San Jose Real Estate * REALTOR ® * Richard Gonzalez » Wells Fargo http://Siliconvalleybrokerblog.com Living in the Silicon Valley - News, Views, and Statistics Wed, 21 Sep 2011 01:35:37 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 What you need to know about HAFA in the Silicon Valley http://Siliconvalleybrokerblog.com/2010/04/05/what-you-need-to-know-about-hafa-in-the-silicon-valley/ http://Siliconvalleybrokerblog.com/2010/04/05/what-you-need-to-know-about-hafa-in-the-silicon-valley/#comments Mon, 05 Apr 2010 21:11:17 +0000 Richard Gonzalez http://rgonzalez.blogs.rwnetwork.com/?p=847

Today the banks who signed on for HAMP in 2009 have agreed to increase their participation in HAFA(Housing Affordable Foreclosure Alternatives) an extension of HAMP that provides incentives for banks and servicers to streamline the Short Sale process.

Banks and HAFA

Bank of America for instance partnered with equator.com in November  to decrease the short sale approval timelines from 6 months to 45 days  to conform to the HAFA guidelines. Other lenders Like Wells Fargo are able to approve  23% of the Short Sales they service in 10 days.

What is HAFA?

HAFA will continue to evolve as banks and servicers adopt and implement HAFA rules and guidelines. In the mean time home owners can visit www.whatishafa.org to determine if they qualify for HAFA.

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]]> http://Siliconvalleybrokerblog.com/2010/04/05/what-you-need-to-know-about-hafa-in-the-silicon-valley/feed/ 1 Bank of America and Wells Fargo Short Sale Changes You Should Know About http://Siliconvalleybrokerblog.com/2010/02/15/bank-of-america-and-wells-fargo-short-sale-changes-you-should-know-about/ http://Siliconvalleybrokerblog.com/2010/02/15/bank-of-america-and-wells-fargo-short-sale-changes-you-should-know-about/#comments Mon, 15 Feb 2010 20:15:12 +0000 Richard Gonzalez /?p=740 I week ago I attended the California Association of REALTOR meetings in Indian Wells and attended an open committee meeting with high level managers from Bank of America and Wells Fargo. I added a video describing these changes to my Youtube Channel.

Click on the video below to see my report from the Indian Wells Resort.

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