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"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.

"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.

Rule Outlaws Advance Fees and False Claims, Requires Clear Disclosures

Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable.

“At a time when many Americans are struggling to pay their mortgages, peddlers of so-called mortgage relief services have taken hundreds of millions of dollars from hundreds of thousands of homeowners without ever delivering results,” FTC Chairman Jon Leibowitz said. “By banning providers of these services from collecting fees until the customer is satisfied with the results, this rule will protect consumers from being victimized by these scams.”

The FTC is issuing the Mortgage Assistance Relief Services (MARS) Rule to protect distressed homeowners from mortgage relief scams that have sprung up during the mortgage crisis. Bogus operations falsely claim that, for a fee, they will negotiate with the consumer’s mortgage lender or servicer to obtain a loan modification, a short sale, or other relief from foreclosure. Many of these operations pretend to be affiliated with the government and government housing assistance programs. The FTC has brought more than 30 cases against operations like these, and state and federal law enforcement partners have brought hundreds more.

Advance fee ban

The most significant consumer protection under the FTC’s new rule is the advance fee ban. Under this provision, mortgage relief companies may not collect any fees until they have provided consumers with a written offer from their lender or servicer that the consumer decides is acceptable, and a written document from the lender or servicer describing the key changes to the mortgage that would result if the consumer accepts the offer. The companies also must remind consumers of their right to reject the offer without any charge.

Disclosures

The Rule requires mortgage relief companies to disclose key information to consumers to protect them from being misled and to help them make better informed purchasing decisions. In their advertising and in communications directed at individual consumers (such as telemarketing calls), the companies must disclose that:

• they are not associated with the government, and their services have not been approved by the government or the consumer’s lender;
• the lender may not agree to change the consumer’s loan; and
• if companies tell consumers to stop paying their mortgage, they must also tell them that they could lose their home and damage their credit rating.

Companies also must explain in their communications to consumers that they can stop doing business with the company at any time, can accept or reject any offer the company obtains from the lender or servicer, and, if they reject the offer, they don’t have to pay the company’s fee. The companies also must disclose the amount of the fee.

Prohibited claims

The MARS Rule prohibits mortgage relief companies from making any false or misleading claims about their services, including claims about:

• the likelihood of consumers getting the results they seek;
• the company’s affiliation with government or private entities;
• the consumer’s payment and other mortgage obligations;
• the company’s refund and cancellation policies;
• whether the company has performed the services it promised;
• whether the company will provide legal representation to consumers;
• the availability or cost of any alternative to for-profit mortgage assistance relief services;
• the amount of money a consumer will save by using their services; or
• the cost of the services.

In addition, the rule bars mortgage relief companies from telling consumers to stop communicating with their lenders or servicers. Companies also must have reliable evidence to back up any claims they make about the benefits, performance, or effectiveness of the services they provide.

Attorney exemption

Attorneys are generally exempt from the rule if they meet three conditions: they are engaged in the practice of law, they are licensed in the state where the consumer or the dwelling is located, and they are complying with state laws and regulations governing attorney conduct related to the rule. To be exempt from the advance fee ban, attorneys must meet a fourth requirement – they must place any fees they collect in a client trust account and abide by state laws and regulations covering such accounts.

All provisions of the rule except the advance-fee ban will become effective December 29, 2010. The advance-fee ban provisions will become effective January 31, 2011.

The FTC rulemaking proceeding was conducted pursuant to Congressional legislation sponsored in 2009 by Senators Jay Rockefeller and Byron Dorgan. The Final Rule applies only to entities within the FTC’s jurisdiction under the Federal Trade Commission Act, which excludes, among others, banks, savings and loans, federal credit unions, common carriers, and entities engaged in the business of insurance. In June 2009, the FTC issued an Advance Notice of Proposed Rulemaking seeking comment on the practices of for-profit mortgage relief companies. In February 2010, the FTC announced a Notice of Proposed Rulemaking and sought comments from interested persons, including advocates for consumers, the business community, and the legal profession.

