Hi, Jason Zweigle here with ShortSaleSlayerz.com, we’re certainly one of Nevada County’s leading short sale teams. Thank you for visiting our website. At present we will discuss 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. In the first video, we talked about going by way of the entrance door of the HAFA program the place we get the bank’s sale price. It is like a preapproved short sale. That is a catastrophic mistake for any agent or shopper to ask the financial institution to give you a price to promote your home. There is a back door HAFA program that we use and mainly we take an offer and submit it and then we request for HAFA short sale approval, getting you the advantages of the HAFA short sale, the $3,000, however not having the financial institution meddle with our sale price and contract.
A number of that is additionally investor driven. You might have a servicer comparable to Bank of America and typically they’ve a portfolio loan meaning it is their money that’s invested in the house, but most of the time, it may be a Fannie or Freddie or possibly even Wells Fargo or Chase’s cash or another 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 consider a short sale or a HAFA short sale that you simply positively work with a highly skilled agent that has accomplished quite a few short sales. I would say 50 to 60 plus before they have actual tried and true expertise in order that they know the best way to navigate through these challenging short sales. The good news is, opposite to popular information on the market on the websites and news experiences, HAFA short sales are an excellent resolution, it ensures the buyer $three,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 little bit bit more cash 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 actually do a short sale.
If you have any questions, give me a call, my 800 number is posted on the web site or fill out the form below. There’s an awesome free download with additional information about short sales. We’re ShortSaleSlayerz.com, considered one of Nevada County’s main short sale teams. I look ahead to hearing from you soon. Thanks and have an awesome 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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- Completing a HAFA Short Sale With Bank of America – Part 1 Hello, Jason Zweigle here with ShortSaleSlayerz.com, we’re considered one of...
