Tag Archive
$20,000 Short Sale Incentive Extended in FL
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 [...]
Do you qualify for HAFA?
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 [...]
Hardship letter critical for mortgage relief
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 © [...]
Lenders Error in Processing Loan Modification
Loan modifications are a tedious process with possibility for error at every turn and the truth is lenders lake mistakes modifying loans. Homeowners and investors are advised to interview trustworthy loan modification companies and utilize the skills of a reputable third party representative and here’s why. One of our clients received an approval for modification, [...]
Guidelines for Loan Modification Process
Loan modification is a negotiated remedy between a homeowner and the lender which enables the homeowner to remain in the home, avoiding foreclosure because of default on the loan. The loan modification program is geared towards homeowners whose payments have become unaffordable as a result of interest rate adjustments, unexpected loss of income, or increase [...]
In-House Loan Modification Financial Underwriting
Sharon Martin has been studying and is now operational as a Direct Endorsement Underwriter, capable of performing the financial calculations to determine those applying for a Home Loan Modification the estimated amount of the modified mortgage payment and interest rate. This will save people considering applying for the modification weeks and months of waiting and [...]
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)
