Steve Wadkins, Short Sale Expert CDPE-SFR-CIAS

Tax Waiver On Mortgage Debt Forgiveness & What Does This Mean To All Of Us Homeowners???? By Steve Wadkins

Thu, 16 Feb 2012 15:59:35 GMT

Tax Waiver On Mortgage Debt Forgiveness & What Does This Mean To All Of Us Homeowners???? By Steve Wadkins

This Act ensures that homeowners who received before December 31, 2012 a Short Sale or other forms of debt forgiveness on their primary residence do not have to pay taxes on the amount forgiven. Without the Mortgage Forgiveness Debt Relief Act, the debt reduced in a short sale or mortgage modification qualifies as income to the borrower and is taxable. The Administration is proposing an extension. Call your CPA for more information on this or call me and I will give you CPA Firm Telephone numbers.

In My Opinion; if this is not extended, which I don’t believe it will be, then the banks will need to Pony up money to the short sellers to cure the income taxes against us homeowners. This is why it is very important to not ride the fence on a short sale if you are in an Unmanageable Mortgage.

I am having a FREE Homeowner Event this next Wednesday February 22, 2012 at 6:00 pm at my office in the Training Center. This Event is open to Homeowners that want to know what their Options are and questions answered by one of my guest a Real Estate Attorney. You don’t want to miss this. If you are interested email me at Info@WadkinsHomeTeam.com to RSVP.

As an Advanced Certified Distressed Property Expert CDPE Licensed Realtor® I can Help you Navigate through Your Unmanageable Mortgage

Steve Wadkins CDPE Realtor®

Realty ONE Group/Wadkins Home Team

702-281-8288

www.LasVegasShortSaleHotLine.com

Are You Living Under the Cloud of an Unmanageable Mortgage? Illness? Taxes? Debt? Crisis? Anxiety? Job Loss? By Steve Wadkins-Realtor®

Tue, 31 Jan 2012 13:03:12 GMT

Are You Living Under the Cloud of an Unmanageable Mortgage? Illness? Taxes? Debt? Crisis? Anxiety? Job Loss? By Steve Wadkins-Realtor®

A lot has changed since you bought your home. Home values have tanked, unemployment has spiked and homeownership has taken a turn for the worse.

Millions feel stuck in a home they can’t afford to sell because they owe more on their mortgage than the home is worth. And for many, the mortgage payment is no longer manageable, so they are slipping farther and farther behind every month.

At the same time, scam artists are coming up with new schemes to take advantage of homeowners who are down on their luck.

As an Advanced Certified Distressed Property Expert (CDPE) my mission is to help Las Vegas homeowners to steer clear of scams and figure out the best option based on their circumstances. The fact is, no one wants to see you foreclose on your home, and more help is available than ever before.

I invite you to visit my website www.LasVegasShortSaleHotLine.com for a copy of my recent report entitled, “Are You Living Under the Cloud of an Unmanageable Mortgage?”

And then contact me for a confidential consultation.

Steve Wadkins-Realtor®

Realty ONE Group

702-281-8288

Are Las Vegas Homeowners Glad They Own? By Steve & Gerri Wadkins Realtor®

Fri, 27 Jan 2012 17:42:16 GMT

Are Las Vegas Homeowners Glad They Own? By Steve & Gerri Wadkins Realtor®

Over 75% percent approximately of Las Vegas Homeowners are satisfied with owning a home. The other 25 percent, not so. They say they're dissatisfied and that's likely due to the devaluation of their homes.

Majority Las Vegas Homeowners had many other reasons they were happy to own their own home including the one that proves the American Dream is alive and well: Owning your own home at today’s prices and interest rates is cheaper than renting or the same price per month with pride of homeownership. Following closely behind were the freedom to control their home improvements and upgrades.

Majority are very happy with homeownership even in spite of such rocky real estate times where declines in home values have crippled some homeowners severely.

People ask us all the time, “do you think I can buy a home when we short sold our house”? Absolutely, each person’s financial status is different, but the answer is YES and there are loans for everyone. We will introduce you to Loan Officers to Help everyone to own their own home.

Owning a Home is a great investment for everyone. We always want our buyers to buy a Home that they can afford, then move up later if their financial status can support.

Gerri and I read the book by Dave Ramsey, The Total Money Makeover. Great book, we highly recommend it to everyone. It has changed our lives.

Steve & Gerri Wadkins Realtor®

Realty ONE Group/Wadkins Home Team

702-591-2576 / 702-281-8288

Why Buy a Home In Las Vegas? By Steve Wadkins & Gerri Wadkins Realtor®

Wed, 25 Jan 2012 18:32:26 GMT

Why Buy a Home In Las Vegas? By Steve Wadkins & Gerri Wadkins Realtor®

You’ve probably heard it all over media outlets. "Affordability is at an all-time high." "Interest rates are below 4.0 percent!" The question remains, however, why buy a home?

