If you want to sell your house but it’s worth less than the amount remaining on the mortgage, a short sale may allow you to sell your house and settle your mortgage debt.
By completing a short sale rather than allowing your house to go through foreclosure, you avoid eviction and your house will not be sold at a public sale or auction. Plus, depending on your circumstances, you could qualify for financial assistance to help with relocation costs.
The Home Affordable Foreclosure Alternatives (HAFA) program was developed to give homeowners a way to settle their mortgage debt without going through a foreclosure.
The goal of this program is to help you sell your home in a short sale and settle your mortgage debt if you owe more on your mortgage than your house is worth and are unable to qualify for a home loan assistance program.
This federal government program streamlines the short sale approval process and offers financial assistance to help you with relocation.
You may be eligible for the Home Affordable Foreclosure Alternatives program if:
the property is your current principal residence, OR the property has been vacant or rented out for less than 12 months, and you have not bought another principal residence during that time.
the amount you owe on your first mortgage for your property is equal to or less than:
•$729,750 for 1 unit
•$934,200 for 2 units
•$1,129,250 for 3 units
•$1,403,400 for 4 units
you owe more on your home than it’s worth
your current mortgage was taken out on or before January 1, 2009
you are experiencing a hardship (such as a job loss, divorce or medical emergency) and are unable to afford your current home loan.
Betty Garcia Miami short sale specialist (786) 229 3636
Miami short sale specialist | Doral Short sale Specialist | Kendall short sale specialist | Coral Gables short sale specialist | Miami Beach short sale Specialist | Key Biscayne short sale specialist
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