HAFA, REALTOR ETHICS, & THE FUTURE OF SHORT SALE FLIPPING

[Tim Silvers]

Does anyone have a clear picture how the HAFA 90-day hold will affect those of us doing double closings and using transactional funding?
http://realestateresult.com/short-sale-rules-will-impact-buyers-starting-april-2010/

And here's yet another anti-flip piece I came across:
http://www.realtor.org/rmolaw_and_ethics/articles/2010/1004_law_shortsalesethics

"4. Selling to a flipper. Unless the investor in a flip is prepared to add substantial value by fixing up a property, don’t participate in a flip. Short sale flips benefit only the investor, who’s clipping off money that could go to an already bleeding lender."
This is just plain anti-trust and totally biased, as my answer lies in the fine print at the bottom of the article; it is no wonder, having been written by an anti-investor, pro-lender. Just plain wrong.

Like we don't already face enough obstacles!

[Scott Hubbard]

HAFA is HAMP repackaged. The Obama administration put HAMP together without knowing a single thing about the lending and securitization laws. Or perhaps they did and passed the legislation anyway since it was a compaign promise. Anyway, the results were dismal because lenders would not cooperate and the process was really a half-hearted attempt.

HAFA is a deal with the devil!! HAFA circumvents laws in many states by avoiding due process and saving lender billions of dollars in foreclosure fees. Not only are they going to save billions in fees, Obama is writing them a check to do it. It is like you getting paid cash to perform your due diligence. Jesus, has anyone in that administration ever owned a small business?

In America you still have options. If you want to give up your legal rights by handing over your house to a lender who has absolutely nothing but contempt for you and in exchange for a mere pittance, then that is your choice.

If your going to save yourself from foreclosure make them short sell. HAFA is a second round of bailout monies and taxpayers are too stupid to or too oblivious to know what is going on. They are taking taxpayer dollars, (several billion more) and giving it to the lenders.

Make them earn their money and do a short sale. Opt-out of HAFA!