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  • Will You Add? - How To Buy Pre-Foreclosures

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    to listen to your offer. The FHA’s loss mitigation program lists pre-foreclosure sales as one of five options that lenders have the authority and responsibility to investigate when working with homeowners in financial difficulties with t
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    Everyone knows that the government doesn’t like to lose money, and now the Federal Housing Association (FHA) has upped the ante for lenders that do not engage in loss mitigation efforts. The U.S. Housing and Urban Development (HUD) Department recently announced a program to reward lenders for trying harder to recoup their losses before declaring a loan in default.

    Previously, HUD was able to assess fines up to $1.25 million per year against a lender that did not utilize mitigation programs. Now, these fines are uncapped, and the lenders can be assessed additional damages up to TRIPLE THE AMOUNT of any FHA mortgage insurance benefit claimed by the lender!

    However, this dramatic step is coupled with a dramatic reward: lenders can claim additional benefits if they can show they’ve followed all suggested procedures.

    Either way, this is great news for short-sale investors, because it makes it very worthwhile for a bank or lender to listen to your offer. The FHA’s loss mitigation program lists pre-foreclosure sales as one of five options that lenders have the authority and responsibility to investigate when working with homeowners in financial difficulties with t

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    ment recently announced a program to reward lenders for trying harder to recoup their losses before declaring a loan in default.

    Previously, HUD was able to assess fines up to $1.25 million per year against a lender that did not utilize mitigation programs. Now, these fines are uncapped, and the lenders can be assessed additional damages up to TRIPLE THE AMOUNT of any FHA mortgage insurance benefit claimed by the lender!

    However, this dramatic step is coupled with a dramatic reward: lenders can claim additional benefits if they can show they’ve followed all suggested procedures.

    Either way, this is great news for short-sale investors, because it makes it very worthwhile for a bank or lender to listen to your offer. The FHA’s loss mitigation program lists pre-foreclosure sales as one of five options that lenders have the authority and responsibility to investigate when working with homeowners in financial difficulties with t

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    ize mitigation programs. Now, these fines are uncapped, and the lenders can be assessed additional damages up to TRIPLE THE AMOUNT of any FHA mortgage insurance benefit claimed by the lender!

    However, this dramatic step is coupled with a dramatic reward: lenders can claim additional benefits if they can show they’ve followed all suggested procedures.

    Either way, this is great news for short-sale investors, because it makes it very worthwhile for a bank or lender to listen to your offer. The FHA’s loss mitigation program lists pre-foreclosure sales as one of five options that lenders have the authority and responsibility to investigate when working with homeowners in financial difficulties with t

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    th a dramatic reward: lenders can claim additional benefits if they can show they’ve followed all suggested procedures.

    Either way, this is great news for short-sale investors, because it makes it very worthwhile for a bank or lender to listen to your offer. The FHA’s loss mitigation program lists pre-foreclosure sales as one of five options that lenders have the authority and responsibility to investigate when working with homeowners in financial difficulties with t

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    to listen to your offer. The FHA’s loss mitigation program lists pre-foreclosure sales as one of five options that lenders have the authority and responsibility to investigate when working with homeowners in financial difficulties with their mortgage.

    This new policy came into effect in Summer of 2006.

    "Short Sales: A SAFE PLACE To Be During The Coming Real Estate Blood-Bath"

    Let's face it: Nobody can predict the future of real estate prices, but many people agree that parts of the United States are due for some significant price declines after the irrational appreciation of the late 90's and early 2000's. Indeed, this has already begun to happen in some of the areas of the United States. Additionally, mortgage lending guidelines have been so profoundly lax in recent years that many borrowers who were unqualified by any reasonable lending standard have acquired variable rate mortgages that they could pay while rates were low, but as interest rates rise, those variable rate mortgages are now returning to "bite" these unqualified buyers.

    Where does this leave short sellers? In a very nice position.

    You see, as property values decline and mort

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