Folsom Short Sale Agent Answers: Who Owns My Loan? Fannie Mae or Freddie Mac?

Forth Hoyt — Sun, 08 Apr 2012 14:53:33 +0000

Who owns your loan Fannie Mae or Freddie Mac? How do I find out who owns my loan?

As a Sacramento Short Sale Specialist and a Multi-Certified Short Sale Negotiator, there are several tools we use nearly every day here as Folsom short sale Specialists at The Sacramento Short Sale Center, in our research of the mortgages in the short sale files we are negotiating.

One example are the easy quick links that Fannie Mae and Freddie Mac have provided for homeowners to look and see if they are tho owners of their note, or are the “investor”. Loan modification and short sale guidelines and policies are very, very investor and servicer specific, so it is a very good idea to know who it is we are dealing with.

You know, loans are bought and sold every day, some times several times during the length of a loan. It is also becoming more and more common for loans that have gone late, or even defaulted loans to be sold just before or during the foreclosure process.

Some estimates are that somewhere between 80% to 90% of home loans are now owned by Fannie Mae and Freddie Mac, so most short sale and loan mod deals are processed according to their guidelines… I Use these links nearly every day, finding out who owns the loans (who the “investor” is) on the home loans I am negotiating short sales on.

Loan modification and short sale guidelines and policies are very, very investor and servicer specific, so it is a very important for us to know who it is we are dealing with.

So who owns your loan Fannie Mae or Freddie Mac?

So what do we do if they are not Fannie Mae or Freddie Mac? We have a form signed (we got the form from one of the first Short Sale Certification Courses I took). The Form provides written request from the seller. Federal law states that a servicer must tell the homeowner within 21 days of receiving such written request who the investor is on therir note. So if it is not Fannie or Freddie, the very same day we take the listing we mail the form to the the bank.

It does happen frequently that we get an offer and start negotiating with the bank before they respond to our written request. One of the earliest strategies I learned from one of my first Short Sale Specialist courses, was to just ask the bank, every time, we always ask… “so. who owns this note? …who is our investor?” , “so this isn’t Fannie or Freddie; so who is it?” or “who’s guidelines is this file being managed under?” every single time we get on the phone with them (twice per week).

Servicers train their staff not to tell us; they usually say “sir that request may only be made in writing by our customer” but by asking every single time, usually we can get someone to just slip and tell us, or luck out and get a new employee who forgets they aren’t suppose to tell us…

More questions on your situation? Everybody’s is different, how can we help? Ask a Short Sale Specialist! Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

El Dorado Hills Short Sale Information By Short Sale Specialist

Forth Hoyt — Sat, 24 Mar 2012 20:58:22 +0000

HAFA Specialist Forth Hoyt Explains HAFA Short Sale's Cash For Keys Program

As an El Dorado Hills Certified HAFA Specialist, I frequently answer Questions About Cash For Keys with HAFA’s Short Sale Program , And The HAFA Update And Extension And Extension:

SHORT SALE YOUR HOME WHILE STILL CURRENT! NO “HIT” TO YOUR CREDIT

Many homeowners feel they really have nowhere to get El Dorado Hills Short Sale Information. I have been talking with a past client here in El Dorado Hills, CA about their options to stop foreclosure on their home. They have been in constant contact with their bank for the past several months, trying their best to stay in their home; they have tried unsuccessfully to do a loan modifcation. The bank has turned them down.

Do you have one lender? Two? Even three? They all must be participating in HAFA! Do You Qualify?

Let’s find out! Call us today- 916-316-3810

Give us five minutes, we can find out whether you are eligible for HAFA’s Recourse protection and HAFA’s $3,000 In Cash For Keys (Relocation Assistance)

They know I am a Certified HAFA Specialist, so they contacted me about the new HAFA program, which has been extended and updated recently. Of course the first thing they asked was “Am I Eligible For HAFA?”.

We quickly found out that they were indeed qualified and I started the paperwork for their HAFA Short Sale Cash For Keys: $3,000 To The Homeowner immediately. . After months of stress in trying to stay, they said they are relieved now to understand the Government HAFA Short Sale Program and how easy it is to do a HAFA short sale on their El Dorado Hills home.

