Comments for John Hall & Associates

Comment on Phoenix Real Estate Market – July 2011 by Christina

Christina — Mon, 22 Aug 2011 00:28:41 +0000

I know it is time to buy! But over two years ago we defaulted on a home loan in hopes that a certain lender (not going to name the Bank of this Country) could help us reduce our payments. It didn’t help so we ended up short selling which took another 13 months until it closed. In a nut shell, we are just now looking at one year of having a short sale under out belts. Now rent has been going up due to the fact that it is becoming a renter’s market. My question…. if we can prove that we can easily make an $1100 monthly rent payment, how can we get a loan on something (even a nice little condo) that would bring our payment down to $700-$800 dollars? Or are we just going to be stuck on the wrong side of the real estate see-saw????? I’ve heard of hard money loans, but is this feasible or are there other options?

Comment on Realty ONE Group Acquires John Hall & Associates by Nick Bastian

Nick Bastian — Tue, 09 Aug 2011 03:19:05 +0000

wow. I didn’t see this one coming. Congrats, to both companies. I have a TON of respect for the work JHA has done in the past, best of luck to ALL of you in the future!

Comment on Freddie Mac Short Sale Addendum by Jim Sexton

Jim Sexton — Mon, 18 Jul 2011 18:56:04 +0000

Here’s an update worth sharing. Saturday I was on a panel @ the Arizona State Escrow Association meeting in Flagstaff. A prior panel was made up of Escrow Company Attorneys and they were discussing various Escrow legal issues, so I decided to ask them about Freddie Macs Short Sale Addendum and whether they thought their Escrow/Title people should be signing it. The answer to the Escrow folks in the room was “Just say NO!” They agreed with me that it’s a bad idea to indemnify the servicer and the lender for the sellers statements. They said to modify the form and resubmit. Great idea that I needed to share with everyone.

Comment on MARS Update – July 2011 by Dru Bloomfield

Dru Bloomfield — Sat, 16 Jul 2011 18:37:41 +0000

Definitely doing the happy dance here! Thanks for letting us know so quickly what the company policy is going forward.

Comment on HomePath® Buyer Incentive: June 14 – October 31 by Gretchen

Gretchen — Sun, 10 Jul 2011 03:52:33 +0000

Hi John, What kinds of costs can the 3.5% be used for? Rate buy down points, prepaids, etc?

Comment on Phoenix Real Estate Market – July 2011 by Shawn Hertzog

Shawn Hertzog — Fri, 08 Jul 2011 23:46:42 +0000

Great News! Now Really is the Time to Buy!

Comment on Freddie Mac Short Sale Addendum by Luis Martinez

Luis Martinez — Thu, 07 Jul 2011 13:58:48 +0000

I’m closing a short sale with BofA and after all the work on the world that implies a short sale, 5 days before closing the file I got hit with this addendum. I check with Freddiemac and they said they do not owe the note for this property , I called BofA and they said they will probable own it later, and that I need it to sign it. my broker is telling me not to sign it. BofA told me “you don’t sign it, we close the file right now”. This is a real dilema I worked 4 months to get this short sale approval and 5 days from closing I get this Addendum that they are obligating me to sign, well not only that, but taking in consideration that I’m making $2,500 on this transaction VS as the paragraph # 13 says if something happends that seller didn’t disclose to me or them, and they find out and sue me; I will be responisble in this case to repay $ 107,000. Do the math, is that worth it?

Comment on Freddie Mac Short Sale Addendum by Jim Sexton

Jim Sexton — Thu, 30 Jun 2011 21:25:08 +0000

I’ve seen Yes and No. Same answer though if the Title Company refuses to sign.

Comment on Freddie Mac Short Sale Addendum by Betsie Melter

Betsie Melter — Thu, 30 Jun 2011 20:54:39 +0000

My question then, is will they allow the transaction to close if you refuse to sign?

Comment on Freddie Mac Short Sale Addendum by Richadr Bazinet

Richadr Bazinet — Thu, 30 Jun 2011 18:22:07 +0000

This is very significant. Thank you for putting it front and center. In some short sales with Wells Fargo and FHA related sales, we have been asked to confirm and sign that the buyer was not related with the seller. However, in this situation, that is pushing it beyond the limit of acceptable. We now become a party to the transaction and the target of legal liabilities.