Are you eligible for HAFA program?
Below are some of the criteria for HAFA:
1. a customer has exhausted all modification options
2. the property is the customer's principal residence
3. the first lien mortgage originated on or before 1/1/2009
...for more criteria on HAFA..call me for a private consultation.
I am a Certified CDPE-(Certified Distressed Property Expert)-Call me for a private consultation.
Friday, July 30, 2010
Thursday, July 29, 2010
Additional BENEFITS of HAFA
Additional benefits of HAFA include:
1. lender recommeded list price PRIOR to listing the home, and
2. waived deficiency-meaning the mortgage debt will be settled through the program and no legal action can be taken on/agaist the outstanding mortgage debt.
I am a Certified CDPE-(Certified Distressed Property Expert)-Call me for a private consultation.
1. lender recommeded list price PRIOR to listing the home, and
2. waived deficiency-meaning the mortgage debt will be settled through the program and no legal action can be taken on/agaist the outstanding mortgage debt.
I am a Certified CDPE-(Certified Distressed Property Expert)-Call me for a private consultation.
Wednesday, July 28, 2010
What is HAFA?
HAFA is Home Affordable Foreclosure Alternatives-a program designed for homeowners who:
1. are unable to afford their first mortage
2. want to avoid foreclosure and...
3. have exhausted all modification attempts and continuing to own their property is not an option
Homeowner must meet qualification requirements and...
...the HAFA process is used by their servicer, and...
...decision timeframes.
HAFA offers financial incentives who sucessfully complete a HAFA Short Sale or Deed-in-Lieu of Foreclosure
I am a Certified CDPE-(Certified Distressed Property Expert)-Call me for a private consultation.
1. are unable to afford their first mortage
2. want to avoid foreclosure and...
3. have exhausted all modification attempts and continuing to own their property is not an option
Homeowner must meet qualification requirements and...
...the HAFA process is used by their servicer, and...
...decision timeframes.
HAFA offers financial incentives who sucessfully complete a HAFA Short Sale or Deed-in-Lieu of Foreclosure
I am a Certified CDPE-(Certified Distressed Property Expert)-Call me for a private consultation.
Monday, July 26, 2010
Short Sale Myths
Short Sale Myths
A number of myths about short sales have developed, and it is important to understand the reality of this process.
Myth #1 – The Bank Would Rather Foreclose than Bother with a Short Sale
This is one of the most common misconceptions. The reality is that banks do not want to foreclose on your property because the foreclosure process is incredibly costly. Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.
Myth #2 – You Must Be Behind on Your Mortgage to Negotiate a Short Sale
While this may have previously been the case, today lenders are looking for verifiable hardship, monthly cash flow shortfall, or pending shortfall and insolvency.
If you meet these three requirements and believe that you soon may be unable to afford your mortgage, act immediately. Any delay could limit your options. Do not wait until the countdown clock to foreclosure has started and you have even less time left.
Myth #3 – There is Not Enough Time to Negotiate a Short Sale Before My Foreclosure
This is a myth that probably hurts homeowners the most. Many do not realize that foreclosure is a process, and that there is time to make decisions that may result in better outcomes.
Myth #4 – Listing My Home as a Short Sale is an Embarrassment
It is understandable to have reservations about letting the world know that you owe more on your home than it is worth. However, according to recent estimates, more than one out of eight homeowners in the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you toward a solution.
Myth #5 – Short Sales are Impossible and Never Get Approved
This is a complete falsehood. Are short sales more difficult to execute? Yes.
Are they impossible? Absolutely not.
Agents with the Certified Distressed Property Expert® (CDPE) Designation receive thousands of short sale approvals on a monthly basis. These professionals have undergone extensive training in methods to help homeowners in distress and process short sales. While there are no guarantees in any transaction, more and more short sales are being approved regularly. This is far from an impossible process.
Myth #6 – Banks are Waiting on a Bailout and Not Accepting Short Sales
You may have heard this, but the reality is that banks are trying to do anything they can, within reason, to avoid foreclosing on properties.
Today, more banks are aggressively pursuing short sales and working with agents who understand how to process them.
Myth #7 – Buyers are Not Interested in Short Sale Properties
This is a myth that potential sellers hear all the time. This is just not true. In fact, many agents are getting calls from buyers who say they only want to look at foreclosure and short sales.
