Another Great Reason To Live In Idaho

Another great reason to live in Idaho. Boise State Broncos 2010 BSC Champions.. Today our beloved Broncos start their march towards the top-BSU 20 VT 17.  As a native Idahoan I have had the opportunity to grow up with what used to be a state college with  blue turf and tail gaiters. Over the years that team has become bigger than that  blue  turf and the tail gaiters have become BRONCO NATION!  Enjoy the video highlights.

Bank of America HPO Short Sale Rules

This is an outline for Bank Of America new HPO (high performance) short sale program. If you are have a B of A loan and have been turned down for or loan modification has not worked please don’t waste anytime and call Josh 208-353-7131 or josh@homeswithjosh.com for your free confidential housing consultation. Look at the new rules below as they are pretty clear. 100% Trained in Short Sales and getting them closed. First Response Team

* Every short sale seller and agent will be assigned a personal advocate who will shepherd the short sale through, using the new, simple process.  Think of this as your own ‘short sale personal representative’.

* No pre-qualifying, no hardship required.  Being upside down in the house IS the hardship.

* No documentation.

* No bank statements.

* No tax returns.

* No financial worksheets.

* No deficiency judgement.

* No financial contribution from the seller of any kind will be requested.

* Only requirements?  -A listing contract -A purchase contract -An appraisal, though we’ve been told the appraisal will not have an adverse bearing on the final acceptance.

* 2 WEEK approvals.

Faster Short Sale Approvals after B of A Insurance Scam

Ever feel like your mortgage servicer or company is just toying with you and your HAMP program- It should be black or white, completely transparent and well let’s admit it– Can I get a loan mod and does it even make any sense if my home is totally upside down (bought at 300k now worth 175k)- Here in Idaho job unemployment rate is still above 9% and not looking to drop drastically anytime soon.  If your loan company is jerking you around please don’t hesitate to call or email Josh with your questions. Idaho’s Best Short Sale Specialist! Read below what the big boys in banking are doing it might make you shake your head–

Bank of America gets caught with their hand in the jar and blames Countrywide.

But doesn’t Bank of America own Countrywide?  Yes!

When Bank of America took over Countrywide in 2008 during the worst housing crash since the Great Depression, according to Bloomberg, BofA absorbed Balboa Insurance.  Essentially, Balboa Insurance…now owned and operated by BofA, is insuring their own bad debt.

What does this mean?  Bank of America’s “Countrywide Loans” that have been defaulted against by homeowners are insured, meaning Bank of America is feeling no pain and actually is gaining from this type of bad debt. Meaning that BofA is in no hurry to sell bad debt.  That’s why there is “Shadow Inventory” and Short Sales are taking so long to approve for sale. There’s no hurry when your making money.

Why Bank of America is gaining on a defaulted loan?  It seems that the Federal Trade Commission (FTC) uncovered ”scamming” on behalf of  “Countrywide” last month.  Remember, Bank of America bought/took over, what ever you want to call it, Countrywide at the Federal Governments request.

What was the scamming?

Countrywide had established Balboa Insurance to cover their home loans gone bad.  In an effort to help defray these losses on bad loans, Balboa Insurance and Countrywide would over charge the now defaulted homeowner for any related services to the default…like mowing the lawns, maintenance of the home, painting, etc…yes, Countrywide in it’s need to make money, charged up to 2 times the amount back to the homeowner for these services.  This is in clear violation to FTC guidelines as it pertains to loan servicing.

So what?

Well, Millions and millions of dollars have been scammed from the clients that they hold a fiduciary responsibility. Kinda like Bernie Madoff screwing his own clients out of their money.   Well, it’s now 2 years later, and Bank of America “Countrywide” division has been caught red handed.  However, no one is being held responsible.  Why?

BofA was helping out the Feds by taking over the Countrywide catastrophe and with that comes immunity.  Above the law stuff…”you do us a favor, no one will suffer.”

Know that BofA has been caught, the new CEO, Brian Moynihan stated earlier this month that they have a “desire” to sell Balboa Insurance.  Desire?  What does that mean?

C’mon…let’s be real.  BofA makes tons of money on bad loans.  That’s why it takes so freakin’ long to get a BofA short sale approved!  That’s why there is “shadow Inventory”!

So what happens next?

As soon as CEO Moynihans “desire” is fulfilled and Bolboa is sold…it should open the flood gates to short sales and release of “shadow inventory”.

It’s good news…however, no one person is held responsible. No one goes to jail.

Do the Feds a “solid” and your protected!

Foreclosures Down And Short Sales Up

Here is an insightful video from  CNBC  and what to expect from the housing market in the months ahead. If you have questions or would like assistance with your home please don’t hesitate to call or email, Josh.

Exiting Home Sales Down

Joshua Groesbeck

208-353-7131 or josh@homeswithjosh.com

www.homeswithjosh.com or www.idshortsale.com

Boise Idaho Quick Facts

*  The greater Boise Valley is comprised of the following fast-growing communities: Boise, Meridian, Nampa, Eagle, Star, Emmett, Garden City, and Caldwell.
* Total Population within a 45-minute draw area: 632,000
* Average Age: 33.1 years
* Average Commute Time: 18 minutes
* Forbes, Wall Street Journal and Inc. Magazine rate Boise as one of the best places in the US to live and work.
* Money magazine rates the Boise Valley as one of the best places to live in the U.S.
* National Geographic Adventure says the Boise Valley is one of the Top 31 Best Live & Play Towns.
* The Boise Valley has a workforce of more than 280,000. Nearly 110,000 of the workforce are degreed workers.
* Workforce within a 45-minute draw area: 330,000
* The overall cost of doing business is nearly a third lower than in California or Washington.
* The cost of living is 96 percent of the national average, and the average cost of a home in the boise Valley is approximately $170,000 compared to a national average of $226,000.
* The Boise Valley is located 430 miles from the seaport terminal of Portland, Oregon; 384 miles south of Spokane, Washington; and 360 miles northwest of Salt Lake City, Utah.
* The airport serves more than 3 million people a year and is less than five miles from downtown Boise.
* Idaho Northern & Pacific Railroad (INPR) provides freight service over four branch lines in southwestern Idaho and northeastern Oregon.
* There have been more patents generated in the Boise Valley than any other region in the country
* Boise and Nampa, Idaho, are ranked as the most secure locations to live in the United States among large metropolitan areas with populations of 500,000 or greater. (Source: Third Annual Most Secure U.S. Places to Live rankings from Farmers Insurance Group of Companies)
* According to the National Census Bureau, Idaho is among the top five fastest growing states in the nation.