As a Certified El Dorado Hills, CA HAFA Specialist, I answer many questions about HAFA Short Sale Cash for Keys to El Dorado Hills sellers. And Now that the Treasury has updated the HAFA Short Sale guidelines; HAFA Extension and Update, Homeowners do not need to live in the home and can even still be current! (most investors/servicers require homeowners to be behind in payments in order to qualify for a Successful Short Sale in El Dorado Hills).

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

Folsom, CA Certified HAFA Specialist Explains New HAFA

Forth Hoyt — Wed, 21 Mar 2012 12:38:09 +0000

Folsom HAFA Update! No Longer Must Live In Home, Can Be Current!

HAFA IS HOT! As a Folsom, CA Certified HAFA Specialist and Folsom Certified HAFA Short Sale Specialist I am getting at least five calls per week: Am I Eligible For HAFA? What are the HAFA Eligibility Requirements?

URGENT HAFA UPDATE!!

SHORT SALE YOUR HOME WHILE STILL CURRENT! NO “HIT” TO YOUR CREDIT!

Do you have only one loan? Do you have two or even three loans? Each Servicer/Investor (who service and own your loan) must be Participating in HAFA-

Find out if you are eligible! Hurry! Call me today- 916-316-3810. In five minutes we can find out whether you are eligible for HAFA’s Recourse protection and HAFA’s $3,000 In Cash For Keys (Relocation Assistance)

Questions On Your Particular Situation? Do Not Wait!! Time Is Of The Essence! The Foreclosure Process and California Foreclosure Timelines And California Short Sale Timelines are ticking away!

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center. Folsom, CA Short Sale Expert and Certified HAFA Short Sale Specialist Forth Hoyt Can Help You Determine Your Eligibility for HAFA Short Sale Program!

ElK Grove, CA HAFA Specialist Explains New HAFA

Forth Hoyt — Sun, 18 Mar 2012 17:28:26 +0000

HAFA Cash For Keys $3,000

HAFA IS HOT! As an Elk Grove HAFA Short Sale Expert and Elk Grove CA Certified HAFA Short Sale Specialist I am getting at least five calls per week: Am I Eligible For HAFA? What are the HAFA Eligibility Requirements?

URGENT HAFA UPDATE!!

SHORT SALE YOUR HOME WHILE STILL CURRENT! NO “HIT” TO YOUR CREDIT!

Do you have only one loan? Do you have two or even three loans? Each Servicer/Investor (who service and own your loan) must be Participating in HAFA-

Hurry! Call me today- 916-316-3810. In five minutes we can find out whether you are eligible for HAFA’s Recourse protection and HAFA’s $3,000 In Cash For Keys (Relocation Assistance)

Questions On Your Particular Situation? Do Not Wait!! Time Is Of The Essence! The Foreclosure Process and California Foreclosure Timelines And California Short Sale Timelines are ticking away!

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

Elk Grove, CA Short Sale Expert and Certified HAFA Short Sale Specialist Forth Hoyt Can Help You Determine Your Eligibility for HAFA Short Sale Program!

Roseville,CA HAFA Extension and Update ALERT

Forth Hoyt — Sat, 17 Mar 2012 21:37:08 +0000

Certified HAFA Specialists Are Trained To Close Your HAFA Short Sale in Roseville, CA! Roseville Certified HAFA Short Sale Specialist Forth Hoyt reports Roseville HAFA Extension and Update.

Breaking News!! SHORT SALE YOUR HOME WHILE STILL CURRENT! NO “HIT” TO YOUR CREDIT! Short Sale and Stay Current!!

The Roseville, CA Real Estate Market has become a Short Sale Hotbed… HAFA is making Short Sales Easier! Roseville HAFA Certified Short Sale Specialist and Expert HAFA Short Sale Negotiator Forth Hoyt Explains The Benefits Of HAFA.

A moving, evolving and improving system; The HAFA Short sale Program is definitely getting better and better, moving towards becoming the solution it was supposed to be when it was first rolled out.

Are you eligible? Find out in Five Minutes!! 916-316-3810

Or Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

You see, the HAFA Government Short Sale Program was created in the wake of a Failing HAMP loan modification program which is only providing less than 5% of its applicants with any type of successful modification.

…and of those 4% of homeowners that are successful, less than 3% ever receive any type of principle reduction to their loan

-so less than 1 in 100 loan modification applicants get what they need as far as a long term, sustainable solution…

So you can see why the government had to step in and attempt to set up a program that would streamline and systematize the very hard to manage and difficult Short Sale Process.

