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Dave Kres
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  • Haverhilll, MA
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I can come up with at least one -- advertising to the world that a property address is a foreclosure/REO and almost certainly vacant increases the likelihood of vandalism and property theft, which is definitely an issue. But I have a funny feeling...
June 9
Great email! There absolutely is not any legitimate reason not to disclosure a property is bank owned.
June 9
Dave Kres added a blog post
I just learned that many REO's -- including Citigroup, Inc. -- are forbidding listing agents from disclosing that a property is a foreclosure listing. I think this is horrible policy and I just send the below email to the Attorney General's office...
June 8
Dave Kres added a blog post
The National Association of REALTORS® recently reported that Federal Housing Administration (FHA) is working on a plan that will permit its lenders to allow homebuyers to use the $8,000 tax credit as a down payment at Closing. Currently, buyers ca...
May 21
Dave Kres added a blog post
On March 19, 2009, the Obama Administration unveiled its new website on its Making Home Affordable Program. The program has two main components: (1) refinancing of Fannie Mae and Freddie Mac loans for borrowers who are current and have loan-to-val...
March 26
What a hip video. I really expected the NSAR president to be a twenthy-something agent. Oh, well. Where are the foster cats? Bert stole the show. And by the way, please let me know whether anyone actually got "stimulated" by the new logo. I don't...
March 23
March 17
So as of March 16th, Freddie Mac hasn't matched the Fannie Mae prohibition on short sale mortgagees on negotiating/reducing real estate commissions... So anyone doing a short sale, make sure to know which GSE-backed insurere (if any) you are deal...
March 16

Profile Information

What is your home-buying status?
Homeowner
If you are in the real estate industry, what do you do?
Real Estate Agent/Broker, Real Estate Attorney

Dave Kres's Blog

Dave Kres

Email to Attorney General's Office

I just learned that many REO's -- including Citigroup, Inc. -- are forbidding listing agents from disclosing that a property is a foreclosure listing. I think this is horrible policy and I just send the below email to the Attorney General's office:

Attorney General Coakley:

I am a licensed real estate broker in Massachusetts that practices exclusive buyer agency (meaning I do not represent Sellers – only Buyers in real estate transactions). Please be advised that it has recently come to
Continue

Posted on June 8, 2009 at 12:45pm — 2 Comments

Dave Kres

$8,000 Tax Credit to be Available for Down-payment?

The National Association of REALTORS® recently reported that Federal Housing Administration (FHA) is working on a plan that will permit its lenders to allow homebuyers to use the $8,000 tax credit as a down payment at Closing. Currently, buyers can only receive the funds once they file their tax return or amend their 2008 return. The Realtor® Association has been lobbying for this change. I was actually at the NAR Midyear Legislative Meetings in Washington, D.C. when HUD Secretary Shaun Donovan… Continue

Posted on May 21, 2009 at 9:55am —

Dave Kres

Making Homes Affordable Program

On March 19, 2009, the Obama Administration unveiled its new website on its Making Home Affordable Program. The program has two main components: (1) refinancing of Fannie Mae and Freddie Mac loans for borrowers who are current and have loan-to-value ratios of 80%-105%, and (2) loan modification for borrowers in default or at imminent risk of default who have high debt-to-income ratios and mortgages with balances of less than $729,750. The new websit… Continue

Posted on March 26, 2009 at 11:00am —

Dave Kres

Fannie Mae & Freddie Mac Release Refinancing Guidelines

The National Association of Realtors® reported that on March 4, 2009, Fannie Mae and Freddie Mac released guidelines on refinancing and loan modification options that implement President Obama's Making Home Affordable Program. The new guidelines provide more flexible refinancing opportunities.

Fannie Mae update

Fannie Mae Announcement 09-04 impleme… Continue

Posted on March 16, 2009 at 3:10pm —

Dave Kres

Freddie Mac’s Rental Initiative

According to the National Association of Realtors®, Government-controlled Freddie Mac is launching a rental initiative which will give former owners and tenants of foreclosed property the opportunity to lease their recently foreclosed properties on a month-to-month.

The REO rental initiative will be managed by HomeSteps, Freddie Mac’s national real estate unit, and implemented through several national property m… Continue

Posted on March 10, 2009 at 9:00am —

Comment Wall (2 comments)

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At 3:33pm on February 27, 2009, April Warren said…
haha good question. my dad just remarried to a malaysian woman so i just put all the new family members under the title: cousin.
At 7:59am on June 4, 2008, Dave Kres said…
Hey, good news for me :)

In the June 2008 issue of Realtor Magazine, I was featured as one of the 30 Most Oustanding Practitioners Under 30.
 
 

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