Hi, Jason Zweigle here with ShortSaleSlayerz.com, we’re one of Roseville’s leading short sale teams. Thanks for visiting our website. At this time we will talk concerning the part 2 of the Bank of America HAFA short sale program. I wanted to develop slightly on how we approach the short sale option. In the first video, we talked about going via the front door of the HAFA program where we get the financial institution’s sale price. It is like a preapproved short sale. That’s a catastrophic mistake for any agent or client to ask the financial institution to offer you a price to sell your home. There’s a back door HAFA program that we use and basically we take a suggestion and submit it after which we request for HAFA short sale approval, getting you the advantages of the HAFA short sale, the $three,000, however not having the bank meddle with our sale price and contract.
A whole lot of this is additionally investor driven. You will have a servicer such as Bank of America and generally they have a portfolio loan which means it is their cash that is invested within the home, however more often than not, it may be a Fannie or Freddie or perhaps even Wells Fargo or Chase’s money or some other investor’s. We even have investor guidelines that we have to get through to get a HAFA short sale approval.
I recommend if you are going to think about a short sale or a HAFA short sale that you definitely work with a extremely experienced agent that has completed numerous short sales. I’d say 50 to 60 plus before they’ve actual tried and true expertise so they know the best way to navigate through these difficult short sales. The good news is, opposite to popular information on the market on the websites and information reviews, HAFA short sales are an excellent resolution, it ensures the buyer $3,000 at close of escrow and it guarantees forgiveness of any debt. It’s also good for the second lien holders as a result of the first will give the second a bit bit extra money which gives the second lien holder more motivation to conform to the short sale. We want the second lien holder’s blessing and approval to truly do a short sale.
When you’ve got any questions, give me a call, my 800 number is posted on the web site or fill out the form below. There’s a fantastic free download with additional information about short sales. We are ShortSaleSlayerz.com, one of Roseville’s leading short sale teams. I look ahead to hearing from you soon. Thanks and have a fantastic day.
Do you need to sell you home or are you underwater and can’t make your mortgage payments? Jason Zweiglye and the Short Sale Slayerz can answer your short sale questions. We are California Short Sale Specialists.
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