Pleasanton Real Estate, HAFA and Short Sales in the San Francisco Bay Area and Tri Valley
Many people are trying to figure out what is happening with all the "buzz" in regards to Short Sales and this new HAFA program. Well, I can tell you that we are very excited to see that the Governement is finally realizing that if a person was not able to either refinance his or her home, was not able to modify the loan he or she had on the house and will not be able to keep the house any longer, the most viable option is a Short Sale.
3 years ago most people knew very little about Short Sales, most Realtors whether they would accept it or not, knew very little or nothing about Short Sales (Most still don't), but now things are changing, there are people out there with a lot of experience in the Short Sale field and that is exactly what you need to look for if looking for the Short Sale exit, experience!
No one thinks that Short Sales are easy, but they are possible and they are sometimes the best option available. A person should do everything he or she can to save that home, but if after trying all the available and legal options, nothing is working, it is time to let go of the house and move on with life.
The new HAFA program is a very interesting set of incentives that make the Short Sale even more attractive for many Sellers as well as for the Banks. For the last few years the systems in place for a Short Sale have been a nightmare, and the process could last anywhere from 3-14 months, I have seen it all!
With the new HAFA program Borrowers if qualified for a Short Sale will be fully released from future liability on the first mortgage (The seconds are always painful to deal with, but there are ways to handle them), also no cash contributions or promissory notes! basically you won't owe them a dime!...BUT you need to match certain criteria, there are no free meals in life...
HAFA has incentives for both Borrowers and Lenders, it comes with timeframes, which frankly i found unrealistic (they are too good to be true), the program is not perfect,but is a step forward.
Selling your house on a Short Sale means moving on with life, sometimes we refuse to accept certain realities, I did, I didn't want to accept that I overexposed myself to risk, that i bought too much of a house or bought too many houses, this cost me dearly, but I had to move on. I sold 2 of my own homes as Short Sales, but I have to tell you, it was the best thing I could have done. Since then I have closed over 75 Short Sales for clients (You can always call them and ask them), and I have seen the difference that doing a Short Sale has made in some of these folks, it is incredible!
I am not going to say that I am invincible, that I sold and closed every Short Sale, or that I am the best Realtor in the world (I am pretty good though) because I am sure that there a amazing Realtors outs there and besides I don't know the quality of the Realtors in France or Italy, so, no I am not the best Realtor in the world, but I know that I can help with what you are going through right now.
HAFA is a good move, Short Sales are not evil, and Realtors are not always bad! Please do your research, hire the best Realtor for your Short Sale, and if you are in my area, you should hire me.
Call us if you have nay questions, email us your comments.