hafa: Kids Don‘t Count: What You Need To Know About CalHFA Short Sales
- 10/14/11 09:03 AM
I took a listing recently from a young couple who was clearly experiencing a financial hardship. They were both city workers whose salaries were cut and overtime eliminated. There were three loans recorded against their condo, all of them purchase-money, two of the three with CalHFA(California Housing Finance Agency). A month prior, this couple was denied a loan modification. I guess I should clarify: They were approved for a modification that lowered their monthly payments all of twenty-eight dollars, which did very little to offset their nine-hundred dollar monthly shortage. I did the usual pre-listing qualifying work- checked the financials, confirmed … (17 comments)
I took a listing recently from a young couple who was clearly experiencing a financial hardship. They were both city workers whose salaries were cut and overtime eliminated. There were three loans recorded against their condo, all of them purchase-money, two of the three with CalHFA(California Housing Finance Agency). A month prior, this couple was denied a loan modification. I guess I should clarify: They were approved for a modification that lowered their monthly payments all of twenty-eight dollars, which did very little to offset their nine-hundred dollar monthly shortage.
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