Tag Archive for "bank" | Kevin and Fred

Stop Taking Sides! Grind it Out!

Posted on December 10, 2010 by Kevin Kauffman and Fred Weaver in Best Of, Forgetable Friday, Power Hour, Techniques | 5 comments

Kevin and Fred talk about how some realtors make the mistake of just focusing on one lender. So, stop taking sides....

Fannie Mae Changing Guidelines For Strategic Defaulters

Posted on June 30, 2010 by Kevin Kauffman and Fred Weaver in Power Hour, Techniques | 3 comments

Kevin and Fred talk about strategic defaulting and touch on the ethics of it… Also, as promised… Here are some of the Fannie Mae info: This is for conventional loans. Currently the waiting period for purchasing a home after a foreclosure is 5 years. As of October 1st 2010 the waiting period will be extended to 7 years. Summary of Waiting Period Requirements

Bankruptcy Chapter 7 or 11 = 4 years
Bankruptcy Chapter 13 = 2 years from discharge date
Multiple Bankruptcy Filings = 5years if more than one filing in the last 7 years.

The Requirements for Deed in Lieu of Foreclosure, Preforeclosure Sale, Short Sale are dependant on the loan to value amount:

with a maximum loan to value of 80% after 2 years.
a maximum loan to value of 90% after 4 years and
is back to “normal” after 7 years.

Here's a link to Fannie Mae's official press release...

Banks Counter No Matter What – Too Close to the Vest Means Less Money

Posted on June 2, 2010 by Kevin Kauffman and Fred Weaver in Power Hour, Techniques | 6 comments

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Kevin and Fred are fed up with banks trying to get more money even when the bank and buyer agree on the how much the house is worth.

Why fight when we all agree?

Mr. Negotiator – Keeping your cards so close to the vest causes you to loose more money, not collect more. Fair market value, is fair market value.

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Tag Archives: bank