@HousingWire | What needs to Happen for New Housing to completely Rebound?

de-guigne-exteriorGood Morning from The Platinum Elite Group and HousingWire! See what needs to happen to truly boost New #Home Sales:
1. Less move-up housing
2. More luxury housing
3. More retiree housing
4. More entry-level housing, but not yet
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Berkshire Hathaway provides us with the tools! Get your free Home Market Report, Free!!!

Market Report

Select Image above and enter your zip code or ZOOM into your area of town and see the statistics that pop up, for FREE!  Another reason to choose us here at PlatinumElite.com or one of the associates! Our tools and back office infrastructure is all geared towards helping the homeowner sell or buy Real Estate! We are here to assist you in finding and providing the necessary information for you to make the healthiest choice for you and your family.

Are Banks Stealing Homes from Homeowners? You Decide!

Banks are still practicing Flawed Broker Price Opinions and perpetuating Foreclosures against Homeowners!

Platinum Elite Group

Short-Sale-Questions-262x300

Recently, the President of the GLVAR (Greater Las Vegas Association of Realtors), asked all Realtors to stand-up for what is right. Banks and Servicing Entities are again instructing BPO Agents to not include Foreclosures, REO properties, Short Sales, Properties in poor condition, and are including properties that are too far out from the subject property. They are also using, “As-Is” Language, which is not recognized in the State of Nevada, it should be “As-Disclosed!” Whatever happened to “Fair Market Value!” These same banks would not loan on a property based on the same valuation and criteria they are setting for Short Sales. This is a “To Big to Fail” Mentality and the BPO Agents are agreeing to it to get the work!

I attended a mediation hearing for a client, as a service we provide, where I pointed out to the mediator the flaws in the Bank ordered BPO and…

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Why are Banks more likely to do a Short Sale now, than before? Let Platinum Elite Group explain why…

All the indicators are out there that the Real Estate Market is doing better. However, a number of Homeowners are still Underwater and need assistance.  In addition to this we have a 6 to 1 Ratio of Shadow Inventory to REO’s according to a recent Article published by DS NewsPlatinum Elite Group is aware that the recent rise in Homeowner Appreciation is not just expected, it is anticipated, however, basic economics tells us that this is dictated by supply and demand.  The Institutional REIT‘s that have been competing with the general public with our short supply have artificially pushed these prices up faster than anticipated.  We agree prices will go up and continue to go up through 2014 to 2017 with tapering anticipated during this same time frame.  This is an opportunity for Distressed Homeowners that have attempted to either do a Loan Modification | Short Sale | SSLB – Short Sale Lease Back | Bankruptcy or any type of workout with their lender, that same lender may be more motivated to do a workout at this point as their inherent losses have been diminished with the most recent spike in Real Estate Single Family Resident Appreciation in most metropolitan areas.  Watch this Video and determine if Short Sale with a full deficiency waiver is a viable option for you or family?

We believe in the education of our clients as to all of the options available to them, by doing so, we have found the Homeowner to be able to make the healthiest decisions for themselves and their family while reaching for the best possible outcome. The information we and our network of consultants | contributors provide is at no cost and | or no advance fee consultations.  We can assist you in knowing which is your best option in relation to your real estate needs and we look forward to helping you get the assistance you need to maneuver through this unprecedented Market.  Please contact any Platinum Elite Associate by clicking our HomePage, E-mail us at Info@PlatinumElite.com, or call us at 702-869-9999.

The Platinum Elite Group or Follow-us on Facebook | Twitter | Linked-In | Trulia | Realtor.com all links are on the right column or our HomePage.

Predatory Practices still in full swing against Homeowners?

Update to Predatory Practices against Homeowners! We closed without having to go through Auction.com

Platinum Elite Group

Update to Predatory Practices: The property in question that brought this Nationstar vs. Auction.com issue to light, has now closed! We were able to successfully remove the Auction Task and complete the Close of Escrow last week without participating in their mandatory process described, below. This was done by the cooperation of the Platinum Elite Group Team and Negotiation Service Providers as well as all of those that are involved in any transaction that is distressed.  Thank you to everyone that participated, responded, and commented on this article.  It is the collaboration and activism that empowers us to push through the complexities thrown at us through the Lending servicers and the sometimes unrealistic guidelines set in place by the investors.

We believe in the education of our clients as to all of the options available to them, by doing so, we have found the Homeowner to be able to make the…

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How soon after doing a Modified Pay-Off, Short Sale, Foreclosure, Deed-in-Lieu can I buy a home, again? Watch our newest video and see…

Platinum Elite and our contributors through Neighborhood Home Rescue Program answer the tough questions with real answers in our newest video release, “Moving Forward with Lending!” Taken from our Workshop that is geared towards educating homeowners that are faced with or have faced a Distressed circumstance and want to know how soon they can truly be back in the home purchasing market.  This video covers Highlights from our Distressed Homeowner Option Video with one of our Contributors, Dave Cooper a Mortgage Consultant with Shelter Mortgage Company.  In the re-cap of the options Dave Cooper explains the lending process and the credit ramifications from these various options and what lenders are looking for when a homeowner is preparing to re-purchase or is ready to purchase. Watch and learn from one of many of our Neighborhood Home Rescue Contributors.

