Cape Coral Home Owners – Is a Short Sale for You?
If you can’t keep up your mortgage payments and are trying to sell your home as a short sale, the U.S Treasury has come up with a solution.
Read Reuters article, dated November 30th 2009
There is good news about the short sale process. On November 30th 2009, the U.S. Treasury set much needed guide lines for mortgage companies to speed the short sales process. The new voluntary guidelines through the HAFA program will be in effect April 5th 2010 although loan servicers may elect to act before then.
See entire terms here HAMP
What does this mean to the home seller?
Pre-approved list price acknowledging sales costs and real estate commissions
Response to a sales contract within 10 days
Release you from all responsibilities for repaying your mortgage
Receipt $1,500 to help pay some of your moving expenses
What does this mean to the home buyer?
Make an offer with confidence that the price is real
No more waiting months to find out the mortgage lender won’t accept a short sale
If you’re thinking that a short sale of your home may be the right alternative for you, please give me a call. I have a vast amount of successful experience with the short sale process.