Government Short Sale aka HAFA Program is about to expire...We have successfully helped thousands of homeowners short sale their property using the HAFA Program and other Bank Short Sale Programs just like this. Watch our quick video below to learn how you can short sale, owe nothing on your mortgage and get paid $10,000 at closing.

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HAFA program set to expire at the end of the year

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Frequently Asked Short Sale Questions

1. What is a short sale?

In a short sale, the servicer allows the homeowner to list and sell the mortgaged property with the understanding that the net proceeds from the sale may be less than the total amount due on the mortgage.

A short sale can provide mutual benefits for both the homeowner and the bank because it helps both parties avoid foreclosure.

2. What is the short sale process?

The Short Sale process at first seems extremely overwhelming but once you dive into it is really not that bad. Just take once step at a time.
 
When getting started you have to learn which short sale program you may be eligible for. This is very important because it will tell you exactly which documents are needed and if you’re eligible for a cash incentive to short sale your property.
 
Typical Short Sale Checklist:
1.  Financials – include bank statements, pay stubs & tax returns.
2.  Hardship letter – must be signed and dated and clearly explain why you need to relocate or have     not been able to make your monthly obligation
3.  Bank specific documents requesting a short sale which typically include a monthly expense sheet.
 
Other items needed like the Listings Agreement, Sale Contract & Closing Statement will be supplied by the Realtor and Title Company you choose. When choosing a Realtor is is important that you choose a  Realtor who understand the short sale process as there are various tasks they will need to perform. You will also need a Title Company who understand the process so that they can  do preliminary searches making sure there are no other liens that would prevent the closing.
 
The next step in the short sale process is submitting all the documents to the bank so that they can verify and then order a home valuation. The home valuation process in a short sale is pretty simple, the bank will order a BPO (Broker Price Opinion) or an actual appraisal. This is very important step and it is important for your Relator to make sure that they have an accurate value. To high and then you wont be able to obtain offers, the good news is their is a process to dispute any in accurate values so typically one way or another it comes together.
 
Once value is obtained and assuming the contract meets the banks demand. The file is reviewed by management and the investor whop actually owns the mortgage note (I.E. Fannie Mae, Freddie Mac, etc.) This part of the short sale process usually takes about a month, in fact there is some new regulation that says they are to respond to an offer in 30 days or less.
 
Assuming Bank/Investor agree to the offer, they will then issue a short sale approval. At this point you will have the opportunity to review  the terms of the short sale approval. Providing you agree then the closing will move forward and you will typically have about 30 days to relocate.
If any financial incentive is being offered you will receive at it closing when you sign the closing documents.

3. What are short sale incentives?

Cash short sale incentives programs are used by banks to entice a borrower(s) to short sale their home. It is important to understand that a short sale can be an overall benefit for both the borrower and the bank/lender. Typically, banks will not only pay a cash incentive to you if you agree to short sale but they will also waive any deficiency of balance as well. The reason they do this is because in a short sale the bank/lender will typically end up with more money than if they’d foreclosed.

Get Started - Download our Free Short Sale Starter Package

HAFA Program set to expire at year end.

4. Who is whatisashortsale.org and why can they help me for free?

Since 2009, Whatisashortsale.org has helped homeowners who were either behind on their monthly payment, in foreclosure or just owed more than their property is worth. We helped all of these homeowners by first educating them about what short sale programs exist and then showing them how to apply for these programs. Then, we helped them successfully complete a short sale at no expense to them. We can do the same for you.
 
Why We Can Help You… In a typical real estate closing a Title Company and a Realtor get paid to provide their services. Banks are willing to allow for these services. This means you can work with a Title Company and Realtor and your bank will pay for it. We have top vetted Title Companies &  Lincensed Agents who we know can help you.
 
Together we can take control of your situation.
Get Started - Download Free Short Sale Starter Package

HAFA Program set to expire at year end. Dont miss this opportunity.

5. What if I’ve already been turned down for a short sale?

We can still help. We found many people we helped were originally denied to do bad process. Unfortunately, there has been many services and/or individuals that took on the short sale process and didn’t completely understand what needs to happen next. No fault to them if they did not know but If you are not constantly staying on top of the bank to make sure they always have what they need and that all documentation is current, the bank can issue a denial or closed file.

6. Can I purchase a  home again?

Yes, more and more banks have chosen to ease up on their guidelines for people who took responsibility and chose a short sale rather than foreclosure.

7. What happens to the balance of the mortgage?

Under a HAFA Program Short Sale you are no longer responsible for the debt of the mortgage.

Get Started - Download Free Short Sale Package

HAFA Program set to expire at year end. Dont miss this opportunity.