With interest rates at historically low levels and markets across the country beginning to improve, homeownership is within reach of more households than it has been for nearly two decades.

What does this mean for Las Vegas buyers? It means that you should be calling us and asking what home prices are and compare those to your own family income. Are you in the position to buy a larger home or move up thanks to low rates and low prices?

The Las Vegas market is the perfect climate today for buyers with cash for down payments, steady incomes, and good credit scores. Buying today is full of opportunity. You can buy more home for less money and pay less interest over the life of the loan thanks to incredibly low interest rates. We are reading that the banks are loosening up on getting financing for homeownership. We will give you names of Loan Officers here in Las Vegas.

Rates have never been this low. They are currently under 4.0 percent for buyers. Even if you don’t have an excellent credit score you may still be eligible for other good rates or deals. Now is the time to find out!

There are fewer buyers on the market, which means you have more leverage at the negotiating tables. Sellers are willing to make more concessions and many are motivated to sell, especially if their home has been lingering on the market. New Homes are sitting ready to move in, call me and I will represent you on the buyers side.

Additionally, there are incredible deals to be had on the glut of foreclosed and short sale homes which are now on the market. Many homes that have been delinquent for years are just now hitting the market. These banks are ready to unload.

Why should you buy a home right now? You’re going to find better deals, lower prices, and the best rates in history for buying a home. That sounds like an ideal time to enter the market! Call us and ask questions.

Steve & Gerri Wadkins Realtor®

Realty ONE Group/Wadkins Home Team

702-591-2576

Foreclosures Set to Rise in 2012 by Steve Wadkins-Realtor®

Tue, 24 Jan 2012 14:28:27 GMT

Foreclosures Set to Rise in 2012 by Steve Wadkins-Realtor®

There’s both good news and bad news on the foreclosure front.

The good news? According to RealtyTrac’s Year-End 2011 U.S. Foreclosure Market Report™, total U.S. foreclosure activity and the foreclosure rate were both at their lowest annual level since 2007.

The bad news? Foreclosure levels were artificially lowered due to delays following the robo-signing scandal and AB-284. However, those delayed foreclosures will likely reappear in 2012.

“There were strong signs in the second half of 2011 that lenders are finally beginning to push through some of the delayed foreclosures in select local markets. We expect that trend to continue this year, boosting foreclosure activity for 2012 higher than it was in 2011,” said Brandon Moore, chief executive officer of RealtyTrac.

Fortunately, both the financial and government sectors are more committed than ever to finding alternatives to foreclosure, including short sales. In fact, Bank of America expects a 60-70% increase in short sale closings this year.

I am prepared to assist distressed homeowners during the upcoming surge in foreclosure filings. If you need to “know your Options to Foreclosure” meet with me or call and I will advise you of all your Options that Las Vegas Homeowners don’t know about.

Steve Wadkins-Realtor® 702-281-8288 “CLICK ON MY NAME”

Realty ONE Group/Wadkins Home Team

2011 Real Estate Recap: Short Sales Up; Foreclosures Down

Thu, 19 Jan 2012 16:49:38 GMT

2011 Real Estate Recap: Short Sales Up; Foreclosures Down

When the "robo-signing" scandal that broke in the fall of 2010 put a temporary lid on foreclosure activity, AB-284, banks sharpened their focus on short sales as the lesser of two evils. 2011 was a year of great strides in the short sale arena as major banks refined their systems and staffed up their infrastructures to handle the accelerating surge of short sale requests.

The result? Short Sales rose to record levels in 2011, while foreclosures fell.

Increasing negative equity continues to fuel the demand for short sales. Even though price declines slowed throughout 2011, U.S. home values dropped by more than $681 last year.

Entering into 2012, experts are forecasting an upward spike in Short Sales as banks begin to work through the backlog of delinquent properties.

At the same time, banks now have the systems to handle Short Sales, and a growing population of Las Vegas homeowners who are discovering that they owe more on their home than it's worth, are in need of help from a CDPE Certified Distressed Property Expert Real Estate Agent as myself to negotiate a short sale on their behalf—key among the reasons why 2012 has already been labeled "The Year of the Short Sale."

To read my Las Vegas Real Estate Updates log onto http://wadkinshometeam.com/blog/ and if you have questions regarding Real Estate, call me for a FREE consultation and my FREE services at 702-281-8288

Steve Wadkins Realtor® CDPE

Realty ONE Group

702-281-8288

http://www.LasVegasShortSaleHotLine.com

Moving With Our Pets Las Vegas

Mon, 16 Jan 2012 13:19:11 GMT

Moving With Our Pets

Our Pets we Love because they are family. In some households they're our Kids. How can you make the time of moving an easy transition for your hairy friends?

