Hello, Jason Zweigle here with ShortSaleSlayerz.com, we’re one of Orangevale’s leading short sale teams. Thank you for visiting our website. Today we’re going to talk concerning the part 2 of the Bank of America HAFA short sale program. I wanted to develop somewhat on how we approach the short sale option. Within the first video, we talked about going via the entrance door of the HAFA program where we get the financial institution’s sale price. It is like a preapproved short sale. That is a catastrophic mistake for any agent or client to ask the financial institution to present you a value 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 benefits of the HAFA short sale, the $3,000, however not having the financial institution meddle with our sale price and contract.
A lot of this is additionally investor driven. You could have a servicer equivalent to Bank of America and typically they’ve a portfolio loan that means it’s their money that is invested within the dwelling, but more often than not, it’s going to be a Fannie or Freddie or perhaps even Wells Fargo or Chase’s cash or some other investor’s. We also have investor guidelines that we have now 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 positively work with a highly skilled agent that has done quite a few short sales. I might say 50 to 60 plus before they have real tried and true experience so that they know how to navigate through these difficult short sales. The excellent news is, opposite to popular information out there on the websites and information stories, HAFA short sales are an amazing solution, it ensures the patron $3,000 at close of escrow and it ensures forgiveness of any debt. It is also good for the second lien holders because the first will give the second a bit of bit extra money which gives the second lien holder more motivation to comply with the short sale. We want the second lien holder’s blessing and approval to really 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 an incredible free download with extra details about short sales. We’re ShortSaleSlayerz.com, considered one of Orangevale’s main short sale teams. I look ahead to hearing from you soon. Thanks and have an incredible 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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