Short Sale Fraud Fears Grow as HAFA Gets Set to Pop

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How to buy CHEAP REAL ESTATE Deals. Short sales are supposed to be transparent transactions, but some short sale banks encourage the sellers to commit mortgage fraud.They do it openly because the banks don’t seem to care, or perhaps they believe they are above the law. The short sale banks committing mortgage fraud are generally the junior or second lenders.

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LOS ANGELES – Attorney General Edmund G. Brown Jr. today joined the California Department of Real Estate and the State Bar of California to warn homeowners about an alarming rise in short sale fraud across California in a field "rife with scam artists". A short sale is an arrangement in which a homeowner sells his or her home for less than the outstanding mortgage, with the consent of.

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Short Sale Fraud Fears Grow as HAFA Gets Set to Pop HAFA and HAMP (edit/delete). The Treasury Department is now offering a new program supporting the banks on doing short sales with the Home Affordable Foreclosure Alternatives Program (HAFA).This is the latest program under the Home Affordable Modification Program (HAMP), designed to offer.

Monday Morning Cup of Coffee: Obama’s pick to lead HUD a surprise? United Wholesale Mortgage to offer freddie mac 97% LTV loans Mortgages still available despite new rule – In fact, it is possible to get a qualified mortgage with a DTI over 43 percent. That’s because loans approved by the automated systems of Fannie Mae, Freddie Mac and the federal. senior vice.