Yesterday marked the 2nd installment of a short sale webinar series provided by Bank of America. Many great tips and valuable information was passed on about a Government short sale program called HAFA, or “Home Affordable Foreclosure Alternatives”. While the program has been around a little while, it is only now gaining some traction. One of the key provisions of this program is that it fully relieves the homeowner from any liability down the road from the lenders involved.
A second key provision is that the homeowner might be eligible for some moving assistance, rather than jest being thrown out on the streets. I have created a FREE handout on short sales. Find by clicking here.
Help is available for those that seek it out. Find a competent professional that will help steer you through this process. The goal of any short sale program is to help homeowners stay in their home by first considering a loan modification. I discussed this with a friend last week. He knew someone that had tried to obtain a loan modification and was told no. The right questions will get “better” answers.
A recent report by Realty Trac, a leading foreclosure tracking service, shows that foreclosures are up in 75% of the markets across the country, with unemployment now driving the problem.
Visit my website for a Kansas City foreclosure property search
Ken Flaspohler
Broker/Owner with over 20 years experience.