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CRT Presents New iPhone App at Leadership Summit : Speaking of Real Estate

CRT Presents New iPhone App at Leadership Summit : Speaking of Real Estate.

What’s the best smartphone on the market?

This is one of the most common questions fielded by NAR Chief Technology Officer Mark Lesswing. He, along with Keith Garner, vice president of NAR’s Information Technology Services, Chris McKeever, managing director, Center for REALTOR® Technology (CRT), and Rob Mehta, 2011 Liaison for Technology, presented the latest technological advanced NAR is offering members at the 2010 Leadership Summit Geek Speak and Gadget Review panel in Chicago Thursday.

Northstar-riding the rails

This weekend I got a chance to ride the new Northstar line for the second time, the first time being just a week ago and taking the evening train into downtown to catch a movie at Block E. All I have to say is-it’s about time. After being milleniums behind just about every major metro on earth, the Twin Cities finally has the start of a true commuter rail system. I say that it’s the start mainly because this is a one-line system only, currently running from Big Lake to the new Target Field in downtown Minneapolis. The train makes the journey in about 50 minutes. The service itself is great, the train ran on-time, and of course being new equipment was a pleasure to travel on. The cars are double-decker and feature club seating, as well as power points and work tables on each set of seats on either end of each car. The current downside to the service, besides it’s limited route-service only runs several times each morning and evening rush hour, with special trains for events such as the Holidazzle in downtown Minneapolis, and Twins and possibly Vikings games. If your schedule doesn’t jive with the trains, you are SOL.

Treasury Department Announces Program to Streamline Short Sales

On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is component of the Home Affordable Modification Program (HAMP). NAR has been urging the Obama Administration to take action to address the many problems with short sales.

HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure of a loan eligible for modification under the HAMP program. HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which will issue their own versions in the coming weeks. Program features include: pre-approving sales terms before listing the property, prohibiting servicers from requiring reductions in real estate commissions that do not exceed 6 percent, paying incentives, releasing borrowers from future liability for the unpaid portion of the first mortgage debt, and imposing deadlines at each stage.

The program does not take effect until April 5, 2010, but servicers may implement it before then if they meet certain requirements. The program sunsets on December 31, 2012.

From REALTOR.com Visit www.realtor.org/shortsales for more information on the HAFA program

Welcome!

Welcome to the blog of rob mehta+partners. Here you will find all sorts of useful, and maybe some useless stories of what is happening with real estate and other things in our working cities of Minneapolis, Bangkok, and elsewhere. We welcome your suggestions and comments, and we hope you enjoy it and will come back often!