We believe in the education of our clients as to all of the options available to them, by doing so, we have found the Homeowner to be able to make the healthiest decisions for themselves and their family while reaching for the best possible outcome. The information we and our network of consultants | contributors provide is at no cost and | or no advance fee consultations.  We can assist you in knowing which is your best option in relation to your real estate needs and we look forward to helping you get the assistance you need to maneuver through this unprecedented Market.  Please contact any Platinum Elite Associate by clicking our HomePage, E-mail us at Info@PlatinumElite.com, or call us at 702-869-9999.

The Platinum Elite Group or Follow-us on Facebook | Twitter | Linked-In | Trulia | Realtor.com all links are on the right column or our HomePage.

 

Why are Platinum Elite Clients Cashing Checks in the Thousands from The National Mortgage Settlement?

“Errors Afflict More Checks Issues to Aid Homeowners”

By Ben Protess and Jessica Silver-Greenbergmortgage-blog-foreclosure-letter-21

“At least these checks cleared,” I love the way these two columnists start this article, however, the results of this Rust Consulting Fiasco is no laughing matter.  This has effected not just Platinum Elite Clients, it has effected homeowners across the nation that expected some type of relief from a Global Settlement between the Federal Government and 13 Institutional Lenders.  This Settlement as described in the article was deemed ” The National Mortgage Settlement” and was created to assist in bring relief to homeowners that had been wrongfully filed against or wrongfully foreclosed upon by the participating lenders.  The National Mortgage Settlement is being managed for these 13 lending institutions and overseen by government regulators by Rust Consulting.  Though its intial intention was to bring relief to homeowners it has been in the media  for its mishaps more than it’s successes and these errors are documented.  What we wanted to do is start tracking these Errors and enumerate these mishaps to see how far or how long it takes for this to get enough attention to be resolved.  Let’s take a look at the “Mishaps” one at a time;

  1. “Slow to alert borrowers to expected payments since settlement was announced in January.” Checks not issued until April.
  2. “Rust delayed the checks for weeks as it struggled to gear up for the payments.” They knew since January and were not ready until April, Three months and they weren’t prepared.
  3. “Once Rust Consulting issued the first round of the checks in April, it failed to move money into the bank account used for the settlement.” So, checks were returned for insufficient funds. Who pays the NSF fees?
  4. “Homeowners complained about clerical errors at Rust Consulting, problems like checks sent to the wrong addresses or issued to deceased borrowers.” This, after being contacted numerous times by individual homeowners. Furthermore, one of our staff here called for personal reasons and found that the addresses they are using are the foreclosed property address unless they have been notified otherwise. Last we checked, once a foreclosure happens, you are most likely not still living in the property. Past foreclosed homeowners may need to contact The National Mortgage Settlement Program, directly.
  5. The newest “Fiasco” lumped together, “sending out checks in the wrong amount,” and, “failed to follow the payout plan.”  This is even more interesting as 11 of the 13 banks adopted a “Metric” to calculate payouts to harmed homeowners.  Read further and you will see that this “Metric” and what phase the “Harmed Homeowner” was in determines the amount of the payout to the injured party.
  6. As Reported by the NYTimes, “Mr. Cummings, the Congressman from Maryland, noted that Rust Consulting does not include an explanation of what homeowners are owed under the settlement.” With no mention of this “Metric”, what you may be owed, or why you even received the payment as a part of “The Worst Settlement Ever,” how are you to know if you were reasonably compensated from this $3.6 Billion Dollar Settlement?
  7. “Space reserved for next Mis-hap?” It’s going to happen, the Fed is already asking for an investigation according to Reuters.

My last question after recapping, and we will keep tabs on this, is who gets the interest on $3.6 Billion Dollars while we wait for Rust Consulting to figure out how to fix these problems, or as the Naked Capitalism Blog mentions, “Errors by Design,” you have to wonder, don’t you?

We believe in the education of our clients as to all of the options available to them, by doing so, we have found the Homeowner to be able to make the healthiest decisions for themselves and their family while reaching for the best possible outcome. The information we and our network of consultants | contributors provide is at no cost and | or no advance fee consultations.  We can assist you in knowing which is your best option in relation to your real estate needs and we look forward to helping you get the assistance you need to maneuver through this unprecedented Market.  Please contact any Platinum Elite Associate by clicking our HomePage, E-mail us at Info@PlatinumElite.com, or call us at 702-869-9999.

The Platinum Elite Group or Follow-us on Facebook | Twitter | Linked-In | Trulia | Realtor.com all links are on the right column or our HomePage.