Pets look to us to provide them with safety & affection. This means it is our responsibility to plan ahead so that moving time is low stress for our pets.

First, plan ahead for the days when you are loading moving vans and house doors are likely to be open. This is not the time to be chasing your Pet down the street or to lose a kitty with no time to spare.

Reach out to a friend or relative that can act as a pet sitter. Sometimes neither of these options are possible. In this case it is important to keep a pet closed up in one room, crated, or carefully fenced in the backyard while movers are going in and out.

Next, keep routines consistent. Most animals have set times during which they eat and take potty breaks. It's a good idea to keep on the same schedule. This means taking your dog on walks in the morning or afternoon, even if you're busy. As an added bonus, this walk can be healthy as well!

Keep food consistent as well by planning ahead. Some animals require special prescription veterinary diets.

While you're at the vets office get all your animals up-to-date on any vaccinations. Get records or prescriptions for your new vet's office. Consider micro chipping your pet in case they wander or get lost during the move. If you don't want to microchip them be sure to update their tags with new phone numbers or addresses.

Once you arrive at your new home, hurry and set up their "go to" areas. It might be a good idea to isolate them in a bedroom or bathroom where you can keep them contained as you unload your belongings. Set up water, food, a bed, and a litter box if needed. Spend a few minutes with them to reassure them everything is okay. Check on them often.

Moving is a very stressful time. By planning ahead and taking a few compassionate steps you can help your pets transition to their new home with ease and excitement. By planning, it will reduce the stress off of you knowing your Pets will be happy in their new home.

If you are looking to Buy a Home or Rent A Home call Gerri Wadkins-Realtor® 702-591-2576

If you are looking to Sell a Home call Steve Wadkins-Realtor® 702-281-8288

Steve & Gerri Wadkins Realtor®

Realty ONE Group

http://www.LasVegasShortSaleHotLine.com

702-281-8288 or 702-591-2576

Fantastic News For Some Homeowners: Freddie Mac Announces Up to 12-Month Forbearance for Unemployed

Sat, 14 Jan 2012 11:01:22 GMT

Fantastic News For Some Homeowners: Freddie Mac Announces Up to 12-Month Forbearance for Unemployed

Effective Feb. 1, 2012 Freddie Mac is giving mortgage servicers expanded authority to provide six months of forbearance to unemployed mortgage holders without prior approval, and an additional six months (12 months total) with prior approval. This new policy essentially doubles the previously offered forbearance period.

VERY important to note:

This applies to Freddie Mac-owned or guaranteed loans only.
There is ACTION required. The homeowner must contact the servicer to request the forbearance.
Delinquent borrowers in an existing short-term forbearance plan can be evaluated for an extended forbearance term under the new policy. Again, homeowners will need to contact their servicer to apply.

Any Questions, call me 702-281-8288 “Solving The Foreclosure Crisis One Homeowner At A Time”

Steve Wadkins-Realtor®

Realty ONE Group

702-281-8288

Federal Reserve Recommends Short Sales Among Solutions to Housing Crisis

http://www.LasVegasShortSaleHotLine.com Tipping the Scales Toward Foreclosure?

Wed, 11 Jan 2012 16:32:34 GMT

Tipping the Scales Toward Foreclosure?

A Financial Resolution for 2012

Dear Friends:

Millions of homeowners in this country are unable to afford the payments on a home that's worth less than the amount they owe on their mortgage.

These are people who have played by the rules, made good decisions, and had every reason to believe that the American Dream of homeownership was in their hands.

Unemployment, underemployment and real estate market upheaval has derailed a lot of those dreams. Since 2007, 8.9 million homes have been lost to foreclosure.

My mission is to keep YOU and anyone you care about from adding to that statistic.

The fact is, there are options to foreclosure—better options now than ever before.

As a Certified Distressed Property Expert (CDPE), I have the training and expertise to help distressed homeowners to make a positive fresh start. If you or anyone you care about is faced with an unmanageable mortgage, I can help.

I invite you to visit my website http://www.LasVegasShortSaleHotLine.com for a copy of my recent report entitled, "Tipping the Scales Toward Foreclosure?"

Contact me today and let's get started on a positive start to 2012!

Steve Wadkins-Realtor

Realty ONE Group Las Vegas

702-281-8288

Federal Reserve Recommends Short Sales Among Solutions to Housing Crisis

Tue, 10 Jan 2012 10:51:43 GMT

On Jan. 4, Federal Reserve Chairman Ben Bernanke sent a letter and white paper to Congress outlining his insights and recommendations on restoring the health of the U.S. housing market.

