Debra Green, your Real Estate Professional

Broker Associate, CDPE
760-828-8181

Debra Green Team for your Real Estate needs!

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My Blog

Mortgage Modification Scams Rampant in 2011

Posted: 19 Jan 2012 11:53 AM PST

Mortgage modification scams made the list of the Better Business Bureau’s Top Scams of 2011, with more than 20,000 complaints. Sadly, there are countless organizations out there preying on desperate homeowners.

That’s why trained, qualified real estate agents are needed now more than ever. The nationwide network of more than 35,000 CDPE-designated agents has helped hundreds of thousands of homeowners find a dignified solution in difficult times.

But distressed homeowners aren’t the only ones being targeted. Unfortunately, even well intentioned agents have been caught up in increasingly sophisticated mortgage fraud scams.

Please contact Debra Green, CDPE, at 760-828-8181 for any questions or a free consultation for a homeowners in distress to discuss solutions! www.NoCtySDshortsalesolutions.com

Fannie Follows Freddie’s Lead in Extending Forbearance Period for Unemployed

Posted: 17 Jan 2012 08:20 AM PST

Fannie Mae revealed its new Unemployment Forbearance Program , which mortgage servicers are required to implement by March 1 for all Fannie Mae-owned and backed loans.

Servicers can now provide up to six months of relief for eligible unemployed borrowers without Fannie’s review and approval. Borrowers may also apply for an additional six months of forbearance, for a total of 12 months.

Fannie’s announcement follows a similar move by Freddie Mac .

To find out if your loan is backed by either GSE, use the “Fannie Mae Loan Lookup” or “Freddie Mac Loan Lookup” tools on the Useful Links section of our website.

Federal Reserve Recommends Short Sales Among Solutions to Housing CrisisPosted: 06 Jan 2012 12:13 PM PST

On Jan. 4, Federal Reserve Chairman Ben Bernanke sent a letter and white paper to Congress outlining his insights and recommendations on restoring the health of the U.S. housing market.

Among the key findings on current market conditions:

The white paper suggests that no single solution exists and that progress will come through “persistent and careful efforts to address a range of difficult and interdependent issues”—a position we have always stressed.

Among these efforts, the paper strongly recommends incentives for alternatives to foreclosure, namely a short sale or deed-in-lieu.

The white paper also emphasizes a fact we are all too aware of: foreclosures drive down property values in the surrounding area and lead to a “ripple-effect” that harms homeowners, lenders and taxpayers alike.

Watch my Video Blog Post to hear more insights on the Federal Reserve’s recommendations.

It’s time to take another look at short sales

As recently as a few months ago, if you would have told a real estate agent who specialized in short sales that they’d be raving about a lender’s stellar service and rapid approval times—not to mention significant cash incentives for financially strapped homeowners for pursuing a short sale—you’d have gotten some strange looks.
That’s all changed. And it’s changed faster and to a greater extent than most real estate professionals ever could have imagined.
With a glut of bank-owned properties dragging down the recovery of the real estate market, as well as the national economy, major lenders are more eager than ever before to avoid foreclosure. So they’ve sharpened their focus on short sales. Big time.
The biggest lenders in the country have staffed up to ensure rapid processing of short sale applications. They’ve ponied up with cash incentives at closing for homeowners who pursue a short sale. And they’re proactively reaching out to CDPE agents and putting them in touch with delinquent borrowers.
This is big news and the media has not really caught onto it yet. What’s important for you to know is that whatever you’ve read or heard in the past about long lag times and frustrations with short sales is probably no longer the case.
As a member of the CDPEAdvanced community, I’m tapped into major lenders and on top of major developments affecting short sales and bank-owned properties. I invite you to visit my website www.SDshortsaleoptions.com to learn more and feel free to contact me any time at 760-828-8181 or DebraGreenHomes@cox.net if you or anyone you know is struggling with an unmanageable mortgage.

Handling the Stress of an Unaffordable Mortgage Payment

Whenever I research the latest foreclosure and distressed property statistics, the sheer number of Americans facing the stress of losing their homes amazes me. It is my goal to help as many homeowners I can either stay in their homes or relieve the burden of their mortgages. Knowing that there are so many that need my help is a driving force for me to continue doing what I do.
In fact, I just released another report that I’ve made available on my website today. It explains the CDPE designation and lists 10 options that homeowners can take advantage of to relieve the stress that comes with owing their mortgage lenders more money than they can afford to pay.
The report also draws a contrast between short sales and foreclosures. Unfortunately, there’s a growing trend of “strategic defaulters” who think it’s smart to let their home go into foreclosure. As any one who follows this blog knows, there is nothing strategic about foreclosure; it’s one of the most long-lasting, negative financial challenges you can go through.
I’m excited about acting as a resource for more homeowners who have questions about what they should do. As always, if you know homeowners who may need my help, have them contact me immediately! Together, we can put them back on the path to financial stability.

http://sdshortsaleoptions.com/blog.aspx

August 2011.