Real estate blog entries tagged with bend short sale expert by Cheri Smith (Total Property Resources)

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Home : Blogs : Cheri Smith : My Blog About the Bend Real Estate Market and General Real Estate Ramblings : Tag "bend short sale expert"

bend short sale expert: Do I have to miss payments to do a short sale? - 07/09/10 11:02 AM

This is one of the most common questions I hear lately. Many homeowners know that if they don't sell their home soon, they won't be able to make the payments anymore so they want to sell before they miss a payment. It makes a lot of sense. The main thing that hurts your credit in a short sale is the missed payments. In fact, recent FHA guidelines state that a borrower is immediately eligible for an FHA insured loan after a short sale if they were current on their mortgage and other installment debts at the time of the short sale. … (3 comments)

bend short sale expert: Are you eligible for a HAFA short sale? - 05/04/10 05:44 PM

On April 5, 2010 the Home Affordable Foreclosure Alternatives (HAFA) program went into effect. HAFA was designed to help owners who are unable to retain their home under the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure. Servicers participating in HAMP are also required to comply with HAFA. HAFA provides the loan servicer, junior lien holder, and sellers incentives for these transactions and is designed to simplify and streamline short sales and deeds-in-lieu of foreclosure.
Who is eligible for HAFA?The borrower must meet the basic … (5 comments)

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Cheri Smith

Bend, OR

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