Among the key findings on current market conditions:

§ Housing prices remain 33% below their early 2006 peak

§ Currently, 1 in 5 mortgage holders are underwater (12 million homeowners)

§ In states with the price declines (i.e. Nevada, Arizona and Florida) roughly half of all mortgage borrowers are underwater on their loans

§ The number of properties currently in the foreclosure process is more than four times larger than the number of properties in REO inventory

The white paper suggests that no single solution exists and that progress will come through “persistent and careful efforts to address a range of difficult and interdependent issues”—a position we have always stressed.

Among these efforts, the paper strongly recommends incentives for alternatives to foreclosure, namely a short sale or deed-in-lieu. Questions? Call me 702-281-8288

The white paper also emphasizes a fact we are all too aware of: foreclosures drive down property values in the surrounding area and lead to a “ripple-effect” that harms homeowners, lenders and taxpayers alike.

Watch my Video Blog Post to hear more insights on the Federal Reserve’s recommendations.

Steve Wadkins-Realtor®- Certified Distressed Property Expert

Realty ONE Group

702-281-8288

www.WadkinsHomeTeam.com www.LasVegasShortSaleHotLine.com

10 Warning Signs of a Mortgage Modification Scam*

Sat, 10 Dec 2011 12:14:38 GMT

10 Warning Signs of a Mortgage Modification Scam*

Mortgage Modification Scams Are On The Rise. Get The Facts and Know All Your Options. Call Me For A Free Consultation 702-281-8288 Steve Wadkins Realtor® Nextage Property Solutions Wadkins Home Team http://www.LasVegasShortSaleHotLine.com

1. “Pay us $1,000, and we’ll save your home.”

Some legitimate housing counselors may

charge small fees, but fees that amount to

thousands of dollars are sign of potential

fraud — especially if they are charged

up-front.

2. “I guarantee I will save your home – trust

me.” Beware of guarantees. Unrealistic

promises are a sign that the person making

them has not considered your specific

circumstances.

3. “Sign over your home, and we’ll let you stay

in it.” Be very suspicious if someone offers

to pay your mortgage and rent your home

back to you in exchange for transferring the

title. Signing over the deed gives another

person the power to evict you, raise your rent

or sell the house.

4. “Stop paying your mortgage.” Do not

trust anyone who tells you to stop making

payments to your lender and servicer, even if

that person says it will be done for you.

5. “If your lender calls, don’t talk to them.”

Your lender should be your first point of

contact for negotiating a repayment plan,

modification, or short sale.

6. “Your lender never had the legal authority

to make a loan.” Do not listen to anyone

who claims that “secret laws” or “secret

information” will be used to eliminate your

debt and have your mortgage contract

declared invalid.

7. “Just sign this now; we’ll fill in the blanks

later.” Take the time to read and understand

anything you sign. Never let anyone else fill out

paperwork for you. Don’t let anyone pressure

you into signing anything that you don’t agree

with or understand.

8. “Call 1-800-Fed-Loan.” Some companies trick

borrowers into believing that they are affiliated

with or are approved by the government or

tell you that you must pay them high fees

to qualify for government loan modification

programs.

9. “File for bankruptcy and keep your home.”

Filing bankruptcy only temporarily stops

foreclosure. If your mortgage payments are

not made, the bankruptcy court will eventually

allow your lender to foreclose on your home.

10. “Why haven’t you replied to our offer? Do you

want to live on the streets?” High-pressure

tactics signal trouble.

*Source: Office of the Comptroller of the Currency

Place Your Confidence in CDPE

With the right assistance, the stress of facing foreclosure becomes manageable. CDPE-designated agents have received the knowledge and training necessary to assess all possible foreclosure alternatives and pursue homeowners’ best options. A CDPE-designated agent attends several days of intensive, thorough training on foreclosure avoidance and how to negotiate short sales efficiently and ethically. The highly regarded CDPE logo means you are working with the most informed, up-to-date resource available. “That Is, Steve Wadkins” 702-281-8288

A fresh financial start for 2012 http://www.LasVegasShortSaleHotLine.com

Mon, 05 Dec 2011 15:34:43 GMT

A fresh financial start for 2012 http://www.LasVegasShortSaleHotLine.com

http://www.LasVegasShortSaleHotLine.com An unmanageable mortgage is an unbearable burden.

As we enter into the holiday season, millions of families are fearing foreclosure and not knowing where to turn and Who To Get The Truth From.

More than 78 percent of Las Vegas Homeowners owe more on their home than it's worth in today's market. Add to that an unacceptable rate of unemployment and underemployment, and you've got a housing crisis with no easy answers.

As an Advanced Certified Distressed Property Expert (CDPE) it is my mission to help homeowners to avoid foreclosure and to get their lives on a positive path. If you or anyone you care about is faced with an unmanageable mortgage, I invite you to visit my website or forward this link http://www.LasVegasShortSaleHotLine.com for a copy of my most recent report entitled, "Mortgage Payment Weighing You Down."

