ARE YOU FACING FORECLOSURE? THERE ARE ALTERNATIVES

 

Are you facing foreclosure? Are you still not able to make your payments under a modification program? Instead of a foreclosure, there may be other alternatives. You may qualify for a Short Sale or a Deed-in-Lieu of Foreclosure under the Government HAFA program.

 

To qualify for the HAFA Program, you must meet certain conditions which include:

  1. The Property is your principal residence;
  2. The mortgage is a first lien mortgage and it originated on or before January 1, 2009;
  3. You are delinquent or will be delinquent in your payments;
  4. The current unpaid principal balance is equal to or less than $729,750 (this amount is higher for 2 to 4 unit dwellings); and,
  5. Your total monthly mortgage payment exceeds 31% of your gross income.

If you qualify for the HAFA Short Sale program: 

  1. You may not be required to make any more mortgage payments;
  2. You may not be required to pay a cash contribution or enter into a promissory note with the mortgage company for the deficiency;
  3. The lender may not pursue a deficiency judgment against you; and,
  4. You may be entitled to $3,000 for relocation costs once your home is sold.

Call me for more information.

 

Karla Casey
Principal Broker
Casey & Associates
Karla@kcaloha.com
808 366 4306
www.KarlaCasey.com