Rosemary Brooks posted this valuable piece on her blog giving consumers the options for people that may be considering a short sale.
I read a blog that warned that we should be careful what we write about - especially when it comes to
Short Sales. If we are not sharing the correct information with the homeowners - we are really not helping the situation.
So I thought that the best way to share what the MHA / HAMP / HAFA / programs are about and what is -à hot and straight from the horses' mouth (so to speak) is to just post the links that I want to share with my readers.
So when we share with you information about (as an example) short sales.... We are doing this to keep you the homeowners that need to know the latest about what programs are out there to offer you more options and to tell you how they are set up to work....we are doing this to help.
So "Click it" in my opinion is giving this to the homeowners to read about what is going on for themselves. Yes, it's a lot of reading but it will help you to know exactly what we are writing about. When we give opinions that is what they are -à Opinions. Click it and read for yourself.
If you have questions (and you probably will) give a call (in this order)
- Your servicer - there to help you with your options
- Your agent - if you do not have one - get one
- Your tax man & any other professional that can help you in making a good/solid decision for you and your family.
This way, at your leisure you can click it and go straight to the horse's mouth for the latest update on the HAMP and HAFA programs.
- MHA - read about the overall program and
- HAMP (Home Affordable Modification Program) and
- HAFA ( Home Affordable Foreclosure Alternative)
These two programs are both a part of the MHA (Making Home Affordable) program and I am sure you will be hearing and reading a lot more about these programs this coming year and for a long time to come or at least until the Foreclosure Crisis is crisis no more!
So start here and education yourself on what's going on with these programs (lot of reading). And once you have finished call your mortgage servicer and ask them any questions you may have and they should be able and willing to inform you of your options and allow you the opportunity to apply for a loan modification.
If you should get to the "I need a real estate agent" stage, call an agent that is in your local area and one that is educated on these programs and how to list and sell a short sale property.
http://makinghomeaffordable.gov/
Making homes affordable
https://www.hmpadmin.com/portal/docs/news/hampupdate113009.pdf
HAMP: Update - New Program offered to help homeowner with foreclosure alternatives
https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf
Supplemental Directive 09-09 (43 pages)
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre24.shtm
Need Credit or Insurance - your credit score will determine how much you will pay
OBAMA Administration releases new data on Modification program
http://makinghomeaffordable.gov/news.html
Press Releases on Making Homes Affordable
And as a reminder: When I post articles, I do my best to be sure that the information is correct that I post and I am sure most agents do as well. The market is in an uncertain place right now it is no surprise that even real estate professionals are at a lost of what is going to happen, where are we and what the (hay) is going on! So click it and read with us!
Rosemary Brooks
Patrick Williams & Associates
the Mother and Daughter Realty Team
PH: 866-543-0461
FAX: 866-815-1649
EMAIL: info@motheranddaughterrealtyteam.net
WEBSITE: www.motheranddaughterrealtyteam.com
Thank you Fernando, I hope that homeowners will click it and read it and give us a call if they have questions or need our help. Thanks for the re-blog.
Merry Christmas to you and your family from me and mine. God bless.