HAFA Program Revives Your Short Sale Options

Some homeowners who want to sell their homes fast may have written off the HAFA program. Many people simply didn’t meet the necessary requirements the first go-round. However June 1st brought a series of new requirements for sellers who are underwater with their mortgages.

It may be time to take another look at doing a short sale.

If you didn’t qualify last year and got further behind on your payments, you might want to open that HAFA door again. If you want to sell your home to a San Antonio home buyer, you may qualify right now (even if you didn’t before) and resolve a crisis that is steadily marching toward foreclosure.

First let me tell you, no two people who want to sell their homes fast are even slightly similar! Every one is different.

Since I swim in the world of home buyers in San Antonio, I’ve seen all the statistics, charts, numbers and facts. You can virtually drown in them. Everyone seems to want to quantify this industry and the mortgage situation in general.

But after countless pie charts and graphs, when it all comes down to a decision to buy or sell, each transaction is unique. Every home owner I talk to has a “one in a million” situation.

The homeowner who is behind on payments has probably been in the unfortunate situation of telling their story too many times to count:

  • maybe to a bank,
  • maybe to a realtor who came by wanting to list the house for a short sale,
  • maybe to a disapproving relative (yikes!),
  • maybe in a for a “hardship letter” for a loan modification application…

Fact is, I don’t enjoy hearing these sad stories, but the great thing about my business is that many times I can actually help the homeowner do something about it. A short sale allows the homeowner to walk away with their credit in tact and real financial hope for the future.

In almost all cases, homeowners share one thing in common: you need to sell your house fast. The nasty word “foreclosure” may have been mentioned in letters and phones calls and you want a solution before it comes to that!

That’s why you need to know all your options; so you can choose the right one for you and your family.

Recently, the HAFA process was reset to make short sales more streamlined. They are promising quicker results now! Instead of sitting on pins and needles waiting for a decision from “on high” you will get weekly updates on the process, which should now take no more than 60 days. HAFA also eased some requirements so that more homeowners qualify. This is good news for many people.

The following updates to the HAFA (Home affordable Foreclosure Alternatives) Program took effect June 1st:

  • The deadline for HAFA has been extended until December 31, 2013 to submit a Short Sale Agreement or consideration request.
  • The property no longer has to be occupied as a primary residence to be eligible for HAFA.
  • 2nd lien holders’ possible amounts increased from $6000 to $8500.
  • If the borrower can make a full payment in order to stay current on the loan, the loan service can accept it.

Although there is a lot of work involved to get the short sale transaction done, it could mean the difference between foreclosure and a graceful exit from a home you can’t afford anymore.

No one — neither the homeowner nor the banks — wants a foreclosure! A short sale is a glowing alternative. With the new HAFA guidelines, it makes eve more sense to talk with a buyer about a short sale purchase.

We work with San Antonio homeowners to understand their unique situation and if it makes sense to pursue a short sale.

As San Antonio home buyers, we don’t make you wait for the right seller to come along. We’ve been known to buy all kinds of houses (even the ones that need work) from all sorts of folks who want to sell their home fast. 

There is never a fee to simply start a conversation about doing a quick deal with Markette Properties. We can walk you through the hew HAFA guidelines and any other options you may be considering if you’re behind on payments.

If you’re in a hurry to resolve a crisis, we’ll work with you. And wouldn’t it be nice if this were the last time you had to tell your story?

We can buy your house fast in Texas! Markette Properties presents an unique, simple approach for selling your home! We are real estate investors. We buy houses in Texas just like yours! We are dedicated to the highest professional real estate standards for all of our clients.

Do you want to sell your house fast in Texas for top dollar with the least hassle? Give us a call! (210) 853-2788 or click the button below.


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Photo Credit Flickr CC: Gennady Litvin

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