Not Sure If You Qualify For a Short Sale?
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Arrow Realty is a leader in short sales. Unfortunately the real estate market is not going to change anytime soon. A lot of very good people have been caught by this recession and we are here to answer any questions you have.
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Obama Administration’s Short Sales Program under Making Home Affordable
On November 30, 2009, the Obama Administration released guidelines and uniform forms for its Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is part of the Home Affordable Modification Program (HAMP) and provides incentives in connection with short sales and deeds-in-lieu of foreclosure. NAR had urged the Treasury Department, the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac to take such action to improve the short sales process. Key features of HAFA include determination by the servicer, up front, of required net proceeds and acceptable closing costs; deadlines at each step of the process; and prohibition against reducing real estate commissions below the amount in the listing agreement (but not to exceed 6%). Servicers participating in HAMP must implement the new program no later than April 5, 2010.
Call Arrow today to get a personal meeting about your situation….(916) 780-2010
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