Click here for facts about mortgage consumers’ rights.

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them.  To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357).  The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,800 civil and criminal law enforcement agencies in the U.S. and abroad.  The FTC’s website provides free information on a variety of consumer topics.

MEDIA CONTACT:

Office of Public Affairs
202-326-2180

STAFF CONTACT:

Laura Sullivan or Evan Zullow
Bureau of Consumer Protection
202-326-3224

(MARS)
(FTC File No. R911003)

"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.

	4481507 Residential Townhouse Active
	Beds/Baths: 3 / 2 SF: 1,852 / County Assessor Year Built: 1997 Pool: Community EF: 32RDX2G Approx Lot SqFt: 223 / County Assessor Apx Lot Size Range: 1 – 7,500 Level: Two Levels Dwelling Type: Townhouse	Subdivision: CANTERRA AT SQUAW PEAK CO Tax Municipality: Phoenix Marketing Name: Planned Cmty Name: Model: GENOA Builder Name: unknown Hun Block: 8000 N Map Code/Grid: N34 Bldg Number:
	Ele Sch Dist: 038 – Madison Elementary District Elementary School: Madison Heights Jr. High School: Madison #1	High School Dist #: 210 – Phoenix Union High School District High School: Camelback

"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.

	4375548 Residential Single Family – Detached AWC-Contingent Offers
	Beds/Baths: 3 / 2.5 SF: 2,230 / County Assessor Year Built: 2003 Pool: None EF: 32.5FRDO2G Approx Lot SqFt: 4,500 / County Assessor Apx Lot Size Range: 1 – 7,500 Level: Two Levels Dwelling Type: Single Family – Detached	Subdivision: Dove Valley Ranch Tax Municipality: Cave Creek Marketing Name: Planned Cmty Name: Model: Unknown Builder Name: Unknown Hun Block: 34000 N Map Code/Grid: G36 Bldg Number:
	Ele Sch Dist: 093 – Cave Creek Unified District Elementary School: Black Mountain Jr. High School: Desert Arroyo	High School Dist #: 093 – Cave Creek Unified District High School: Cactus Shadows

"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.

	4433572 Residential Single Family – Detached AWC-Contingent Offers
	Beds/Baths: 3 / 3 SF: 2,832 / County Assessor Year Built: 2001 Pool: Private EF: 33FRXPO3G Approx Lot SqFt: 8,768 / County Assessor Apx Lot Size Range: 7,501 – 10,000 Level: Two Levels Dwelling Type: Single Family – Detached	Subdivision: Sage Creek Tax Municipality: Avondale Marketing Name: Planned Cmty Name: Model: Builder Name: Wllliam Lyon Homes Hun Block: 3600 N Map Code/Grid: P29 Bldg Number:
	Ele Sch Dist: 079 – Litchfield Elementary District Elementary School: Corte Sierra Jr. High School: Wigwam Creek	High School Dist #: 216 – Agua Fria Union High School District High School: Millennium

Listed by: HomeSmart (cril08)

"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.

	4448570 Residential Single Family – Detached Active
	Beds/Baths: 3 / 2.5 SF: 1,593 / County Assessor Year Built: 1994 Pool: None EF: 32.5R2G Approx Lot SqFt: 4,245 / County Assessor Apx Lot Size Range: 1 – 7,500 Level: Two Levels Dwelling Type: Single Family – Detached	Subdivision: Candle Creek Tax Municipality: Phoenix Marketing Name: Planned Cmty Name: Model: Builder Name: Unkown Hun Block: 17500 N Map Code/Grid: K34 Bldg Number:
	Ele Sch Dist: 069 – Paradise Valley Unified District Elementary School: Echo Mountain Jr. High School: Vista Verde	High School Dist #: 069 – Paradise Valley Unified District High School: North Canyon

"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.

