Category Archives for "2015 HAFA Short Sale Update"
2015 HAFA Short Sale Update.
Starting Feb 1st 2015 short sales being processed via the HAFA program will allow the seller to walk away with $10,000 at the close of escrow. This $10,000 is for the seller to use for relocation costs. Prior to this change relocation assistance was caped at $3,000.00
Also, current HAFA guidelines state that first lien holders will also provide $8500 from sale proceeds to junior lien. This has now been changed to $12,000.
How to Short Sale your Temecula home in 2015.
With the Temecula home market recovering in most areas of town, less homeowners are needing to use the option of doing a short sale to sell their Temecula homes. So are short sale going to be easier or harder to get approved in 2015?
Most of the larger lenders have laid off or reassigned much of their loss mitigation staff. The short sale departments now have less time and staff to review each short sale submitted to them. I feel it’s not going to be as easy to get a short sale approval in 2015 and if your agent submits a weak short sale proposal forget about getting that Temecula short sale approved.
How are you going to get your short sale approved in 2015.
The banks are not giving the large discounts any longer. They are demanding sales prices at or near full market value. Some lenders are even asking above market value/prices (Fannie Mae) when issuing their short sale approvals!
Get your home looking it’s best. You are now having to compete with the standard sales around you here in the Temecula and Murrieta valley.
I know it’s a pain but complete ALL the documents your lender throws at you (this is very important).
And seek out the best short sale specialist in your market (critical).
Some good news! Incentives and Relocation funds for sellers doing a short sales in 2015 have increased!
The US Treasury dept has a short sale assistance program called HAFA that as of February 2015 now is giving home owners up to $10,000.00 at the close of a short sale. See my YouTube video on this new incentive!
How do you find the best Temecula short sale specialist to work with?
This is the easy part. Just ask Google,Bing or what ever internet browser you use.
Typical search terms you should type in would be……
Short Sale Specialist, Short Sale Expert, Short Sale Agents. To make your search even more accurate in finding the best short sale agents in your local area is to add your location/city in front of your search phrases. Here’s are some examples. If you live in my area which is Temecula Ca you would then type in the phrases below….
Temecula Short Sale Specialist or Temecula Short Sale Expert or Temecula Short Sale Agents.
Get a fresh start in 2015. It’s not to late to short sale your Temecula home. What this going to cost? There is never any out of pocket costs to you the homeowner to have the best Temecula Short Sale Agent on your side..