Carefree Arizona Short Sale Expert - Carefree HAFA short sale specialist - Carefree Listing Agent - HAFA & HAMP

HAFA Short Sale Benefits:

• Quick approval of a short sale offer
• Lender/Servicer will agree not to foreclose for a period of up to six months to allow time for the sellers agent to market the property, obtain an offer and complete the HAFA short sale process.
• The lender/servicer will agree to give up their right to seek a deficiency judgement against the seller.
• A full release for the Seller of all current and future liability from the home mortgage.
• Seller will not be required to come up with any funds for a seller contribution to close.
• The seller may be eligible to receive up to $3000 in relocation assistance funds upon a successful completion of a HAFA short sale.

HAFA Qualification Criteria:

• Must be a primary residence that is currently occupied to be eligible.
• The mortgage balance must be less than $729,750.
• The borrower suffers a hardship such as loss of income, an increased mortgage payment or an unexpected increase of expenses.
• The mortgage is delinquent or default is reasonably foreseeable.
• The mortgage originated before January 1, 2009.
• The PITI mortgage payment, including HOA, is more than 31% of the borrower's gross monthly income.
• Seller must live in and maintain the property during the process. (Job transfers may be allowed)
• If you have a second mortgage they must agree to release their lean for the lesser of 3% of the loan balance or $6000.
• IF your loan is FANNIE MAE, you will not qualify for HAFA if your Foreclosure Auction date is less than 60 days away.
• IF your loan is FREDDIE MAC you must be late on your payments NOT going to be late as foreseeable as stated above.
• Must be an arms length transaction.