The Home Affordable Modification Program provides eligible homeowners the opportunity to modify their mortgages to make them more affordable. Over one million homeowners have already gotten help under the program. The program is on track to offer help to 3 to 4 million homeowners by 2012.The Second Lien Modification Program (2MP) offers homeowners a way to modify their second mortgages to make them more affordable when their first mortgage is modified under the Home Affordable Modification Program.
The Home Affordable Refinance Program gives homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments.
The Home Affordable Foreclosure Alternatives Program provides opportunities for homeowners who can no longer afford to stay in their home but want to avoid foreclosure to transition to more affordable housing through a short sale or deed-in-lieu of foreclosure. Call 1-888-995-HOPE (4673) to learn about Making Home Affordable and to speak with a HUD-approved housing counselor for free. If you are having difficulties working with your mortgage company, ask for “MHA Help”.
A short sale is a negotiated settlement in which a short pay occurs, and a lender agrees to accept less than the amount owed to payoff a home loan as an alternative to foreclosure. The lender often agrees to a short sale because they know if they take the property back through foreclosure they will often incur and even greater loss.
If you have tried a loan modification using HAMP and are not eligible, then you should contact me about using HAFA (Home Affordable Foreclosure Alternative) where: Lender gives signed pre-approval for short sale signed by lender, seller and real estate agent; Listing Agreement signed to allow showing the property; No additional negotiating when you receive an offer; Offer must be submitted to lender in 3 business days; Lender must accept or decline the offer in 10 business days; Closing must take place 45 calendar days minimum but could be longer.
In today’s complex housing market, real estate agents are handling an increasing volume of short sales. While many agents view short sales as a win-win for both homeowner and buyer, they can cause many complications if not properly understood and executed. Since there is no provision in the mortgage agreement for a short sale, the primary lien holder—the mortgage servicer—must approve the homeowner’s request for one. Any additional parties with liens against the property, such as a second mortgage holder, must also approve the request before a short sale can commence. While each short sale scenario is unique and includes numerous variables, the primary benefit to the homeowner is simple—it lets them avoid foreclosure on their credit record at a time when a good credit history is critical for financial and personal reasons.
I am experienced in the process so if you have any questions feel free to call and I will do my best to find an answer.
http://www.lasvegasnevada.gov/ http://www.accessclarkcounty.com/ http://ccsd.net/schools/zoning/zoning/zoning.php http://www.accessclarkcounty.com/depts/assessor/pages/Disclaim.asp