The fact is, more help is available for homeowners than ever before. This is no time to go it alone, and the time to contact me about getting on path toward financial stability is NOW!

Sincerely yours,

Steve Wadkins-Realtor®

Nextage Property Solutions Las Vegas

702-281-8288

Wadkins Home Team #1 For All Your Real Estate

http://www.LasVegasShortSaleHotLine.com Strategic Defaulters Plays Poker…

Fri, 02 Dec 2011 16:27:22 GMT

http://www.LasVegasShortSaleHotLine.com Strategic Defaulters Plays Poker…

More than one in three Las Vegas Homeowners think it's okay to walk away from their mortgage, because they don't think it's worth it to hold onto a home with a market value that is less than the mortgage balance.

Studies have found that strategic defaulters may not pay their mortgage, but they keep current on other credit so it is available to see them through the foreclosure. Keeping current on other credit also helps them regain a high credit score sooner than others who go into foreclosure and wreck all their credit.

That means strategic defaulters tend to go into foreclosure with a higher credit score than those who enter foreclosure because they can't pay the mortgage.

Some professionals will tell you seven-ten years must pass before you can purchase a home again. Don’t walk-away, there are several options to avoid foreclosure. One is short sale which some Lenders are qualifying buyers right out of a short sale if qualified. Lenders are paying sellers to cooperate in short selling their home of amounts $3,000, $5,000, $10,000…

Several Banks are qualifying sellers for a short sale while current on their mortgage do to foreseeable hardships. There are programs that fit majority of the Homeowners; log onto my website to see details http://www.LasVegasShortSaleHotLine.com for Free Reports.

Expectations of a Strategic default:

• A foreclosure remains on your credit report for seven years and your credit score can plunge by as much as 300 points plus or minus and is forever reported. Only bankruptcy will affect your credit score more adversely than foreclosure. Bankruptcy can remain on your credit report for 10 years is also forever reported.

• Last year, Fannie Mae began prohibiting strategic defaulters from obtaining Fannie Mae-backed mortgages for seven years after a strategic default-triggered foreclosure. That reduces the number of home loans available to you after a strategic default.

• You could also face problems shopping for insurance or applying for a rental home or a job in some industries where you are expected to have a financially fit character.

• In some cases, the debt the foreclosure "erases" could be recorded as income, against which you'll have to pay taxes. The Mortgage Debt Forgiveness Act expires December 31, 2012 for primary residence.

Again, there are too many options for a homeowner to walk-away and be at risk. For more of my Blogs go to http://www.WadkinsHomeTeam.com/blogs

Steve Wadkins Realtor®

NPS 702-281-8288

http://www.LasVegasShortSaleHotLine.com Friends Don’t Let Friends Foreclose!

Mon, 07 Nov 2011 12:17:28 GMT

Friends Don’t Let Friends Foreclose!

Dear Family and Friends,

The economy and the Las Vegas real estate market have taken their toll on our lives in many different ways. The latest statistics are that 6.3 million homeowners are currently in some state of foreclosure, and even more tragic is the fact that so often, homeowners let their homes slip into foreclosure without ever reaching out for help.

If you or anyone you care about is having trouble making their mortgage payment, you are not alone. And as a real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation, I am tapped into major lenders and the latest options for avoiding foreclosure and helping homeowners to get a fresh start to their lives.

Please don’t hesitate to contact me or forward my email or phone number to anyone you know who could benefit from a consultation on how to get out from under a burdensome mortgage.

Best regards,

Steve Wadkins Realtor® Advanced CDPE

702-281-8288

Realty ONE Group

http://www.LasVegasShortSaleHotLine.com “Unmanageable Mortgage? Change The Course And Navigate Away From An Unmanageable Mortage” by Steve Wadkins Las Vegas

Thu, 03 Nov 2011 18:41:08 GMT

http://www.LasVegasShortSaleHotLine.com “Unmanageable Mortgage? Change The Course And Navigate Away From An Unmanageable Mortage” by Steve Wadkins Las Vegas

Shifting economic winds have left millions of Americans feeling financially stranded and not knowing where to turn.

For Las Vegas homeowners who have lost their jobs, spent through their savings and now find themselves with a mortgage payment they can no longer afford on a home that’s worth less in today’s market than the amount they owe their bank, there are no easy answers.

Helping clients to figure out their best course of action within a market that’s nothing like any of us have ever dealt with before requires an entirely new level of expertise and training. That’s why I’ve sought out and have been for the last Four Years the Las Vegas Certified Distressed Property Expert (CDPE) designation—the most recognized and respected training on distressed properties in the real estate industry.

Most importantly, I am tapped into a network that holds its members to the highest standards of ethics and expertise.

