There are 180 homes in Foreclosure in Mountain House…Help Is Coming.
April 13, 2010
According to the latest reports by Foreclosure Radar there are 180 families that are 30 days or less from losing their homes.
Foreclosure Radar tracks the court filings for Notice of Defaults, Notice of Sales and the actual turnover of properties to the banks, the final step in the foreclosure status. The 180 Foreclosure homes belong to homeowners that have had the notice of sales filed and are in the stage between foreclosure and Auction. Some of the owners have given up completely and walked away from their homes. However, many of these homeowners are still living in their homes and are part of the HAMP Loan Modification Program. These homeowners may have had their auction date pushed back 6 or more times. Other homeowners are waiting for yet another postponement while their short sale is being Negotiated.
With the implementation of the new HAFA Guidelines on April 5th there are many of these homeowners that can keep their home from auction and remain in their home for a little while longer. Banks do not want to own these properties. If you have been denied a loan modification or cannot make your payments under the trial modification you can still take advantage of a short sale.
LENDERS ARE REQUIRED TO ANSWER A SHORT SALE REQUEST WITHIN 10 DAYS OF RECEIVING THE REQUEST AND OFFER OF PURCHASE.
LENDERS ARE NOT ALLOWED TO PURSUE ANY AMOUNT OF THE FIRST MORTGAGE DEBT.
LENDERS ARE NOT ALLOWED TO REQUIRE ANY CASH, PROMISSORY NOTE OR DEFICIT CONTRIBUTION.
HOMEOWNERS ARE ELIGIBLE TO RECEIVE A “RELOCATION INCENTIVE” IN THE AMOUNT OF $3,000 TO HELP WITH MOVING COSTS AND IT IS DEDUCTED FROM THE SALE PRICE.
LENDERS RECEIVE $1,500 AS AN INCENTIVE TO SPEED UP THE PROCESS AND APPROVE THE SALE.
If additional clarification is needed, or you would like a confidential consultation, please contact Toni Dalrymple at 925.922.1944, or at www.4SaleByToni.com Toni is a licensed REALTOR®, CA License #01821583 with Keller Williams Tri Valley Realty. Toni is a Certified Short Sale Specialist and has experience successfully negotiating Short Sales with Bank of America, Wachovia, Chase, IndyMac and other lending institutions. References are available upon request.
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