Bryan Dais's (bryanldais) Blog

According to Senior Vice President for Freddie Mac, Tracy Mooney, the new guidelines should cut the time required to process a short sale on a Freddie Mac loan by 50 – 75%. In a recent article on her Executive Perspectives blog the SVP described the new Freddie Mac Standard Short Sale program as ...

  Bank of America came out with the Cooperative Short Sale Program to help Distressed Homeowners complete a short sale if they owe more on their mortgage than their house is worth and do not qualify for the Home Affordable Foreclosure Alternatives (HAFA) short sale program. Similar to HAFA, but w...

HUD has been hit as hard as anyone in the distressed housing market over the past few years, and we can see the effects in multiple changes to FHA loan requirements and guidelines in recent years. HUD (U.S. Department of Housing and Urban Development) insures all FHA loans and guarantees the lend...

Unaffordable mortgage payments can make your house feel more like a cage than a home. A person in this situation can feel trapped because it is hard to know what to do. The main thing is to not give up. In reality you do not have to be a prisoner in a mortgage you can no longer afford. There are ...

Colorado dropped to number 10 in the Nations ranking among states with the most Foreclosure activity according to the Denver Business Journal. Down from the number 7 spot this time about a year ago. Good news for Colorado Homeowners, but we’ve got a ways to go. The figure that concerns me more, a...

…and Options You May Not Have Considered For someone who is considering declaring bankruptcy it may feel like the whole world is upside-down, when in reality it is only the mortgage on their home that is upside-down. “Individuals considering bankruptcy are too wrapped up in the emotions of the si...

  "Should I stay, or should I go now?" A question many distressed homeowners are asking every day is, “Should I Short Sale my home? Try to stick it out? or Let it go to Foreclosure?” The decision to stay with an over mortgaged home or go on to a fresh start is complicated. The complications inclu...

The Myths and Misrepresentations of Strategic Defaults   Millions of Homeowners today find themselves in a situation where they owe more on their home than it is worth. Researchers have found that some homeowners begin to default when their negative equity hits 10% of the loan amount and they be...

  Choosing a real estate agent is an important decision! If you’re pursuing a short sale, selecting the right agent is even more critical than a traditional Real Estate Transaction. Short sales require specific knowledge and expertise that not all real estate agents possess. Just as your agent is...

As I am out and about talking to Homeowners struggling with their mortgage payment I find there is a lot of misinformation about what it takes to qualify for a short sale. While there can be additional requirements based on specific circumstances there are 3 major items that most lenders are loo...