Stop Foreclosure In Folsom With A Short Sale
I am a Short Sale Listing Specialist in Folsom
and A Sacramento Certified Short Sale Specialist
who likes to write about Short Sales, the new HAFA Government Short Sale Program
and How The Short Sale Process Works
I’m constantly communicating with Struggling and Upside-down homeowners in Folsom
and the entire Sacramento area
about how Short Sales Can Keep Homeowners Out Of Foreclosure,
and Short Sale Information
I talked to two people Today who both called off my website. Both were Struggling Homeowners
who are Upside Down In Folsom.
They both basically asked “How Do I Short sell My Folsom Home?
” Both had questions about HAFA
; how HAFA works
and who is eligible.
One was a man who’s home was already listed as a short sale
with another Realtor. He was wondering about HAFA, the new government short sale program
otherwise known as the treasury’s short sale program
and whether he would qualify For HAFA
– he had heard about it this morning on a news show and was doing some searches on the internet to find out more information on HAFA
and see if he could qualify for the $3,000 in Relocation Assistance
that the HAFA Government Short Sale Program
provides. What I find interesting is that many times, people will fill out a form on my site looking for help, but just as many will simply call me and ask questions.
This man’s lender was Bank of America
, he only had one loan, the home was homeowner occupied (only homeowner occupied qualifies for HAFA
) and he had done a loan modification
, which failed when he lost his job. I told him he was definitely qualified for HAFA
and that he now needed to find out if his investor (the entity that actually owns his note, probably not Bank Of America, but another investor who Bank of America was servicing the loan for)was participating in HAFA. I gave him the number to the BofA Short Sale Department, where he could call in and check to see if his loan’s investor was participating in HAFA. Don’t know how to do this? Call me today and I’ll walk you through it! Every bank is different. Call me at 916-316-3810.
This man’s home had been listed for several months and had been in contract with three different buyers. Another point of frustration for this Folsom Short Seller.
This Folsom Short Seller’s agent had never mentioned HAFA to him or Explained how HAFA worked or the benefits of HAFA .
- So what is the HAMP/ HAFA Program? What about the Second Lien Modification Program (2MP) Or Home Affordable Refinance Program (HARP)? WHICH DO YOU QUALIFY FOR? CHECK YOUR ELIGIBILITY NOW!
He wondered how he could find out it he qualified for HAFA and was kind of upset that his short sale agent had not even mentioned this program even though she knew his situation and that the HAFA Relocation Assistance would really help him out. This man had been in middle management for a huge Construction company and had been out of work for over eighteen months and was just getting ready to move his family to Texas, where he had finally found a job.
The other call was from a nice Folsom Short Sale prospect who had already moved to Texas (seems to be a trend!) and she had sold all but one of her several Sacramento area income properties in 2004 and 2005 and re-bought rentals in Texas. The one property she still had was in Folsom and had been her parents residence (This lady had also lived in Folsom quite close to this property).
She also asked about HAFA and whether she could qualify for it. I told her that HAFA is for homeowners, not investors. We went on to talk and because of her situation, (her husband had just lost his job and she was a long ways upside-down on a monthly cash flow basis) she could do a short sale on investment property. I again told her that HAFA is for homeowner occupied but she could definitely do a traditional short sale on investment property. I explained that WHEN SHE DOES HER SHORT SALE PACKAGE, IF SHE COULD DOCUMENT THAT SHE WAS LOSING MONEY AND COULDN”T CONTINUE, SHE WOULD DEFINATELY BE ABLE TO SELL SHORT. I told her it was a must to state in her hardship letter to the bank, that she couldn’t go on and was looking at either short sale vs foreclosure . I told her that she would definitely be able to do a traditional short sale for this property.
More questions about how to short sell in Folsom? Questions about HAFA? Or just need someone to visit with about your particular situation? Contact us Today At Forth Hoyt’s Sacramento Short Sale Center