I invite you to visit my websiteand contact me if you know someone you know who I could help. And please feel free to refer my contact information to others within your sphere.

Sincerely,

Steve Wadkins Realtor® Advanced CDPE

NPS

702-281-8288

HARP 2.0 Home Affordable Refinance Program: What it is; What it isn’t

HARP 2.0 Home Affordable Refinance Program: What it is; What it isn’t

Fri, 28 Oct 2011 19:45:15 GMT

When the Obama Administration announced a series of changes to the Home Affordable Refinance Program (HARP) early this week, my phones started ringing with inquiries from Las Vegas Homeowners for my input concerning their situation.

Here’s essentially what my opinion is about the revamped government mortgage refinancing program:

HARP 2.0, as the media has started to refer to it, has some merit, but it’s scope is very limited and it will have little or no impact on foreclosures or the estimated 6.4 million homeowners nationwide who are behind on their mortgage payments. The new HARP just expands the net of those who were eligible for help under the original version.

HARP was created in 2009 to help borrowers whose loans were backed by Fannie Mae, Freddie Mac or the FHA, but did not have enough equity or negative equity to refinance. Under the original version of HARP, borrowers who were current on their payments and owed up to 125 percent of the current value of their homes could refinance their mortgage.

The original HARP fell short of expectations. Over the past two and a half years, only 838,000 homeowners have benefited from the program. The new HARP has broadened the base with looser eligibility requirements.

Borrowers with FHA, Fannie Mae or Freddie Mac mortgages that were sold to Fannie or Freddie before May 31, 2009, will be able to refinance, no matter how far underwater they are. Banks will only have to verify that borrowers have made their last six payments, that they’ve haven’t missed more than one payment over the past year, and that they have a job or another source of regular income.

Other key changes:

· Appraisals are no longer required if there is a reliable automated valuation model (AVM)–a significant hurdle in the previous plan.

· Risk-based fees have been eliminated for borrowers who refinance to 15-year mortgages.

· Existing mortgage insurance coverage can be transferred much easier than under the original HARP.

While the new HARP won’t help homeowners who are behind on their payments and at risk for foreclosure, it is a welcome relief for homeowners who have been caught in the Catch-22 of not being able to refinance because they owe more on their mortgage than their home is worth, and at the same time, don’t qualify for a short sale or a loan mod because they are current on their payments and still have income and assets. That Is Great News!

More money into the pockets of this segment will mean more dollars back into the economy, potentially heading off strategic defaults and keeping and stemming the tide of homes entering the foreclosure pipeline.

If you need any information about this program or to know what your options are, call me, 702-281-8288 or go to my website http://www.LasVegasShortSaleHotLine.com for the up-to-date news and free information. If you want to know if your Mortgage is a Fannie, Freddie or FHA call us 702-281-8288 and we will let you know.

Steve Wadkins Realtor® Advanced CDPE

702-281-8288

NPS

http://www.LasVegasShortSaleHotLine.com

Know Anyone Experiencing Mortgage Troubles?

Mon, 03 Oct 2011 16:02:07 GMT

Know Anyone Experiencing Mortgage Troubles?

Those of us, who bought a home over the past five years or so, had no idea about the kind of economic upheaval that was going to follow. In fact, it appears that no one actually anticipated what was in store.

But here we are. An estimated one fourth of the mortgage holders in the country owe more on their home than its current market value. One out of seven are in some state of default or foreclosure. And possibly the most troubling statistic of all: the vast majority of homeowners who end up foreclosing on their home, do so without ever reaching out for HELP or attempt a short sale.

As an Advanced Certified Distressed Property Expert (CDPE) it is my mission to help homeowners to avoid foreclosure and to get their lives on a positive path. If you or anyone you care about is faced with an unmanageable mortgage, please know that I am here to help. I invite you to visit my website or forward this link http://www.vegasshortsalehomes.com/ for a copy of my most recent report entitled, "Need a Helping Hand? If your Mortgage and the Market Have Tossed You a Curve, You're Not Alone."

More help is available for financially distressed homeowners than ever before. This is no time to go it alone, and the time to contact me about getting on path toward financial stability is NOW!

Sincerely yours,

Steve Wadkins-Realtor®

NPS

702-281-8288

“Your Las Vegas Foreclosure Avoidance Team”

http://www.LasVegasShortSaleHotLine.com Is your mortgage payment dragging you down?

Tue, 20 Sep 2011 14:10:46 GMT

http://www.LasVegasShortSaleHotLine.com Is your mortgage payment dragging you down?

When the real estate bubble burst, neither lenders nor legislators had any idea of what the fallout was going to be.

The unfortunate truth is that millions of Americans lost their homes and millions more are facing foreclosure. There are Options to keep this from happening, and I am well versed on the range of Alternatives available.