Agents with the CDPE Designation have been trained in all aspects of the short sale process, and know how to deal with the parties involved in foreclosures.
Contact me for a PRIVATE CONSULTATION TO SEE IF YOU QUALIFY FOR A SHORT SALE.
A number of myths about short sales have developed, and it is important to understand the reality of this process.
Myth #1 – The Bank Would Rather Foreclose than Bother with a Short Sale
This is one of the most common misconceptions. The reality is that banks do not want to foreclose on your property because the foreclosure process is incredibly costly. Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.
Myth #2 – You Must Be Behind on Your Mortgage to Negotiate a Short Sale
While this may have previously been the case, today lenders are looking for verifiable hardship, monthly cash flow shortfall, or pending shortfall and insolvency.
If you meet these three requirements and believe that you soon may be unable to afford your mortgage, act immediately. Any delay could limit your options. Do not wait until the countdown clock to foreclosure has started and you have even less time left.
Myth #3 – There is Not Enough Time to Negotiate a Short Sale Before My Foreclosure
This is a myth that probably hurts homeowners the most. Many do not realize that foreclosure is a process, and that there is time to make decisions that may result in better outcomes.
Myth #4 – Listing My Home as a Short Sale is an Embarrassment
It is understandable to have reservations about letting the world know that you owe more on your home than it is worth. However, according to recent estimates, more than one out of eight homeowners in the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you toward a solution.
Myth #5 – Short Sales are Impossible and Never Get Approved
This is a complete falsehood. Are short sales more difficult to execute? Yes.
Are they impossible? Absolutely not.
Agents with the Certified Distressed Property Expert® (CDPE) Designation receive thousands of short sale approvals on a monthly basis. These professionals have undergone extensive training in methods to help homeowners in distress and process short sales. While there are no guarantees in any transaction, more and more short sales are being approved regularly. This is far from an impossible process.
Myth #6 – Banks are Waiting on a Bailout and Not Accepting Short Sales
You may have heard this, but the reality is that banks are trying to do anything they can, within reason, to avoid foreclosing on properties.
Today, more banks are aggressively pursuing short sales and working with agents who understand how to process them.
Myth #7 – Buyers are Not Interested in Short Sale Properties
This is a myth that potential sellers hear all the time. This is just not true. In fact, many agents are getting calls from buyers who say they only want to look at foreclosure and short sales.
Agents with the CDPE Designation have been trained in all aspects of the short sale process, and know how to deal with the parties involved in foreclosures.
Contact me for a PRIVATE CONSULTATION TO SEE IF YOU QUALIFY FOR A SHORT SALE.
Friday, July 23, 2010
Certified Distressed Property Expert-Short Sale NOT Foreclosure
What is a CDPE?
A Certified Distressed Property Expert® is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.
The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools needed to help homeowners find the best solution for their situation. Often, when other options have been exhausted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.
While enduring financial difficulties is challenging for any family, the process of finding a qualified real estate professional should not be. Selecting an agent with the CDPE Designation ensures you are dealing with a professional trained to address your specific needs. For more information, contact a CDPE in your area.
CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.
A Certified Distressed Property Expert® is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.
The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools needed to help homeowners find the best solution for their situation. Often, when other options have been exhausted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.
While enduring financial difficulties is challenging for any family, the process of finding a qualified real estate professional should not be. Selecting an agent with the CDPE Designation ensures you are dealing with a professional trained to address your specific needs. For more information, contact a CDPE in your area.
CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.
Thursday, July 22, 2010
Are You Facing Foreclosure-Are You In a Distressed Situation?
If you are Facing Possible Foreclosure-You Have Options!!
Homeowners need these solutions, and today more than ever, they need educated real estate agents to help them learn about their options.
Talk to a Certified CDPE Realtor Only-Contact me for a private consultation.
Homeowners need these solutions, and today more than ever, they need educated real estate agents to help them learn about their options.
Talk to a Certified CDPE Realtor Only-Contact me for a private consultation.
Wednesday, July 21, 2010
The Foreclosure Rescue Scam: Watch Out!
"The Foreclosure Rescue Scam" Be on the lookout!
The Scam: “Rescuers” promise cash-strapped home owners that they can save their home from foreclosure. The rescue, which involves paying upfront fees, can take multiple forms, such as the perpetrator obtaining a new loan on behalf of the owner or by having the owner sign over the home’s deed and then rent the home until they can repurchase it. Eventually, the home owner loses the home, either to foreclosure or the fictitious rescue company.
