Changes To HAFA Program Don’t Guarantee Relocation Assistance

Posted on Jan 12, 2013 in Roseville and Sacramento Short Sale FAQs

Hello everyone Mark Peek here with Keller Williams Realty in Roseville and Sacramento thank you for your time today. I work with distressed property owners in Roseville and Sacramento every day and use this blog to keep residents informed on their options for avoiding foreclosure. If you have seen the value of your home greatly reduced and are considering a short sale browse my website or call my office to chat with an expert about all of your options.

For my blog today I wanted to talk with Roseville and Sacramento homeowners about HAFA relocation assistance and who may qualify. There have recently been some big changes made to the HAFA program that I wanted to share with Roseville and Sacramento homeowners. One of the biggest benefits of the HAFA program is the three thousand dollars in relocation assistance for completing a HAFA short sale. Recently HAFA announced that this relocation assistance is not guaranteed if the homeowner vacates the home before the short sale is completed. If that relocation assistance is needed for getting caught up on other bills or finding a place to rent this will be very important. There are several programs that offer short sale incentives but it is important for Roseville and Sacramento homeowners to remember that not everyone will qualify. If you are considering a short sale and curious what programs you may qualify for please stop by my website or contact me today.

On my website you can fill out a contact form and an experienced short sale agent will reach out to you in the near future. While browsing my website you can also try my Short Or Stay Calculator to discover if a short sale is right for you. Thank you for your time today and I hope to help you soon with any Roseville and Sacramento real estate problems.

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HAFA Short Sale Leaseback Program Information

Posted on Sep 26, 2012 in Roseville and Sacramento Short Sale FAQs

Thanks for coming to my blog today, I’m Mark Peek, your short sale specialist at Keller Williams in Roseville and Sacramento. I wanted to talk today about whether or not you can stay in your home after completing a short sale.

Typically when we do a short sale, the banks require an arm’s length transaction affidavit; most of them require all parties (agents, buyers, sellers) to have a notarized affidavit. This makes it a serious thing. Basically, they’re ensuring that there aren’t any business relationships or any other side deals going on that aren’t disclosed to the bank, such as the seller maintaining occupancy after the close of escrow or the seller renting the property back. This is with a standard, traditional short sale.

There is a short sale leaseback option available, however it depends on the investor and the home has to be sold to a qualified non-profit organization. If you think you might be interested or would like to see if you qualify for this, you could potentially, through a certain program in HAFA, do this. If you chose to do this, you wouldn’t sign an arm’s length affidavit and this deal would be fully disclosed to the lender. Not everyone will do this; it really depends on who your servicer and lender are. Do you qualify for this? Is this something you might be interested in? After your leaseback time period, you could possibly repurchase your home again at a price that’s determined by the non-profit.

If this is something you might be interested in or if you would like information on short sales in general, give me a call or click Start at the top of the page to provide your information. We can discuss whether or not doing a short sale with a leaseback might be a good option for you.

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