When it’s time to sell, you must be confident that every element of negotiating the best terms and the highest price has been set before your home is even listed.
Start with the resources I’ve provided. There is no charge for this information. These will help get you started in terms of assessing your real estate situation and planning for a stress-free and successful sale.
The real estate market in Hampton Roads is volatile, especially lately, and it takes an experienced professional to move your house quickly, professionally, and profitably.
When you’ve decided to sell, I will be your advocate, your guide, and your fierce negotiator. I will work hard to make yours a great sale, no matter how difficult the situation may be!
I look forward to it.
There is big news for homeowners in America. In an effort to slow the rising number of foreclosures, a government-backed program has been released: the Home Affordable Foreclosure Alternatives Program (HAFA). Basically, the program aims to save as many Americans from foreclosure as possible, which also saves the overall value of the surrounding communities.
HAFA offers a $3,000 homeowner incentive for successful short sales or deeds-in-lieu, and also guards the homeowner from harmful lender actions.
With one in six homeowners struggling to make mortgage payments, there is probably someone you know who could use this information.
As a Certified Distressed Property Expert, I am trained specifically on how to assist homeowners dealing with financial hardship. If you or anyone you know needs professional help with foreclosure alternatives, please contact me right away.
I'm here to help you.
What is HAFA- what does it stand for? How do you get it?
What is HAFA - what does it stand for? HAFA stands for - Home Affordable Foreclosure Alternatives. A spin off from the HAMP program which is the loan modification portion of the program. HAFA is set up for the short sale portion of this program.
How do you get it? You ask for it! You go to your mortgage servicer/bank and ask for it. You do not wait for them to come to you. Be proactive! Exercise your option. Avoid foreclosure.
What do you need to get HAFA going?
You must have these going for you....
•1. The property MUST be your principal residence - investors not accepted in this part of the program
•2. Your loan MUST be older than January 1, 2009 - any loan after this date - don't count
•3. You MUST be delinquent or AT RISK - bank will determine "at risk'
•4. Your principal balance MUST be less than $729,750
•5. Your income MUST be 31% more than your mortgage payment
Another MUST... you MUST go to your mortgage servicer/bank and request a loan modification and meet either (one of the following)
- accepted and fail,
- be denied, or
- can't afford the loan modification - so you turn it down
Another note: Your servicer/bank MUST offer you the HAFA if you meet the above. The servicer have 30 days in order to offer you the HAFA program after you meet one of the above.
On December 28, 2010, Making Home Affordable released new HAFA guidelines to enhance the government's short sale program, making it more efficient and less restrictive for distressed homeowners to participate.
The new policies, which are effective February 1, 2011, address changes in the following guidelines:
- Monthly Gross Income Verification
- Vacant Property Requirements
- Release of Subordinate Liens
- Timing for Issuance of Short Sale Agreement
- Timing for Response to Alternative Request for Approval of Short Sale
- Real Estate Brokerage Commissions
- Alternative Deed-in-Lieu Programs
- Borrower Notices Timelines