HAFA is a last-ditch effort to keep homeowners out of foreclosure, after failing a loan modification attempt.

Designed by the Administration and funded by the Treasury, The HAFA Program, which took effect April 5, 2010, provides servicer, seller and Investor (whoever actually owns the note) benefits.

When HAFA was first introduced, these servicer, seller and lien holder incentives were touted as being designed to simplify and streamline the use of short sales and deeds-in-lieu of foreclosure. A great deal of hoopla and fanfare over the new program made it sound like the HAFA program was going to be the short sale Garden of Eden.

What a joke-

What are the HAFA Benefits? Can I Do A HAFA Short Sale in Roseville? How Do I get Started Doing HAFA? Who Can Help Me Do HAFA?

At first I was personally talking sellers out of using HAFA because I’d had several terrible experiences with the program, so even though I was one of the very first HAFA Certified Agents in the Roseville CA Area, I would steer my clients away from it because it was a waste of time and in our declining market, it nearly guaranteed that the homeowner would end up with a foreclosure on their credit-

However, in the last several months there have been major changes to the HAFA program and the way it is being administered and currently I have six HAFA short sales that are moving along nicely and look forward to an approved HAFA short sale in just a few days.

Am I Eligible for HAFA? FIND OUT! I am a Certified HAFA Expert-

Am I Eligible For HAFA? We can find out in Five Minutes!! Call me Right Now! 916-316-3810

or Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

SHORT SALE YOUR HOME WHILE STILL CURRENT! NO “HIT” TO YOUR CREDIT!

Forth Hoyt — Sat, 17 Mar 2012 18:22:46 +0000

Certified HAFA Short Sale Specialist Forth Hoyt Reports a HUGE HAFA UPDATE ! HAFA has not only been extended, it has also been updated! It has now been extended a full year, to the end of 2013 and you don’t have to be living in your home! And You Don’t Have To Be Late!!

I am a Certified HAFA Expert-

Am I Eligible For HAFA? We can find out in Five Minutes!!

Call me Right Now! 916-316-3810

or Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

Am I Eligible For HAFA?

Forth Hoyt — Sat, 17 Mar 2012 17:49:14 +0000

HAFA Cash For Keys $3,000

HAFA IS HOT! As a Sacramento, CA Short Sale Expert and Certified HAFA Short Sale Specialist I am getting at least five calls per week: Am I Eligible For HAFA? What are the HAFA Eligibility Requirements?

Do you have only one loan? Do you have two or even three loans? Each Servicer/Investor (who service and own your loan) must be Participating in HAFA-

Call me today- 916-316-3810

In five minutes we can find out whether you are eligible for HAFA’s Recourse protection and HAFA’s $3,000 In Cash For Keys (Relocation Assistance)

Questions On Your Particular Situation? Do Not Wait!! Time Is Of The Essence! The Foreclosure Process and California Foreclosure Timelines And California Short Sale Timelines are ticking away!

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

Sacramento Short Sale Expert and Certified HAFA Short Sale Specialist Forth Hoyt Can Help You Determine Your Eligibility for HAFA Short Sale Program!

HAFA Short Sale Cash For Keys: $3000 To The Homeowner!

Forth Hoyt — Sat, 17 Mar 2012 17:27:20 +0000

HAFA Specialist Forth Hoyt Explains HAFA Short Sale's Cash For Keys Program

As a Sacramento Area Short Sale Specialist And Successful HAFA Short Sale Negotiator, I get many questions about the Short Sale Cash For Keys Program that is an important part of the HAFA Short Sale Prograam. Many homeowners frequently contact me to ask “Am I Eligible for HAFA?” …usually people hear about HAFA on the news or radio but have a hard time finding HAFA Program Information to learn about the HAFA Short Sale Cash For Keys: $3000 To The Homeowner! “How can I qualify for the $3000 From HAFA?”

HAFA Allows for $3,000 to the homeowner after the short sale has been completed (and transaction has closed and recorded). It is called “Short Sale Relocation Assistance“, but should be called “Relocation Expense Reimbursement“, because the bank or servicer only pay you AFTER you move and the short sale closes!

