Aundrea Beach-Greco Mortgage Blog Treasury Drops Short Sale Requirements for HAFA January 12th, 2011 3:02 PM 1.5.11 CNBC article A recent report from the folks who oversee the TARP (the Congressional Oversight Panel) said that the Treasury has spent just $4.3 million on The Home Affordable Foreclosure Alternative program (HAFA) for 661 short sales. So Treasury, last week, decided to change the rules a bit: HAFA no longer requires that servicers verify the borrowers finances HAFA no longer requires servicers to determine if the borrowers monthly payment is higher than a 31 percent debt-to-income ratio. HAFA no longer requires second-lien holders to agree to accept 6 percent of the unpaid principal balance owed them, up to $6,000. Servicers now decide who gets paid how much, with a cap still at $6000. HAFA now requires borrowers seeking a short sale get an answer/agreement within 30 days. To view the full article and video http://www.cnbc.com/id/40930787/ Yours Very Truly, Aundrea Beach-Greco The Beach-Greco Team Mortgage Advisor, CMP, CMPS™ Residential Mortgage Services Cell | 702. 326.7866 Fax | 702. 446.8646 Toll Free | 877. AUNDREA info@aundreabeach.com www.AundreaBeach.com| www.TailorMyMortgage.com Doctors, lawyers, even beauticians adhere to strict education requirements and licensing. Do you want someone who is not bound to those standards looking at your credit and finances? Consult a CMPS™ today! NV license #2439 NMLS #333739 Posted by Aundrea Beach-Greco on January 12th, 2011 3:02 PMPost a Comment (0) Subscribe to this blog * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

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Doctors, lawyers, even beauticians adhere to strict education requirements and licensing.  Do you want someone who is not bound to certain mortgage licensing standards looking at your credit and finances? Consult a CMPS™!

Certified Mortgage Planning Specialist, CMPS™ represent a new professional category in the mortgage sector: one that arose as a response to legitimate criticisms of the mortgage banking industry.

Mortgage Planners must have regional mortgage licensing, undergo structured training, and pass a battery of tests in order to be certified by private Certified Mortgage Planning institutions. They must also pursue and document ongoing training regarding the mortgage banking industry, the markets that impact home finance products, the role of interfacing with financial services professionals, and the methods, means, and ethics associated with advising consumers on home mortgages.

Certified Mortgage Planners work in concert with other finance professionals, including Realtors, CFPs, CPAs, Insurance Agents and Attorneys to ensure that consumer home finance products are in alignment with market trends, both current and historic. The deliverable of a Certified Mortgage Planner is a "Mortgage Plan" designed to maximize home equity and improve cash flow while wisely managing debt. CMPS professionals are committed, qualified and equipped to implement mortgage, cash flow and real estate equity management strategies that help consumers: Build and conserve wealth, Become debt free sooner, and Achieve financial freedom.

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