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READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Improvements to Short Sale Program Coming
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Improvements to Short Sale Program Coming
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Improvements to Short Sale Program Coming

mortgage-shortsale-imageApril 18, 2011 (Jeff Alan)

The Treasury Department has announced updates to the policy guidelines for the Home Affordable Foreclosure Alternatives (HAFA) program which has been followed by legislation introduced in Congress by U.S. Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.) to improve the process for approving short sales in the HAFA program.

The new guidelines being implemented by the Treasury Department requires mortgage servicers to send a written confirmation to a borrower acknowledging their request for a short sale or a deed-in-lieu whether the request was initiated by the borrower or the mortgage servicer.

The mortgage servicer then has 10 business days following receipt of the request to include a description of the mortgage servicers evaluation process and a timeline for their decision on whether their request is acceptable or not.

The second part of the guideline is that the mortgage servicer must provide the borrower with a written approval, denial or alternative offer within 45 calendar days of receiving a completed request form and any other required paperwork, and if unable to do so, must provide the borrower with a written notice before the 45th day and updates every 15 days until a decision is made.

Additionally, the Treasury Department will now give mortgage servicers the ability to approve short sales to non-profit organizations for the purpose of renting and reselling the property back to the borrower, previously not allowed under the HAFA program.

Meanwhile, in the House of Representatives, Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.) introduced the bipartisan “Prompt Decision for Qualification for Short Sale Act of 2011,” which similarly calls for a 45 day deadline for lenders to respond to short sale requests.

The legislation is strongly supported by the National Association of Realtors (NAR).

“The current short sale process can be time-consuming and inefficient, and many would-be buyers end up walking away from a sale that could have saved a home owner from foreclosure,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I.

According to NAR’s data, about 13 percent of recent home sales nationwide have been short sales. The latest Treasury Department data through the end of February shows 4,488 homeowners had completed a short sale or deed-in-lieu through HAFA while another 10,177 homeowners have agreements in place with their mortgage servicers to participate in the HAFA program.

The new HAFA guidelines announced by the Treasury Department take effect on June 1, 2001, but mortgage servicers are being encouraged to follow the guidelines now.

Tags: Treasury Department, HAGA, guidelines, NAR, mortgage servicers, short sales, deed-in-lieu

Sources:
National Association of Realtors
DSNews.com
houstonrealestateoberserver (image)

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

mortgage-shortsale-imageApril 18, 2011 (Jeff Alan)

The Treasury Department has announced updates to the policy guidelines for the Home Affordable Foreclosure Alternatives (HAFA) program which has been followed by legislation introduced in Congress by U.S. Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.) to improve the process for approving short sales in the HAFA program.

The new guidelines being implemented by the Treasury Department requires mortgage servicers to send a written confirmation to a borrower acknowledging their request for a short sale or a deed-in-lieu whether the request was initiated by the borrower or the mortgage servicer.

The mortgage servicer then has 10 business days following receipt of the request to include a description of the mortgage servicers evaluation process and a timeline for their decision on whether their request is acceptable or not.

The second part of the guideline is that the mortgage servicer must provide the borrower with a written approval, denial or alternative offer within 45 calendar days of receiving a completed request form and any other required paperwork, and if unable to do so, must provide the borrower with a written notice before the 45th day and updates every 15 days until a decision is made.

Additionally, the Treasury Department will now give mortgage servicers the ability to approve short sales to non-profit organizations for the purpose of renting and reselling the property back to the borrower, previously not allowed under the HAFA program.

Meanwhile, in the House of Representatives, Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.) introduced the bipartisan “Prompt Decision for Qualification for Short Sale Act of 2011,” which similarly calls for a 45 day deadline for lenders to respond to short sale requests.

The legislation is strongly supported by the National Association of Realtors (NAR).

“The current short sale process can be time-consuming and inefficient, and many would-be buyers end up walking away from a sale that could have saved a home owner from foreclosure,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I.

According to NAR’s data, about 13 percent of recent home sales nationwide have been short sales. The latest Treasury Department data through the end of February shows 4,488 homeowners had completed a short sale or deed-in-lieu through HAFA while another 10,177 homeowners have agreements in place with their mortgage servicers to participate in the HAFA program.

The new HAFA guidelines announced by the Treasury Department take effect on June 1, 2001, but mortgage servicers are being encouraged to follow the guidelines now.

Tags: Treasury Department, HAGA, guidelines, NAR, mortgage servicers, short sales, deed-in-lieu

Sources:
National Association of Realtors
DSNews.com
houstonrealestateoberserver (image)

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

mortgage-shortsale-imageApril 18, 2011 (Jeff Alan)

The Treasury Department has announced updates to the policy guidelines for the Home Affordable Foreclosure Alternatives (HAFA) program which has been followed by legislation introduced in Congress by U.S. Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.) to improve the process for approving short sales in the HAFA program.

The new guidelines being implemented by the Treasury Department requires mortgage servicers to send a written confirmation to a borrower acknowledging their request for a short sale or a deed-in-lieu whether the request was initiated by the borrower or the mortgage servicer.

The mortgage servicer then has 10 business days following receipt of the request to include a description of the mortgage servicers evaluation process and a timeline for their decision on whether their request is acceptable or not.

The second part of the guideline is that the mortgage servicer must provide the borrower with a written approval, denial or alternative offer within 45 calendar days of receiving a completed request form and any other required paperwork, and if unable to do so, must provide the borrower with a written notice before the 45th day and updates every 15 days until a decision is made.

Additionally, the Treasury Department will now give mortgage servicers the ability to approve short sales to non-profit organizations for the purpose of renting and reselling the property back to the borrower, previously not allowed under the HAFA program.

Meanwhile, in the House of Representatives, Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.) introduced the bipartisan “Prompt Decision for Qualification for Short Sale Act of 2011,” which similarly calls for a 45 day deadline for lenders to respond to short sale requests.

The legislation is strongly supported by the National Association of Realtors (NAR).

“The current short sale process can be time-consuming and inefficient, and many would-be buyers end up walking away from a sale that could have saved a home owner from foreclosure,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I.

According to NAR’s data, about 13 percent of recent home sales nationwide have been short sales. The latest Treasury Department data through the end of February shows 4,488 homeowners had completed a short sale or deed-in-lieu through HAFA while another 10,177 homeowners have agreements in place with their mortgage servicers to participate in the HAFA program.

The new HAFA guidelines announced by the Treasury Department take effect on June 1, 2001, but mortgage servicers are being encouraged to follow the guidelines now.

Tags: Treasury Department, HAGA, guidelines, NAR, mortgage servicers, short sales, deed-in-lieu

Sources:
National Association of Realtors
DSNews.com
houstonrealestateoberserver (image)

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS