How to survive a California Short Sale; what is HAFA? These are Great questions! Thousands of homeowners are facing foreclosure; something most thought would NEVER happen to them. Homeowners are finding themselves at a loss as to who can and/or should be trusted.
1. Number one and most important...don't ignore your situation! It won't go away'! 
Knowledge is power; the more you know, the better you can protect yourself. Every situation is unique. Some may be better off to allow the foreclosure, but often short selling your property is the best plan. How can you be sure?
2. Consult with your CPA and Attorney. If you don't have one, I can help you with referrals. There is tax forgiveness on the federal and state level, but some circumstances do apply. You should know your rights. A Realtor is NOT the qualified individual to give you legal and tax advice. We are prohibited from giving that type of advice! If you are advised to sell, what to do?
3. Contact a Realtor you trust! If you don't know someone, give me a call or send me an email with your questions. Your can advise you as to the process of the sale and how to stay in your house beyond the foreclosure sale date. IF YOU WAIT TO LONG, it is close to impossible to stop the sale long enough to sell the house.
4. Follow the advice of your professionals! Time is of the utmost importance. EVERY LENDER has different policies. What might be acceptable to Wells Fargo may not be reasonable to U.S. Bank and so on. Your Realtor should know how to guide you as to what to collect from you paperwork- wise and how to assist you in preparing a hardship letter and applying for HAFA. Every day you ignore your situation puts you one day closer to your sale date!
What is HAFA? In a nutshell, it is an incentive program for servicers and borrowers to help avoid foreclosures. It has been my experience that sellers that qualify for HAFA receive approximately $3,000 at close of escrow, helping the borrower to with relocation expenses after a completed HAFA Short Sale.
How to Survive a California Short Sale & Apply for HAFA? Get started today. Don't wait!!
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