Dual-track Foreclosures (working with the homeowner on modification of the loan while simultaneously pursuing foreclosure) is now forbidden. Also forbidden, as if lenders didn’t already know, are robo-signing practices to process foreclosures. Robo signings were uncovered in 2010, when lenders hired people off the street to sign default documents in order to expedite foreclosures. Robo [...]
With the new HARP 2.0 many borrowers are uncertain about government loans and how to determine if they have a government backed loan which are Fannie Mae or Freddie Mac. If your mortgage is owned by Fannie Mae or Freddie Mac, you may be eligible for a Home Affordable Refinance to take advantage of lower interest rates. Your [...]
by Agi Anderson Many borrowers have a misconceptions about a short sale. A short sale, defined by the Certified Distressed Property Expert’s (CDPE) site explains, How a short sale works A short sale can be an excellent solution for homeowners and investors who need to sell, but owe more on their property than what it’s worth. [...]
by Agi Anderson, FL RE Broker, Certified Distressed Property Expert It was the Palm Beach Post, where I saw Bank of America extended the Florida-only incentive program that offers property owners “up to” $20,000 for a short sale, rather than going through a lengthy foreclosure. These short sale cash incentive programs include investors as well as [...]
Home Affordable Foreclosure Alternatives (HAFA) Program If your mortgage payment is unaffordable and you are interested in transitioning to more affordable housing, you may be eligible for a short sale or deed-in-lieu of foreclosure through HAFA SM. The benefit of a HAFA short sale is that you are no longer responsible for the difference between what [...]
If you are struggling with an overwhelming mortgage payment and you apply for assistance, it’s without question you will be required to provide a hardship letter. There is a lot of misinformation out there about HARP (refinancing), HAMP (loan modification) and HAFA (short sale) all government programs created to provide mortgage relief. The Making Home Affordable © [...]
Agi Anderson, CDPE, compiled changes made to Make Affordable HARP refinancing program, October 2011 ~ to see if you qualify, just enter your name and email to request HARP guidelines. (make sure to check spam for email confirmation)
