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What to Do When You Have a HAFA and 2 Loans for Your Short Sale Home
Got HAFA and 2 loans? Prepare for the battle. 
Well your short sale will be a bit more difficult for your short sale agent to get approved. It used to be that the second lender would be happy to sign off for $6,000.00 and allow you out of their loan.
 
Under HAFA guidelines your first lender can offer them up to $8,500.00 to release your second lien. Lately I have been running into short sales were the 2nd states they will not allow the short sale to continue unless they get the full $8,500.00
 
HAFA is a set of guidelines for lenders to follow, but that's just it: guidelines.
 
Many first lender will only offer 6% to 8% of the amount owed up to the maximum of $8.500 which ever is less to a second lien holder. Example you owe $70,000 to the second lender the first will offer $5,600.00 but the second stonewalls your short sale agent for the full $8,500.00.
 
Your short sale agent has to fight with both your lenders to get your short sale approved. 
 
Get a Temecula short sale expert to fight the good battle and get your short sale approved. 
 
Visit my website at http://Realty-World.net/Short-Sale-Agents to find out how you, along with ... more

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