Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate

Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
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Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate








Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate

 

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CDPE: Avoiding Mortgage Modification Fraud

Cash For Short Sales

Unaffordable mortgage? Now you have more incentives to act! Maybe you've had an unexpected income shortfall. Maybe you're experiencing sudden expenses like medical bills. Whatever your solution, you are not alone in having an unaffordable mortgage. The past two years in the housing market have shown a growing need for solutions in foreclosure avoidance, and the government is leading an initiative to provide those solutions.

The initiative is called Making Home Affordable, and one of its programs is the Home Affordable Foreclosure Alternatives Program, or HAFA.

Also known as the "April Program", HAFA is designed to help homeowners whose mortgage payments are too big for a loan modification to lower them to affordable levels. Loan modifications, which are handled by other programs under Making Home Affordable , can lower interest rates for those who are just out of reach of making their payments.


The biggest benefit HAFA provides to homeowners is a $3,000 incentive for a successful short sale or deed-in-lieu, two foreclosure alternatives.

HAFA sets timeframes on the short sale process to increase the chances of success and shorten your waiting time. By also providing incentives to the lender, the program gives every party a further reason to avoid the foreclosure process.

 

SPECIFICS
A short sale is when the lender agrees for the property to be sold at a price lower than the mortgage balance owned.

A deed-in-lieu is when the lender receives the house deed in place of the mortgage balance, although in some cases the lender will still pursue the homeowner for the leftover mortgage balance, which is called a deficiency judgement. A HAFA short sale or deed-in-lieu prohibits the participating lender from pursuing a deficiency judgement.

 

 

THE REAL INCENTIVES

While the $3,000 homeowner incentive is a very appealing reason to pursue a short sale, it doesn't compare to the huge benefits of avoiding the foreclosure process. Here are some of the reasons why a short sale is a far better route for financial stability.

  • A short sale will only lower your credit score by as little as 50 points, as opposed to the 250 to 300 point drop from a foreclosure.

  • A short sale is not reported on your credit history. Foreclosure IS reported for at least 10 years.

  • Current and future employers actively check the credit of their employees, and a short sale will keep that credit check clean and free of negative reports.

  • You will be eligable for a Fannie Mae-backed loan just two years after a short sale, as opposed to five years after a foreclosure.

  • In some traditional short sales, and ALL HAFA short sales, the lender is prohibited from pursuing the homeowner for a deficiency judgement. That is not nthe casewith a foreclosure.

  • If you ever pursue employment that involves a security clearance (police, military, CIA, etc.), you will need to worry about a short sale creating a challenge for that clearance, since it will not be reported on your credit.

  • If a loan with any mortgage company, a standard question asked is "Have you had property foreclosed upon or given a title or deed-in-lieu thereof in the last seven years?" Going through a short sale will allow you to answer "no" to this question.

As you can see, a short sale allows you to sidestep many of the damaging effects of foreclosure. For that reason aloe, you deserve to find out if a short sale will work for your solution.

Once you add the $3,000 HAFA incentive to pursue this foreclosure alternative, it is hard to ignore the value of pursuing a short sale. Not everyone will be eligable for HAFA Program, so you need to find out if you are. Contact me today so that we can access your situation and figure out what your best possible options are.

 


As a CDPE-designated agent, I have been extensively trained in the full range of foreclosure alternatives for distressed homeonwers, and I'm ready to help you get started on a path to a more stable tomorrow."

Jerry Lee Hatley

 

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Contact me today and let’s get started!
Jerry Lee Hatley
Re/Max Mountain Realty
P.O. Box 1351, Maggie Valley, NC 28751
cell: (828) 230-1082
email: jerryhatley@bellsouth.net

CDPE website: http://www.hosted.cdpe.com/167450/

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Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate

Short Sale Specialist: Jerry Lee Hatley
Foreclosure is NOT
your only option!

Short Sale Incentives:
Why Banks will Give You Money to Sell the Home You Can't Afford

The nation’s leading mortgage lenders are extending extras for short sale transactions employed as an alternative to foreclosure – both in the form of monetary incentives for borrowers and streamlined procedures for real estate agents. read more.......

Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
   
Jerry Lee Hatley | RE/MAX Mountain Realty | Maggie Valley NC Real Estate
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