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RE/MAX Allegiance 4157 Chain Bridge Road Fairfax, VA 22030
New This Week
Short Sales Get Shorter: New Deadlines to go into Effect
As part of a settlement with state attorneys general, the five largest mortgage servicers are adopting new requirements for short sales, which is expected to speed -up what has been known as a lengthy process.
Here are some of the new requirements for servicers under the settlement:
- Servicers must provide borrowers with a decision within 30 days after receiving a short sale package request. - Servicers will be required to notify a borrower, also within 30 days, if any necessary documents are missing to process the short sale request. - Servicers must notify a borrower immediately if a deficiency payment is needed to approve the short sale. They also
Charlie Bengel, Jr. Chief Executive Officer
must provide an estimated amount for the deficiency payment needed for the short sale. - Servicers are also required to form an internal group to review all short sale requests.
Banks will be considered in violation of the settlement requirements if they take longer than 30 days on more than 10 percent of the short sale requests. Violations can carry fines of up to $1 million and $5 million for repeat offenses.
"If a real estate broker can get a checklist from the bank detailing what documentation is needed, everything can be provided up front, and the bank will be required to give a thumbs-up or a thumbs-down within 30 days,” short sale specialist Chris Hanson with the Hanson Law Firm told HousingWire. “That's not a bad deal.”
Source: “AG Settlement Starts the Clock on Short Sales,” HousingWire (March 14, 2012) via realtor.org.
Sophos Update Sophos anti-virus protection was procured and provided as a free service to all Associates beginning in 2005. Since then, the most of the major cable Internet service providers now offer free anti-virus protection with their subscriptions, which are far superior to Sophos.
For the few of you still using Sophos, beginning April 1, the program will no longer provide updates to your computer. Sophos will, however, still operate and will be able to detect any issues but will no longer detect any new threats or viruses.
Below are links to all three major cable Internet service providers. Also below, we have provided two other links to free anti-virus protection software.
1. Verizon http://www22.verizon.com/Support/Residential/Internet/fiosinternet/general+support/security/questionsone/85302.htm ($6/mo) 2. Cox - http://ww2.cox.com/residential/northernvirginia/internet/cox-security-suite.cox?campcode=goog_internet
CONTACT BY EMAIL
(Free) 3. Comcast - http://xfinity.comcast.net/constantguard/ (Free) 4. Avast - http://www.avast.com/free-antivirus-download (Free) 5. Avira - http://www.avira.com/en/avira-free-antivirus (Free)
--Allegiance Savings Account Next year's R4 convention at the MGM Grand in Las Vegas will mark the 40th anniversary and is sure to be special. Plan to join us and start saving for the trip today! Allegiance will match 10% of whatever you elect to save, up to $200, in your savings account. See your VP of Associate Services to get set up.
--Tom Ferry Coaching Call Next call is Monday the 2nd at Noon: The call in number is 832-225-5213 and the passcode is 11283.
--Got Feedback? Have an idea, comment, compliment or complaint? We want to hear from you. Click here to visit the Allegiance Feedback Box: www.AllegianceFeedback.com
Kudos Corner Congratulations to the following additional Associates who have already achieved Executive or 100% Club this year! Executive Rod Bowden, Fredericksburg Pat Butler, Burke Heather Carlson, Franconia Kim Chamberlain, Dale City Pat Fales, Burke Linda Fox-Jarvis, Virginia Beach Jesse Hagopian, Capitol Hill Bob Hotaling, Leesburg Pike Carol Howell, Georgetown Linda Hughes, Georgetown Ellen Levy, Georgetown Jennifer Meyers, Capitol Hill Michael Miller, Virginia Beach Chrissy O'Donnell, Arlington Casey O'Neal, Leesburg Pike Keri O'Sullivan, Arlington Michael Payne, Lake Ridge Kelvin Reaves, Capitol Hill Judy Reed, Virginia Beach Rex Reiley, Franconia Marguerite Rowland, Burke Sherry Elphick, Franconia Meg Shapiro, Capitol Hill Jake Sullivan, McLean Nate Tate, Capitol Hill Steve Thoman, McLean David Thomas, Capitol Hill
Mary Thyfault Clark, Fairfax Jackie Von Schlegel, Capitol Hill Debbie Wicker, Ashburn
100% Irina Babb, Leesburg Pike Kim Barber, Fairfax Tom Buerger, Georgetown Will Carder, Virginia Beach Patrick Carosi, Leesburg Pike Karla Cornwell, Reston Alan Dalton, Capitol Hill Jeff Ferlazzo, Dale City Ray Gernhart, Leesburg Pike James Nellis, Burke Alex Nova, Virginia Beach Frank Prindle, Old Town Ron Sawyer, Chesapeake George Torres, Leesburg Pike
--Preferred Vendor of the Week: Radon Abatement Services
Radon Abatement Services is a full-service, commercial & residential radon mitigation firm that has been serving the greater DC area since 1998. We have performed more than 6,000 successful radon mitigations in DC, Maryland and Virginia. We pride ourselves on doing better work and providing better, more responsive service than any of our competitors. Radon Abatement Services is certified by both the National Environmental Health Association (NEHA) and the National Radon Safety Board (NRSB).
Phone: (202) 213-6200 Email: email@example.com Website: www.radonrepair.com
---Transactions Last Week: 98 Month to Date: 362 Year to Date: 1171
---Corny Joke of the Week Q. Why did Beethoven get rid of his chickens? A. Because they kept saying Bach, Bach, Bach!
Have kudos to share? Email me at CharlesBengel@remax.net.
Upcoming Education & Social Events 4/4/2012 9:30:00 am Hampton Roads and Richmond Awards Breakfast & Ceremony Chesapeake Marriott
4/5/2012 9:30:00 am Hampton Roads Business Meeting
4/5/2012 10:00:00 am Social Media - Get Connected Franconia Education Center Instructor: Nancy Alert
4/11/2012 10:00:00 am SURVIVOR: The Real Estate Edition Burke Education Center Instructor: Brian Block
4/12/2012 9:00:00 am Rental Listings Done Right Franconia Education Center Instructor: Kim Barber and Cindy Bishop
4/12/2012 10:00:00 am REALTOR, MD: Keeping a transaction alive at all costs (and when to pull the plug) Burke Education Center Instructor: Phil Bolin
4/12/2012 4:00:00 pm Annapolis Happy Hour Metropolitan Kitchen and Lounge Contact: Logan Rush
4/13/2012 10:00:00 AM Roundtable Discussion Franconia Education Center Instructor: Phil Bolin
Register for most classes at www.rmxallegiance.com. See your VP for Associate Services should you have a question about any event or service.
Got feedback? Send it to us here: AllegianceFeedback.com RE/MAX Allegiance is Independently Owned and Operated, headquartered in Fairfax, VA and licensed in VA, MD, DC and NC. Charlie Bengel, Jr. is licensed to practice real estate in Virginia.
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