	4449057 Residential Townhouse Active
	Beds/Baths: 2 / 1 SF: 1,060 / County Assessor Year Built: 1979 Pool: Community EF: 21R1C Approx Lot SqFt: 775 / County Assessor Apx Lot Size Range: 1 – 7,500 Level: Two Levels Dwelling Type: Townhouse	Subdivision: Pointe Tapatio Tax Municipality: Phoenix Marketing Name: Planned Cmty Name: Model: Court Home Builder Name: Gosnell Hun Block: 900 E Map Code/Grid: M34 Bldg Number:
	Ele Sch Dist: 006 – Washington Elementary District Elementary School: Sunnyslope Jr. High School: Royal Palm	High School Dist #: 205 – Glendale Union High School District High School: Sunnyslope

Listed by: HomeSmart (cril08)

"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.

The beginning to mid year term of 2010 drove a slight price recovery in AZ, unfortunately because of the underlying economic stress in az with 10% unemployment and a national average of 20-30% underemployment, home default will continue and has accelerated.  I am seeing an errosion of the price improvement spurred by buyer incentives, and unfortunately the prospect of further price declines look likely as inventory rises.

The following is a typical BPO that I am producing in AZ, I have taken key information pieces to share with you all.

If you would like to enquire about our services and our high quality bpo’s please contact me.

I am performing at high accuracy with less than 3% variance BPO V Sale price.

BPO Name 1066 S 238th Dr

Automated Valuation $ $120,161

Property 1066 S 238th Dr, Buckeye, AZ 85326

BPO High $ $104,000

Status Pre-List

BPO At Market $ $80,000

BPO 30 Day Sale $ $77,000

Value Range in Neighborhood 49500-297500

Market Trend – Fannie Mae Value – Declining

Avg Days on Market 88

Market Trend – % Change +/- -0.54%

Cromford Reports Tax Data Trend: values now compared to about a year ago are the same, however during the last year there was some price recovery that was eroded over the past few months with increasing inventory levels. Absorption rates are now at (17.45%) this represents a 5.7 month of supply which has been increasing over demand levels sharply for the last 3 months.

The decline value of -.54% only reflects the price differential compared to a year ago, however this could skew the interpretation as values are likely to drop as inventory continues to rise.

Total Units in Neighbourhood Subdivision 1,830

Neighborhood Standard Subject Conforms to N’hood

Non Owner Occupied 1,004

Subject condition Good – Well Maintained – Minor Repairs

Neighborhood Rent – Non Owner Occupant 55%

Indicative Data: Zillow Information Summary

1066 S 238th Dr
Buckeye, AZ 85326
3  beds, 2.0 baths 2,469 sq ft
ZESTIMATE® : $108,500
Value Range: $84,630 – $118,265
Sold 11/14/2006: $340,000
Zestimate® updated: $108,500
See more home details on Zillow.com

See more graphs and data on Zillow.com

Comparables… Sold Price Sold On Sq Ft 23381 W Twilight Trl $169,900 09/01/2010 1,443 23288 W Arrow Dr $175,000 08/17/2010 1,546 24157 W Twilight Trl $99,500 04/08/2010 2,154 23807 W Hadley St $67,000 07/23/2010 1,298 23820 W Desert Bloom St $79,000 10/30/2009 1,681

See more comparable homes on Zillow.com

© Zillow, Inc., 2008. Use is subject to Terms of Use | What’s a Zestimate?

BPO Information

Property is favourably located to retail stores, highway access and local school. School is walking distance from house via back non main road access streets. Neighborhood is showing signs of distress with multiple properties in foreclosure and nearing foreclosure.

"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.

AZHome Teams, negotiation excellence and foundation to secure short sale success is built on advanced negotiation training spanning two decades.  Our training includes the prestigious Karrass School , The London Commercial Business School, experience in negotiating contracts to $500MM+ and more.  All of which was for blue chip organizations AND CLIENTS  in the US and Europe.  We have negotiated many different foreclosure avoidance contracts for families in hardship, to secure the best possible terms agreeable to the lender.

"The Holman Group - HomeSmart is not associated with the government, and our service is not approved by the government or your lender; Even if you accept this offer and use our service, your lender may not agree to change your loan.