Services for Real Estate Pros	RAINER 4,645
	Justine Kesary
	location_on San Diego, CA — My Short Refinance Professional
	insert_link http://www.sandiegoshortrefinance.com/
	web Justine Kesary's (myshortsalepro) Blog

Do you want to learn how to do short sales yourself?

I have being closing short sale since 2005 and have contact in most of the banks, big and small.

I will teach you everything and go through all the steps one on one with you and help you learn the process to close your short sales. 

Only when the entire process has been completed and only if the deal is closed I will charge a small fee.

From then on you should be able to close all your own deals.

LEARN HOW TO DO SHORT SALES YOURSELF FROM START TO FINISH -
EARN MORE MONEY -
LEARN HOW TO NEGOTIATE -

Recent Posts

HAFA Provisions

Complements HAMP by providing a viable alternative for borrowers (the current homeowners) who are HAMP eligible but nevertheless unable to keep their home. Uses borrower financial and hardship information already collected in connection with consideration of a loan modification. Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds). Requires borrowers to be fully released from future liability for the first mortgage debt (no cash contribution, promissory note, or deficiency judgment is allowed). Uses standard processes, documents, and timeframes/deadlines. Provides the following financial incentives: $3,000 for borrower relocation assistance; $1,500 for servicers to cover administrative and processing costs; Up to $2,000 for investors who allow a total of up to $6,000 in short sale proceeds to be distributed to subordinate lien holders, on a one-for-three matching basis. Requires all servicers participating in HAMP to implement HAFA in accordance with their own written policy, consistent with investor guidelines. The policy may include factors such as the severity of the potential loss, local markets, timing of pending foreclosure actions, and borrower motivation and cooperation.

HAFA Rules, Guidelines and Qualifications

Do you know the rules and guidelines for the HAFA short sale program? Do you qualify? Unfortunately, not everyone does. To qualify, you must own a home that was purchased before the year 2009. In addition, you must be living in the home as your primary residence, and must have been previously considered for other foreclosure prevention options including loan modification.

Borrowers must also meet HAMP eligibility, but can be either delinquent or current on their mortgage payments. Even if current, the borrower must be able to demonstrate financial hardship.

Here are a few guideline questions to ask yourself to determine your eligibility:

1) Is your home your primary residence? In other words, if you have multiple residences - do you spend most of your time in this residence?

2) Is the amount you owe on your first mortgage equal to or less than $729,750? (Do not include the total of your second mortgage.)

3) Are you having ongoing financial trouble that makes it difficult for you to make your mortgage payments each month?

4) Did you get your current mortgage before January 1, 2009?

5) Is your monthly payment on your first mortgage (including principal, interest, taxes, insurance and homeowner's association dues, etc) more than 31% of your current gross income?

If your answers to all five of these questions are "yes", then it is very likely that you qualify to receive assistance through the HAFA program. If you answered "no" to one or two questions, you may still qualify.

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An FHA Short Refinance, also known as a short payoff, is a transaction, where the lender agrees to accept less than the full amount owed. http://www.sandiegoshortrefinance.com/