As an Advanced Certified Distressed Property Expert (CDPE) I carry the most respected and recognized designation in the Las Vegas real estate industry for helping homeowners who are feeling the stress of an unaffordable mortgage. If you or anyone you care about is wondering where to turn and who to trust, I invite you to visit my website http://www.vegasshortsalehomes.com/ for a copy of my most recent report entitled Is Your Mortgage Payment Dragging You Down?

It is my mission to help homeowners facing tough circumstances, and I would truly appreciate you taking the time to refer any homeowners you know who could benefit from my help. I'm sure that they would appreciate it, too. The sooner they contact me, the more time we'll have to develop a strategy to get them back on track to financial stability.

Sincerely yours,

Steve Wadkins-Realtor®

NPS

702-281-8288

10 Solutions To Alleviate The Stress Of An Unaffordable Mortgage

Tue, 02 Aug 2011 16:05:56 GMT

10 Solutions To Alleviate The Stress Of An Unaffordable Mortgage

Startling Statistics regarding the latest distressed property trends:

In a recent study by Lender Processing Services (LPS), 6.38 million people were at least 30 days late on their mortgage payments. If you or someone you care about is feeling the stress of an unaffordable mortgage, please take the time to review the FREE Foreclosure Avoidance Guide listing 10 potential solutions that I've placed on my website:

PUT THOSE YOU CARE ABOUT IN GOOD HANDS

As a Certified Distressed Property Expert (CDPE), I can navigate a homeowner through a variety of Options. I've listed some of the most common alternatives to foreclosures that homeowners can take advantage of to get back on the path to financial stability.

I would truly appreciate you taking the time to refer any homeowners you know that may need my assistance. I'm sure that they would appreciate it, too! The sooner they contact me, the more time we'll have to develop a strategy to avoid foreclosure.

With gratitude,

Steve Wadkins-Realtor®

702-281-8288

Servicers Expand To Assist Distressed Homeowners 7/11/2011 by: Carrie Bay www.DSNews.com

Tue, 12 Jul 2011 14:42:10 GMT

Servicers Expand To Assist Distressed Homeowners

7/11/2011 by: Carrie Bay www.DSNews.com

With delinquent mortgages at unprecedented levels, sheer market conditions command a staff the size of a small army dedicated to working with distressed borrowers. Servicers have added thousands to their loss mitigation teams over the past few years and most are still recruiting.

Wells Fargo has hired and trained 10,000 additional people to work with delinquent customers and reassigned thousands of internal team members, bringing its home preservation staff to 16,000. The company says employees who support home preservation are being utilized in a number of significant ways.

For example, in June of last year, Wells began assigning one mortgage specialist to manage a modification from beginning to end – a measure the company says has made “a big difference” for customers facing financial hardships and has been recognized as an industry best practice.

Wells Fargo has also staffed 27 Home Preservation Centers located in hard-hit communities, and has hosted 32 free home preservation workshops around the country and participated in more than 537 third-party sponsored events since 2009.

JPMorgan Chase has added more than 10,100 new employees nationwide to the default and loss mitigation organization since 2008, almost doubling its staff.

The company has opened dozens of Chase Homeownership Centers since the beginning of 2009. According to a company spokesman, by the end of the summer, Chase will have 82 of these centers nationwide, including six near large military bases.

Chase has partnered with HOPE NOW, nonprofits, and state agencies to conduct over 1,500 local events through April 2011.

Citigroup has a staff of approximately 5,000 employees that the company says is specially trained and dedicated to working with at-risk homeowners.

A spokesperson for Citi noted, “As we work to improve our processes, we are currently adding and training approximately 400 to 500 new employees for homeowner assistance.”

Ally Financial, the parent company of GMACMortgage, has increased its default servicing staff by about 40 percent since late 2008.

Jim Olecki, Ally’s spokesperson, says since the end of 2010, the company has been increasing staff for foreclosure and loss mitigation functions, in particular, and has made loss mitigation a top priority.

The company has established a GMAC Mortgage HOPEteam, which it plans to expand from 16 to 22 cities by the end of the year. These employees will be utilized to attend outreach events and to support local nonprofit agencies.

“We continue to add staff and reallocate our highest performers to key areas in the loss mitigation and home ownership preservation areas, including to single point-of-contact teams,” Olecki said.

The team dedicated to distressed borrowers at Bank of America has increased from 3,900 in 2008 to 32,000 today. BofA says its goal is to add another 3,000 by the end of the year. The company has doubled its default servicing and loss mitigation workforce since January of 2010.

Between January 2009 and June 2011, Bank of America participated in more than 750 outreach events meeting with about 100,000 customers. During the first half of this year, the company has conducted its own single‐servicer events in 14 cities with more than 14,000 customers in attendance.