Red Flags: With foreclosure rescue programs, borrowers are often advised to sign over the title of their house to a third party, become renters of their home, not contact their lender, or send mortgage payments to a third party, according to Fannie Mae, which provides fact sheets on mortgage fraud."
Taken from Realtor Mag
by Melissa Dittmann
The Scam: “Rescuers” promise cash-strapped home owners that they can save their home from foreclosure. The rescue, which involves paying upfront fees, can take multiple forms, such as the perpetrator obtaining a new loan on behalf of the owner or by having the owner sign over the home’s deed and then rent the home until they can repurchase it. Eventually, the home owner loses the home, either to foreclosure or the fictitious rescue company.
Red Flags: With foreclosure rescue programs, borrowers are often advised to sign over the title of their house to a third party, become renters of their home, not contact their lender, or send mortgage payments to a third party, according to Fannie Mae, which provides fact sheets on mortgage fraud."
Taken from Realtor Mag
by Melissa Dittmann
Wednesday, July 14, 2010
Are you or someone you know facing the possibility of Foreclosure?-
You are not alone-today nearly 1 of every 6 homeowners in America is behind on their mortgage payment.
It's important you act now and identify your options. Foreclosure CAN be avoided, your credit score CAN be saved, and your financial futures CAN be salvaged.
You have questions, plenty of them. Take a moment to browse my blog-it's quick and easy to read. I've created this blog to help you understand there ARE solutions to foreclosure. Then call me and let's sit down and explore your options, I'm here to help.
As a Realtor, I've seen folks in distressed situations and I wanted to help so with the CDPE® Designation, I have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you.
If you would like to know more about those options, please call me at 281-460-5994.
I am here to help … Ann Marie
It's important you act now and identify your options. Foreclosure CAN be avoided, your credit score CAN be saved, and your financial futures CAN be salvaged.
You have questions, plenty of them. Take a moment to browse my blog-it's quick and easy to read. I've created this blog to help you understand there ARE solutions to foreclosure. Then call me and let's sit down and explore your options, I'm here to help.
As a Realtor, I've seen folks in distressed situations and I wanted to help so with the CDPE® Designation, I have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you.
If you would like to know more about those options, please call me at 281-460-5994.
I am here to help … Ann Marie
Tuesday, July 13, 2010
Facing Short Sale or Foreclosure? Make sure you are working with a CDPE
Are you in danger of Foreclosure? Are you facing financial hardship or a distressed situation?
As a CDPE© -Certified Distressed Property Expert©- I am a trained Short Sale Specialist and help homeowners who are in danger of losing their home to foreclosure.
Homeowners have options that most are not aware of and I can help them get out of their situation. It is extremely important to act AS SOON AS POSSIBLE. Please call me to arrance for a free consultation. My direct number is 281-460-5994
As a CDPE© -Certified Distressed Property Expert©- I am a trained Short Sale Specialist and help homeowners who are in danger of losing their home to foreclosure.
Homeowners have options that most are not aware of and I can help them get out of their situation. It is extremely important to act AS SOON AS POSSIBLE. Please call me to arrance for a free consultation. My direct number is 281-460-5994
Monday, July 12, 2010
Are There Any Liens on Your Home?
If you have any liens, fines, code violations or other clouds on your homes title, you need to see if they can be removed or negotiated immediately. In many cases if you don't address these liens immediately, the short sale will fall apart even before it has started.
Any liens found on your title you should immediately call the person or company with the lien to see if they will negotiate a reduction with you.
There is a good chance that you can negotiate these so that the lien holders get something rather than nothing. If you do negotiate a reduction in lien- GET A LETTER FROM THE LIEN HOLDER FOR THE AMOUNT THEY ARE WILLING TO ACCEPT, you will need to give this to your CDPE Realtor.
A tactic you might want to use with a lien holder is to sign a note for a portion of the lien so that it can be removed from the property and placed on you personally.
In all cases with a short sale you need to do whatever possible to reduce all liens prior to submitting a offer packet to the lender.
Any liens found on your title you should immediately call the person or company with the lien to see if they will negotiate a reduction with you.
