming due, many homeowners will be faced with increased mortgage payments as their interest rates adjust. This will cause many [...]
Loan Modifications and the California Bill
Interesting article. Always important to read these bills all the way through. I have read most of the bill and I do think this bill has many merits. The first being it prevents all of those “loan modification sharks” from preying on homeowners. Secondly, if you read all the way down past the 1st paragraph [...]
Short Sales & HELOCS
I have been doing Glendale AZ Short Sales for quite some time and I am now just encountering sellers who have HELOC’s. Question: If their HELOC was used exclusively to make improvements on their primary residence and the seller can show receipts, will they still be liable for the full amount? Has anyone had a [...]
Are Loan Modifications Frustrating You?
As a Short Sale specialist in Arizona I hear from so many people who are behind on their payments. They truly do not want to lose their homes and are spending alot of time trying to work with the lender to modify their existing loans. Because values in Glendale Arizona over the past 2 years have [...]
HSBC & Short Sales
Has anyone had any experience with HSBC and short sale negotiations? I just took a listing and HSBC is the only lien holder. What is their time frame for negotiations? Will they push back the foreclosure date if they are working with an offer? Any feedback would be appreciated. Thank you Elise Fay Elise@EliseFay.com www.HomesByElise.com [...]
New Statistics for Arizona-Short Sales
For those of you who own properties in Arizona or have clients who own properties, there was just a new article posted today. Approximately 42% of homeowners in Arizona are upside down on their mortgage. That is an amzaing statistic given that President Obama implemented the Homeowner Affordability Program. But wait…it gets better. Do you [...]
Short Sales & Your 401K
Hi, I am looking for some guidance. At each stage of negotiations with Wells Fargo, we keep meeting their demands and then I am told that we will get an approval. Well, we are at what I think is the final stage and now the investor wants to see the sellers 401k statements. That does [...]
Ocwen and Short Sales
Hello Friends I am frustrated and I need your help. I have been working with Ocwen on a short sale. They messed up on a few items with another offer that I had in with them and now I have another offer that I have submitted and was promised an approval in 48 hours. The [...]
A Plea to all Buyers and Buyer's Agents in the Phoenix Area.
Short Sales in Glendale AZ and the surrounding communities of Phoenix, Surprise, Peoria and the West Valley: This is a plea to all buyer’s agents and buyers thinking of submitting an offer on a Short Sale Property. Please educate yourselves about the process. I encourage you to interview the listing agent on the short sale [...]
AZ Short Sales & Promissory Notes
COUNTRYWIDE AND PROM. NOTES ARGH!! I just finished about a 2 week long battle with Countrywide. They wanted the Seller to sign a promissory note to approve the short sale. This is of course after 3 months of getting to this point. After going back and forth with them and begging and pleading my client’s [...]
Loan Modifications
Loan “Mods”….short for Loan Modification. This is a really hot topic now. It seems everywhere you go there is someone who claims that they can modify your loan for you – i.e., negotiate w/your lender to lower your payments either through extending the term of the loan, lowering the interest rate, and/or reducing the principal [...]
How To Search For A Qualified Arizona Short Sale Specialist
Short sales are a lot of work for the Realtor AND the homeowner and so worth the effort. The giant ship called the “Lenders” are finally getting their respective acts together and are (for the most part) cooperating with the homeowners and their Realtors to process the “Short Sale”. Short Sales are an agreement that [...]
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Rob@Jupiter Real Estate: In Florida we have many condos located on oceanfro...
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Larry: It should almost be a necessity to have a swimming...
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New Media 4 Agents: I think we are past the stage of wondering if it w...
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Jim Wagoner: Good information we all should try to live by....
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Mike Pannell: Tony, i tried to sign my Wife up on your property ...
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$10000 California First Time Home Buyer and New Home Tax Credit Extended
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Unite Against the Sarasota MLS Board
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Short Sale Heaven Coming April 5th 2010
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The Lones Group – Real Estate Social Media Marketing Firm – Sues Agent For Being A Zebra
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California Senate Bill 94 (SB94): Passes; Not even Attorneys can do it!
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