During the second quarter, BofA opened 23 new Customer Assistance Centers (CACs), and is in the process of opening another five, bringing the total to 40 in 22 states this summer. These CACs has provided 8,000 distressed borrowers with face‐to‐face counseling.

The company says previously this type of assistance was centralized, but now Making Home Affordable underwriters, processors, and loss mitigation decision-makers are on-site at these centers in local communities. By Carrie Bay, DS News.

Steve Wadkins Realtor®

Nextage Property Solutions

702-281-8288

http://www.LasVegasShortSaleHotLine.com Short Sale Program Is Considered More Tweaks By The Treasury

Wed, 06 Jul 2011 09:58:27 GMT

http://www.LasVegasShortSaleHotLine.com The Treasury Department is considering more changes to the (HAFA) Home Affordable Foreclosure Alternatives program in order to boost short sales and deeds-in-lieu of foreclosure, according to officials administering the initiative.

In May, the Treasury hosted a HAFA summit with representatives from the mortgage industry. They included mortgage servicers, investors, real estate professionals and insurers – the direct stakeholders in a short sale decision.

A Treasury spokesperson said they are looking at making "modest changes and clarifications to program guidance," but no details could immediately be given.

HAFA launched in April 2010 to provide servicers an incentive to boost short sales and DILs for loans that fell out of the larger Home Affordable Modification Program. Through May, participating servicers started 17,781 agreements under HAFA and completed 8,541.

JPMorgan Chase (JPM: 40.25 -1.90%) started nearly one-third of the agreements already in the process.

In January, the Treasury eliminated some HAFA rules that constricted eligibility. For instance, servicers are no longer required to verify a borrower's financial information or determine if the borrower's total monthly mortgage payment exceeds a 31% debt-to-income ratio.

But through April, the top-10 servicers provided more than 113,000 short sales and DILs through their own private programs. That's nearly 10 times the amount of HAFA.

A wider HAFA program could cut into the 2.1 million trial modifications the top-10 servicers denied or canceled due to insufficient documentation, redefault or the borrower was deemed ineligible through April. Roughly 646,000 of these loans received an alternative modification, but servicers started another 307,000 and completed 136,000 foreclosures through April, according to the Treasury.

Write to Jon Prior. Article from Housing Wire Steve Wadkins makes no claim to writing it.

Steve Wadkins Realtor® Nextage Property Solutions

Advanced CDPE “Your Las Vegas Foreclosure Avoidance Team”

702-281-8288

http://www.vegasshortsalehomes.com/ Is Short Sale Really Better than Foreclosure?

Mon, 13 Jun 2011 18:49:39 GMT

http://www.vegasshortsalehomes.com/ Is Short Sale Really Better than Foreclosure?

According to the FICO Banking Analytics Blog there is no difference in how a short sale and foreclosure affects a consumer's credit. This may be true in theory, but the reality is that no two borrowers' situations are exactly alike, and that short sales have consistently had a lesser impact on credit scores than foreclosure.

I've put together a free report that compares short vs. foreclosure so homeowners can make an educated decision about how to proceed when faced with this challenging situation. It can be downloaded at the following site:

http://www.vegasshortsalehomes.com/

If someone you know is thinking about just walking away from an unaffordable mortgage, have them give me a call. I can navigate them through a process to avoid foreclosure and provide for a more stable financial and emotional future.

Call today!

Sincerely,

Steve Wadkins-Realtor®

Nextage Property Solutions Las Vegas

702-281-8288

Nextage Property Solutions Las Vegas #1 For All Your Real Estate

Federal Trade Commission Disclosures

1. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services.

2. The above brokerage is not associated with the government, and our service is not approved by the government, and our service is not approved by the government or your lender.

3. Even if you accept this offer and use our service, your lender may not agree to change your loan.

http://www.WadkinsHomeTeam.com Feeling Trapped by Your Mortgage?

Sat, 28 May 2011 10:26:00 GMT

http://www.WadkinsHomeTeam.com Feeling Trapped by Your Mortgage?

If you or someone you know feels like a prisoner to unaffordable mortgage payments, you should know that education could be the key to financial freedom.

Fortunately, there are those who truly want to help. As a CDPE-designated agent, I am fully compliant with new Federal Trade Commission Regulations safeguarding consumers from mortgage relief fraud.

To assist you in identifying the warning signs that a mortgage relief offer may be a scam, I've created a free report for your review that you can download from the site below:

http://www.vegasshortsalehomes.com/

If you or someone you care about needs relief from an unaffordable mortgage and someone to turn to, please know that I can help and will always work toward protecting your best interests.

You don't have to be a victim of fraud or foreclosure ... call me today!

Sincerely,

“Your Las Vegas Foreclosure Avoidance Team”

Steve Wadkins-Realtor-Certified Distressed Property Expert

Nextage Property Solutions Las Vegas

702-530-4070