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If you are about to lose your home, it is not a pleasant business, but it can be made easier if you enlist the aid of a short sale realtor. It can be very hard on you and the entire family, the least you can do for yourself and everyone is to try and make the process go as smoothly as possible.
Benefits of a Short Sale
Instead of going through the agony and embarrassment of bankruptcy or foreclosure, a more dignified way of going about it is through a short sale. It means that the lender is willing to accept less than the total due amount.
Banks prefer to accept your money than the actual property, so everybody benefits. Your credit history will be saved, and you can avoid a lot of the emotional stress because the process is quite fast.
Not everybody can qualify for a short sale, but when possible, it is a convenient way to avoid foreclosure. If you want to find out if you are a good candidate for it, you will need a Certified Short Sale Realtor to go through your financial information and assist you in creating a strategy to attain whatever it is you are aiming for. Also, she will be the best person to tell you if what you are doing is in line with policies like the HAFA Program, Short Sale Phoenix, Short Sale Scottsdale (or whichever city it applies to) borrower protections or federal laws.
You may want to obtained the advice of an attorney and CPA depending on your situation, You should look for a good short sale realtor who is certified to help you through the whole process..
First of all, she can help you verify how much your property is worth. She can provide you with an estimate of the market value of your house. Remember a Certifed Short Sale Realtor, knows how to work the process with the banks, negotiate the contract and market the property to get to that point.
She is representing your best interests and will inevitably try to search for the best deal that can be had. It is a good idea to communicate with your realtor so that she will know exactly what you want and need. Through this, she can structure the deal to fit your best interests.
She will open you to more options. As an individual, you might not be aware of all your options when it comes to short sales- when it comes to availability, properties on the market, the usual market prices at the moment, and the opportunities you may not have known existed.
She will be able to negotiate for you with the lender. This is a difficult process because not all bank officers are authorized to accept discount. If you do it through the phone, you will be transferred to different departments and will be placed on hold most of the time. Having a Certified Short Sale realtor do this for you will allow you to avoid this long and frustrating process. When it comes to Short Sale, all banks insist on a Realtor handling the property. She will know how to get to the right person and be able to negotiate. A lot of persuasion is involved, but the basic principle is that she must be convinced that the lender can get the property back more quickly, and by doing so, cut his losses.
When you have contacted a short sale realtor, you will be ready to proceed with your short sale. You are not alone; in fact, this is becoming more and more common because more people are discovering the convenience of this strategy.

Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

If you are a homeowner in Phoenix, Scottsdale, Cave Creek,Peoria and Glendale or nearby areas and are underwater in your mortgage, you may have considered a short sale. Most people know that without the help of an experienced Phoenix realtor, this can be a lengthy and cumbersome process. However, there is now a program called HAFA (Home Affordable Foreclosure Alternatives) that may be the right solution for you.

If you, as a homeowner, cannot afford the loan modification program under HAMP and are having problems paying your mortgage, this new law should be of interest to you! Not only will it benefit you, it benefits the servicer and investor as well by providing incentives for participating; it also provides an alternative to foreclosure.

There are guidelines, and this program is not for everyone. HAFA went into effect on April 5th of this year, and allows home owners to participate in a short sale, if you have a mortgage with a participating lender. HAFA applies to those lenders who participate in the HAMP Mortgage Modification Program voluntarily. Fortunately, most major national lenders do participate, so this is not often a problem.

Home owners must still submit many of the same documents as is necessary in a traditional short sale, but once this step is completed you will find that the process is much quicker and more streamlined. Instead of waiting for months or even a year, you may find that your home is sold in a matter of weeks. If you believe you fit the criteria for the HAFA short sale, it is essential that your property be listed with a Certified Phoenix real estate agent who specializes in short sales. , It is necessary to enlist the services of a realtor; with HAFA, They require it.

Another fact about the traditional plan that rubbed many the wrong way is that the lender did not have to get in any rush to begin the process. In fact, lenders could take as long as they like to deny or approve the short sale. With HAFA, there are stricter time-lines that are much shorter, so the lender must begin the process at the time your home is listed with a real estate agent.

There are good points and bad points to everything, and the HAFA short sale is no different. If you believe that this program may apply to you, it would be in your best interest to contact a qualified Phoenix realtor today. Foreclosure is not the only option, and researching alternate solutions could possibly save your future.

Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

Most Phoenix and surrounding area homeowners realize that a short sale can take a considerable amount of time. Now, the HAFA (Home Affordable Foreclosure Alternatives) is making it easier for those who cannot meet monthly mortgage payments or secure a permanent loan modification to sell their home in a relatively short time period. A Phoenix short sale realtor can explain the process to homeowners in depth, so that they can make an informed decision regarding their particular situation.

The purpose of the HAFA program is to provide incentives in connection with a DIL (deed-in-lieu of foreclosure) or a short sale. A DIL is used to avoid foreclosure on a loan that is eligible for modification under the HAMP program. In Phoenix, Arizona and surrounding cities, homeowners who are upside down in their mortgage are looking for a way out other than foreclosure, and this is one very attractive option. Here are a few facts about the program:

Are you eligible? Here are a few of the qualifications:

Must meet basic eligibility criteria for the HAMP program.
The property must be your primary residence.
Your mortgage is behind or foreclosure is clearly in the near future.
Your monthly mortgage payment is more than 31% of your monthly gross income.
Your mortgage must be serviced by a lender who participates in the HAMP program, but the majority of them do.

Here is a basic scenario of how the HAFA short sale program works for the homeowner:

You, as the homeowner, apply for a home loan modification. Your lender then reviews your package, and determines that you do not qualify. At this point, the lender counter offers with an approved short sale agreement. Now that you are approved to do a short sale on your home, it is time to contact an Arizona short sale realtor to list your property and begin marketing it in order to find a buyer. Once a buyer is found for your home, they make an offer and if accepted, closing can take place in as little as 30 days from contract acceptance.

Anyone who has been through the short sale process knows that in certain circumstances, it can take several months to sell your home. Now, the HAFA program is making it much easier and faster for homeowners who are facing foreclosure or must get out of their homes because they can no longer afford their mortgage. Contact a reputable Certified Phoenix short Sale real estate agent today, and learn more about a possible solution for the heavy load you are carrying.

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Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties