Will the changes in the Short Sale process really change? Critics are waiting to see how the first transaction goes.
HAFA begins April 5th and will offer tighter timelines for both homeowners and banks so that the short sale process does not drag on for months. But, there is no serious punishment for banks who don't comply only small financial incentives to particiapate if a transaction is successful. The lender receives $1,000 and the homeowner receives $1,500. Unfortunately, the strict homeowner eligibility requirements linked to HAMP (loan modification program) has not changed for HAFA. Second lien holders may reject the deals. HAFA offers them no more than $3,000 in sale proceeds, no matter the size of the loan.
The good news is that under HAFA the Lenders must notify borrowers up front what the minimum buyer offer they will accept. Yeah! No more price guessing games.
AAR offers a new Short Sale Advisory for Sellers
goto: http://kathleeninarizona.com/seller-advisory-f9783.html
About Kathleen Mazzocco
- Kathleen Mazzocco, Realtor in Anthem, AZ Relocation to Scottsdale, AZ
- Scottsdale, AZ, United States
- Kathleen has worked with a variety of clients and employees from across and outside of the country, and this has given her a firm grasp of all the details that need to be considered when buying a home in Scottsdale, Anthem, or other areas of Phoenix, Arizona. Kathleen is a AZ Corporate Relocation Professional, and Buyer's Agent. She doesn't just help you find the home you want, she also insures that you're settling in well and that you have all the information you need in order to enjoy the highest-quality lifestyle Arizona has to offer. Begin your plan moving to Arizona with Kathleen today. It's a buyer's market right now, so there are great opportunities for you to land the home of your dreams for much less than you ever imagined possible. Acquiring property foreclosures, short sales, and bank owned homes are ways you can save in today's market. As Certified Distressed Professional she can negotiate the best possible price and terms for you. Please browse through Kathleen's website and let Kathleen Mazzocco help you come home to Arizona,search the newest home listings at www.KathleenInAZ.com.