What is driving buyers to buy properties in today's market?

Home Affordable Foreclosure Alternatives (HAFA)
Program. If you can't afford your mortgage payment and it's time for you to transition to more affordable housing, the Home Affordable Foreclosure Alternatives (HAFA) program is designed for you. Unlike conventional short sales, a HAFA short sale completely releases you from your mortgage debt after selling the property. This means you will no longer be responsible for the amount that falls "short" of the amount you still owe. The deficiency is guaranteed to be waived by the servicer.
You may even qualify for relocation assistance.                

Now it is up to you, if you want to sell.

Is a short sale the best choice for you and your family?

If you are struggling with your mortgage payments the most important thing you can do is be proactive and take control of your financial situation.

It's not just about credit score impact but the impact on your financial stability. By taking control of your mortgage situation you can prevent further damage to your credit and mitigate against increased tax liability.

Short selling your home will allow you and your family to repurchase a home sooner than foreclosure.

Don't delay, the sooner you start the process, the higher your success rate will be.

Foreclosure vs Short Sale

Foreclosures:

• A "Foreclosure" on your credit report is said by mortgage and credit experts to have the 2nd worst possible result, the first is filing bankruptcy.
  
• The bank can still take full legal and financial action against you after a Foreclosure.
  
• If you have multiple liens on your property you will have multiple mortgage lates every month until the trustee sale. This makes it difficult to get your credit back on track.

• Foreclosure does not allow you to procure an offer of the highest price possible in order to minimize your tax consequence. Some states do not have a cancellation of indebt ness leaving you exposed to greater tax liability.

• After a trustee sale the lender can initiate a sheriff’s order to lockout and evict you and your family leaving you unprepared to move.

Short Sales:

• Allows you to list and sell property as soon as hardship hits minimizing the credit impact.
• Property value is based on current market price - minimizing any tax liability.
• Short sale sellers are widely seen as less risky than foreclosed sellers from a credit stand point.
• You may qualify for government assistance.
• Allow you and your family the time to secure a new home
• Allows you to negotiate the outcome of a deficiency judgment before the close of escrow.
• Short Sales are about taking control of your future and finances, giving you and your family and fresh start.

Frequently Asked Questions

How do I qualify for a short sale?

In order to be eligible for a short sale, you must be able to prove to your lender that you are a victim to a "hardship" and are therefore unable to continue making payments on your mortgage

When should I begin the short sale process?

As soon as you possibly can. Foreclosure situations tend to be extremely time sensitive. The sooner we can begin the negotiations with your lender, the greater the chances of a successful resolution.

How long does a short sale typically take to complete?

Every short sale is unique and it follows its own timeline.
Typically a short sale is completed within two to four months from the time we have a complete short sale package ready to present to the lender.

How much will a short sale cost me?

Absolutely nothing. Our short sale negotiation services are at no cost to the homeowner.

Some Common Terms Used

Purchase Money
Original loan extended to you on your property when the property was purchased.

NOD
Notice of Default – Public record filed stating your loan is in default and the lender’s intention to foreclose.

Trustee Sale
Lender sells property at a public auction. If it does not sell the lender takes the property back and becomes an REO ‘Real Estate Owned’.

Loan Modification
Re-negotiating the terms of your loan with your lender(s)