Do you qualify?

YOU MAY QUALIFY FOR THE TREASURY DEPARTMENT'S HAFA SHORT SALE

Not all loans are the same when trying to qualify for a short sale; first you need to know who the investor on your loan is to determine which program/programs may apply to you. Once you have determined that you may be eligible for the HAFA program we will be able to further assist in determining whether you qualify or not.

Here are the highlights of the program with changes announced March 9th 2012.

Changes announced March 9th 2012 marked with * went into effect June 1st 2012

PROGRAM EXTENDED TO DEC 31st 2013*

• Occupancy requirements have been removed*
• Max. loan limit $729,750
• Lender forgives the deficiency balance
• Homeowner may be allowed to continue making mortgage payments to preserve good credit*
• $3000 relocation incentive paid to occupant at time of short sale approval (owner/tenant. If vacant none)*
• Amount paid to Jr. Lien holder increased to $8500*
• Lender credit bureau reporting changed to account code 13 or 65 as applicable* (13=paid or closed account/zero balance, 65=account paid in full/a foreclosure was started)

Loans owned by Fannie Mae or Freddie Mac, FHA and VA have different guidelines as above. For details on which program you may qualify for please call or email us.

Thanks for reading…Steve Jackson

561.602.1258