Jonathan Osman, The Charlotte House Hunter Group - Keller Williams Realty
Bank of America has started reaching out to homeowners in distress to offer them an incentive as a part of their HAFA or Cooperative Short Sale program. The Bank of America Cooperative short sale program isn’t new however this the first time in its existence that it has been heavily promoted. The good news is [...]
The HAFA (Home Affordable Foreclosure Alternative Program) Short Sale program is designed to help homeowners facing foreclosure to “exit gracefully.” There are three different versions of the HAFA Program and the category that you fall into is determined by who is actually the investor behind your mortgage: 1. Private Investors (Hedge Funds, Banks, etc), 2. [...]
The latest con/scheme/scam out involves homeowners facing foreclosure and so-called “investors” who will negotiate a short sale on their behalf. These people approach the homeowner either via letter, phone call, or even through their agent and they typically have the term “solutions” in their name. Here’s the pitch: I want to make an offer on [...]
The following documents are needed for your Wells Fargo or Wachovia Short Sale. Traditional Short Sale Files (First or Second Mortgage Short Sales): Last 2 months bank statements for all accounts Last 2 pay check stubs If unemployed, unemployment benefits letter (if receiving benefits) or letter stating employment situation If self employed, 90 day Profit [...]
A mortgage loan modification is an adjustment in your interest rate and payment terms to assist you in keeping your home. Much like with a short sale, you will need to have a proven hardship in order to obtain a modification. Unlike a short sale, you will also need to have sufficient income in order [...]
On November 30 2009, the Treasury Department released it’s guidelines to improve and standardize the short sale process called “Home Affordable Foreclosure Alternatives – Short Sale and Deed-in-Lieu of Foreclosure”. While the guidelines can be read in their entirety on the Making Home Affordable website, here are the program highlights: This Making Home Affordable ” [...]