You may be asking: How can I find out: Am I Eligible For HAFA? We could quickly find out; but first of all, we need to find out which HAFA may be applicable: there are Three Distinct HAFA Programs The Treasurie’s HAFA, for all non GSE investors, there is also a Fannie Mae HAFA and a Freddie Mac HAFA. Does Fannie or Freddie Own My Loan? All have different qualifying requirements but all have the same benefits, NO recourse and $3,000 in relocation assistance to the borrower (short sale homeowner).

What if neither own your loan? a quick phone cal from you will determine whether your ‘Investor” is participating in HAFA!

Allow us to help! We can quickly do a conference call with you and your bank and determine within 5 minutes whether you qualify!

Call Forth Hoyt at 916-316-3810 or Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

Here are some other helpful Links that might help:

Making Home Affordable Program
Request For Mortgage Assistance (RMA)

Other Key Elements of HAFA

• In a HAFA short sale, your mortgage company works with you to
determine an acceptable sale price upfront.
• If a HAFA short sale doesn’t work, you may be able to give the title back
to your mortgage company in a HAFA deed-in-lieu of foreclosure (DIL).
• Once you complete a HAFA short sale or DIL, you must be completely
released from your previous mortgage debt.
Here’s another link to the HAFA Program Information at http://www.makinghomeaffordable.gov

HAFA Homeowner Information

HAFA Specialist in Sacramento, CA Reports HAFA Extension and Update

Forth Hoyt — Sat, 17 Mar 2012 02:28:42 +0000

Sacramento CA Certified HAFA Short Sale Specialist Forth Hoyt

HAFA Extension and Update: HAFA short sale program has now been extended through December 31, 2013. Read about the Sacramento CA HAFA Short Sale Program and Archive for the ‘HAFA GUIDE AND HAFA NEWS’ Category.

HAFA Short Sales in Sacramento, CA are increasing and HAFA guidelines have become the benchmark for negotiating second loans in short sales.

If you upside-down on your Sacramento mortgage and are in need of a short sale and qualify for the HAFA Short Sale program it can be of great benefit to you. It allows the seller to receive up to $3,000 for moving expenses upon completion of the short sale, (HAFA cash for keys) called relocation assistance.

In 2009, the United States Treasury Department enacted the HAFA Short Sale program to put forth a viable solution for Sacramento Homeowners who are no longer able to afford their mortgage payments or keep their homes through the already established Home Affordable Modification Program (HAMP). The HAFA short sale program went into effect on April 5, 2010 and was set to expire on December 31, 2012. However due to overwhelming public outcry the HAFA short sale program has now been extended through December 31, 2013.

Servicers participating in HAMP are required to comply with the HAFA Short Sale Program. A list of servicers participating in HAMP (including HAFA) is available at: MakingHomeAffordable.gov
HAFA also provides incentives in connection with a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. HAFA’s Deed in Lieu is available to homeowners only after the home has been listed for a minimum of 90 days as a short sale and failed to sell.

So How Does the HAFA Short Sale Program Help Me?

Who qualifies for the HAFA short sale program?

The HAFA Short Sale program is only available for owner occupied properties. In addition, the unpaid balance owed to the bank must be less than $729,750. Finally, if you have 1 or more lenders, all lenders, banks and lien holders must agree to fully participate in the HAFA . The lender(s) have a right to deny participation in the program on any file.

Are you in Folsom, Granite Bay, El Dorado Hills, Natomas, Roseville, Elk Grove, Mather, Lincoln, Rocklin, or any other Sacramento area? We really are here to help!

More Questions About your Situation? Talk To A Certified Foreclosure Prevention Expert Today!

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

Find if you qualify for your 1st or 2nd Lien Modification Program (2MP) harp

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Forth Hoyt — Tue, 13 Mar 2012 19:41:25 +0000

Forth Hoyt Authorization to Release Information

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Folsom Short Sale Agent Answers: Who Owns My Loan? Fannie Mae or Freddie Mac?

El Dorado Hills Short Sale Information By Short Sale Specialist

Folsom, CA Certified HAFA Specialist Explains New HAFA

ElK Grove, CA HAFA Specialist Explains New HAFA

Roseville,CA HAFA Extension and Update ALERT

SHORT SALE YOUR HOME WHILE STILL CURRENT! NO “HIT” TO YOUR CREDIT!

Am I Eligible For HAFA?

HAFA Short Sale Cash For Keys: $3000 To The Homeowner!

HAFA Specialist in Sacramento, CA Reports HAFA Extension and Update

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