SHORT SALE INFORMATION 

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a bowers cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid  foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.
FOR MORE INFORMATION ON WHAT A SHORT SALE IS?
                   PLEASE CLICK HERE

BEFORE YOU CONSIDER THE OPTION OF SHORT SALE FOR YOUR PROPERTY, PLEASE CHECK WITH YOUR LENDER TO SEE IF YOU CAN "STAY" IN YOUR HOME?  CALL ME IF YOU NEED ASSISTANCE ON HOW TO APPROACH SPEAKING WITH YOUR LENDER. THERE ARE PROGRAMS TO HELP YOU BOTH STAY IN YOUR HOME/HAMP PROGRAM & HELP YOU SELL YOUR HOME HAFA PROGRAM.

NEW PROGRAM (HARP)

If you owe less than $729,000 on your mortgage and live in Florida, you may qualify for the new regulations and the Affordable Home Program. Under this new plan, the government is trying to force the banks to cut your mortgage payments by up to $12,000 a year…But not all banks want you to known this. Why? Because there are 2 Important Loop-Holes: 1. Most Florida Homeowners are Pre-Approved & 2. Most Credit Types are Accepted. You must act fast, this is a limited time chance to refinance your house at all-time low refinance rates (as low as 3.162% APR), drastically lower your mortgage payments and even take cash out of your house.

Home Affordable Plan Benefits For Homeowners:

  • Who want to refinance with new rate to take cash out of the equity in their home
  • Average Savings of $275 a month
  • Cash-out options, which allow you to access the equity in your home
  • With previous late mortgage payments (some limitations apply)
  • Defer 1-2 mortgage payments
  • Whose home may need to rehab, upgrading, or modernization
  • Seniors who would like to supplement their income using the equity they’ve built
  • Who may just want to lower their interest rate or monthly payments



    CLICK HERE!

    Home Affordable Modification Program (HAMP)
if you're not unemployed, but you're still struggling to make your mortgage payments, you may be eligible for the Home Affordable Modification Program (HAMP). HAMP can lower your monthly mortgage payment to 31 percent of your verified monthly gross (pre-tax) income, which usually provides savings of hundreds of dollars per month.


-TO STAY IN YOUR HOME AND REFINANCE OR MODIFY YOUR MORTGAGE IT MAY REQUIRED THAT THE HOME IS A PRIMARY RESIDENCE.

                                   TO GET INFORMATION ON HOPE FOR HOME OWNERS 
                                                    HELP YOU SAVE YOUR HOME
                                               PLEASE CLICK HERE

The HAFA Program - Foreclosure Alternatives for Homeowners

Understanding the Short Sale / Deed-in-Lieu guidelines and application process

The Home Affordable Foreclosure Alternatives (HAFA) program is for borrowers who, although eligible for the government Home Affordable Modification Program (HAMP), are not able to secure a permanent loan modification or cannot avoid foreclosure. HAFA provides protection and money to eligible borrowers who decide to do a Short Sale

IF YOU ARE TOLD YOU CAN'T MODIFY THERE IS STILL HOPE TO IF YOU COOPERATE IN THE SHORT SALE PROCESS. SOMETIMES THEY REWARD YOU WITH "CASH" Borrowers receive $3,000 for relocation assistance & more in some cases but you must qualify. More information on the link below.

THE LINK BELOW WILL EXPLAIN THE HAFA PROGRAM.

                                                 PLEASE CLICK HERE

-TO CHOOSE THE SHORT SALE OPTION CAN HELP YOU TO SAVE YOUR CREDIT FROM A FORECLOSURE. 

-IN BOTH FORECLOSURE AND SHORT SALE THE LENDER/MORTGAGE HOLDER/BANK, CAN STILL COME AFTER YOU FOR THE BALANCE OF THE LOAN AMOUNT IF THEY CHOOSE TO OVER THE NEXT 5 YEARS AFTER THE SALE OR FORECLOSURE.  CURRENTLY THE LAW HAS CHANGED SOME AND CAN FORGIVE THE AMOUNT OWED IF THE PROPERTY WAS A PRIMARY RESIDENCE. 

***IF THE HOME GOES INTO FORECLOSURE THE AMOUNT OF LEGAL FEE'S ETC WILL  ADD THOUSANDS TO THE DEFICIENCY SO "SHORT SALE" SAVES MONEY, POINTS ON YOUR CREDIT SCORE AND YOUR ABILITY TO BUY A HOME FOR THE NEXT 3 YEARS IS STILL A POSSIBILITY. 

                                           CLICK HERE TO LIST YOUR HOME

TO GET STARTED I WILL NEED

-PROPERTY ADDRESS
-HOW MANY BEDROOMS?
-BATHS ?  HALF BATHS?
-GARAGE 1? 2? 3? CAR
-POOL YES? NO?
-LENDER/MORTGAGE COMPANY?
-DO YOU HAVE A SECOND MORTGAGE?
-LOAN NUMBER?   1ST ?      2ND?
-HOW MANY PAYMENTS ARE YOU BEHIND?

***YOU MUST BE BEHIND ON YOUR MORTGAGE PAYMENTS TO SHORT SALE YOUR PROPERTY (TYPICALLY 2 PAYMENTS BEHIND AT LEAST)
***YOU MUST BE THE PRIMARY HOME OWNER AND THE MORTGAGE HOLDER AS WELL. 

EMAIL ME THE ABOVE INFORMATION
LAJOIECENTURY21@CFL.COM
PUT SHORT SALE LISTING AND YOUR ADDRESS IN THE SUBJECT LINE

DOCUMENTS NEED FOR A SHORT SALE (MOST CASES I WILL PROVIDE THE FORMS NEEDED BELOW)
                               -AUTHORIZATION LETTER (FORM)
                               -TAX RETURNS FOR THE PREVIOUS 2 YEARS
                               - W2'S OR 1099 FOR THE PAST 2 YEARS
                               -BANK STATEMENTS FOR THE PREVIOUS 2 MONTHS
                               -FINANCIAL STATEMENT (FORM)
                               -HARDSHIP LETTER (FORM)
                               -PROOF OF ALL INCOME FOR PREVIOUS 2 MONTHS
                               -IRS FORM 4506T (FORM)
                               -CARRYING COSTS (FORM)
                               -SELLERS CERTIFICATION STATEMENT (FORM)
                               -PRELIMINARY CLOSING WORKSHEET (FORM)

***YOU WILL NEED TO UPDATE YOUR BANK STATEMENTS, PAY STUBS EVERY 30 DAYS OR WHEN I GET A BUYER FOR YOUR PROPERTY. PROVIDING ALL THE NECESSARY DOCUMENTS IF VITAL TO A SHORT SALE.