HAFA Relocation Incentive Increases to $10,000 On 2-1-2015

By
Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690
http://actvra.in/4yp7

HAFA Relocation Incentive Increases to $10,000 On 2-1-2015

Hi folks. Good news for folks that qualify for a HAFA Short Sale. As of February 1, 2015 the relocation incentive available to the occupant/borrower is increasing from $3,000 to $10,000!!

 

That’s right we may be able to get you $10,000 to assist you with moving from your property once the HAFA Short Sale is completed. These funds are paid to the OCCUPANT of the property even if they are not the owner/borrower.

 

My advice is don’t move!! Stay in your property while we go through the HAFA Short Sale process. The lender will compensate you for doing so. They want you there to maintain the property.

 

You may be eligible for a HAFA Short Sale if you meet all of the following criteria:

 

  • You have a documented financial hardship.

  • You have not purchased a new house within the last 12 months.

  • Your first mortgage is less than $729,750.

  • You obtained your mortgage on or before January 1, 2009.

  • You must not have been convicted within the last 10 years of felony larceny, theft, fraud, forgery, money laundering or tax evasion in connection with a mortgage or real estate transaction.

 

*Eligibility criteria are for guidance only. Contact your Orlando Short Sale Specialist to see if you qualify for HAFA.

 

HAFA offers benefits that make the transition as favorable as possible:

 

  • You can get free advice from HUD-approved housing counselors and licensed real estate professionals.

  • Unlike conventional short sales, a HAFA short sale completely releases you from your mortgage debt after selling the property. This means you will no longer be responsible for the amount that falls "short" of the amount you still owe. The deficiency is guaranteed to be waived by the servicer.

  • In a HAFA short sale, your mortgage company works with you to determine an acceptable sale price.

  • HAFA has a less negative effect on your credit score than foreclosure or conventional short sales.

  • When you close, HAFA may provide $10,000 in relocation assistance.

So folks, if you are experiencing difficulties making your mortgage payment then give me a call. As your Orlando Short Sale Specialist I will be able to guide you through the entire process.

Together we can devise a plan to get you out from under your hardship with the least impact to you and yours.

 

Please feel free to reach out to me if I can be of any assistance.

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Rainmaker
1,143,096
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Thats a pretty large incentive buyt I guess I am at a loss as to why the occupant that is not the owner would get compensated for someone elses loss?

Jan 20, 2015 10:36 AM #1
Ambassador
2,692,949
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

An incentive that actually discourages the need for costly and time consuming eviction actions.

What do you know!!!

 

Jan 20, 2015 09:21 PM #2
Rainmaker
1,131,730
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

David. The purpose of the incentive is keep the property occupied and maintained duringthe short sale process. There are going to be a lot of happy renters!!

Hi Lenn. been quite awhile since I havebeen over here. I hope you are doing well.

Jan 21, 2015 03:15 AM #3
Rainmaker
210,433
William Collins
ERA Queen City Realty - Scotch Plains, NJ
Director of Property and Asset Management

David,  I have been away doing property and management and just returned. I had no idea that the incentive had been increased as of 2/1/2015.  by the way, I like the new look.

Jan 23, 2015 03:34 PM #4
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