There is a good chance that you can negotiate these so that the lien holders get something rather than nothing. If you do negotiate a reduction in lien- GET A LETTER FROM THE LIEN HOLDER FOR THE AMOUNT THEY ARE WILLING TO ACCEPT, you will need to give this to your CDPE Realtor.
A tactic you might want to use with a lien holder is to sign a note for a portion of the lien so that it can be removed from the property and placed on you personally.
In all cases with a short sale you need to do whatever possible to reduce all liens prior to submitting a offer packet to the lender.
Your Current Financial Troubles
"While it may not seem like it now, there will come a time where your current financial troubles will pass. You will feel much better knowing that you did everything you could to avoid this devastating financial consequence so may people face today."
Friday, July 9, 2010
Why work with a Certified Distressed Property Expert (CDPE)
"As your CDPE agent, I will explore every option with you and work towards a resolution"
Thursday, July 8, 2010
Reasons To Avoid Foreclosure
Reasons why should you AVOID Foreclosure
1. You will ALWAYS have to disclose you have had a foreclousre on any mortgage application and many job applications. This may adversely affect your furture mortage rates.
2. Credit scores will be lowered by 300+ points and foreclosure is the most devastating credit issue you can have in relation to future credit availability.
3. A Foreclosure is the one credit report item that is almost impossible to have "repaired".
4. Your lender can seek a deficiency judgment against you and collect for any amount they do not recuperate at the bank sale.
5. Many employers run credit checks on prospective employees and foreclosure is one of the top items that will put a potential new hire in jeopardy.
6. Many current employers run credit checks and a foreclosure can put a current position in jeopardy.
7. Security clearances and government positions including but not limited to military and law enforcement can be jeopardized by a foreclosure.
8. You may be responsible for any deficiencies after foreclosure for an indeterminate period of time depending on the state you live in. This can lead you to never ending collections
Talk to a CDPE agent and they will explore every option with you and work toward a resolution if possible.
1. You will ALWAYS have to disclose you have had a foreclousre on any mortgage application and many job applications. This may adversely affect your furture mortage rates.
2. Credit scores will be lowered by 300+ points and foreclosure is the most devastating credit issue you can have in relation to future credit availability.
3. A Foreclosure is the one credit report item that is almost impossible to have "repaired".
4. Your lender can seek a deficiency judgment against you and collect for any amount they do not recuperate at the bank sale.
5. Many employers run credit checks on prospective employees and foreclosure is one of the top items that will put a potential new hire in jeopardy.
6. Many current employers run credit checks and a foreclosure can put a current position in jeopardy.
7. Security clearances and government positions including but not limited to military and law enforcement can be jeopardized by a foreclosure.
8. You may be responsible for any deficiencies after foreclosure for an indeterminate period of time depending on the state you live in. This can lead you to never ending collections
Talk to a CDPE agent and they will explore every option with you and work toward a resolution if possible.
Wednesday, July 7, 2010
Personal Bankruptcy a Controversial Means to Stay Afloat
Is personal bankruptcy an option?
Cash-strapped, jobless and denied a loan modification, Del Phillips faced the same straits as millions of homeowners who risk losing their homes to mortgage lenders.
Read more...http://rismedia.com/lowes/8355/9151
By Mary Ellen Podmolik
Cash-strapped, jobless and denied a loan modification, Del Phillips faced the same straits as millions of homeowners who risk losing their homes to mortgage lenders.
Read more...http://rismedia.com/lowes/8355/9151
By Mary Ellen Podmolik
Friday, July 2, 2010
Facing Financial Distress-You Have Options to Foreclosure
Are you facing financial distress and think your only option is walking away from your home? STOP, you may have options.
Often times a homeowner is in such deep despair from misinformation they have been given or what they incorrectly believe about their situation, they feel their only "out" is turning in the house keys to the mortgage company and walking away.
Call me-a Certified CDPE Realtor and along with information I can provide and analysis of your situatioon, there might be a potential way of staying out of Foreclosure.
YOU must first make the commitment to working with your CDPE, getting actively involved, to help resolve your situation.
Often times a homeowner is in such deep despair from misinformation they have been given or what they incorrectly believe about their situation, they feel their only "out" is turning in the house keys to the mortgage company and walking away.
Call me-a Certified CDPE Realtor and along with information I can provide and analysis of your situatioon, there might be a potential way of staying out of Foreclosure.
YOU must first make the commitment to working with your CDPE, getting actively involved, to help resolve your situation.
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