Good Morning, Jeff Watson and Josh Cantwell here with an EMERGENCY UPDATE. In light on information that was released on Friday by Freddie Mac, Jeff put the brakes on his schedule to arrange an URGENT TRAINING WEBINAR tomorrow, TUESDAY, APRIL 20 at 1:00pm EDT.
Click here to register for this important call.
Here’s what’s going on. On Friday, Freddie Mac released a newsletter that has resulted in serious concerns for short sale investors. In the newsletter, they raise the question of the viability and legality of back-to-back short sale flips. I have been receiving a lot of concerns and questions over the weekend about this issue. As a result, we have rearranged our hectic mid-day schedule to do a live Webinar on this topic.
I urge each of you to attend and register for the call here because this will change your short sale business forever.
I am going to address the myths, fears and worries created by Freddie Mac and HAFA in a point-by-point, systematic approach. I am going to arm you with ways that you can calm the fears that this newsletter can create in the minds of distressed homeowners.
There is tons of misinformation out there. There is information that is factually wrong. Horrible assumptions are being made. Their statements in this newsletter (this is not law, just a newsletter) show ignorance of fundamental contractual law and are contradictory to Freddie Mac’s already stated position of short sales and flips.
If this announced change does become the new policy and position of Freddie Mac, it will:
- Drive investors out of the market.
- Result in more foreclosures.
- Result in more REOs.
- Further depress the market.
It is imperative that you attend this Webinar. It is vital to short sale investors to be informed and know how this information impacts your business, and what you can do today to calm worries, fears and myths that result from their announcement. This is important enough that I felt it necessary to rearrange my schedule so that I can talk to you about this, and you need to do everything you can to attend.
Register immediately and I’ll look forward to speaking with you tomorrow, Tuesday April 20 at 1:00pm EDT.
Jeff and Josh
P.S. HAFA has also created a bunch of confusion. Surprise Surprise. Our Government is good at creating confusion. So we will cover that too. We will also give you the HAFA addendum to add to your hardship letters to make sure your files stay out of the HAFA program.
P.P.S. Here are two basic reasons to avoid HAFA.
#1- The government HAFA program requires the homeowner to sign off on a deed-in-lieu in advance which is almost never disclosed.
#2- The HAFA program requires the seller to make payments at about 1/3 of their income during the short sale process which is also almost never disclosed. How many sellers do you know actually have that kind of money? So register now. It’s the most important thing you can do this whole week.
It’s almost comical this HAFA program. We spoke with several loss mitigators last week who had no idea that the HAFA required the deed-in-lieu and payments. They have no idea what they are pushing people into.