Archive for Short Sales

Can I Use the HAFA Short Sale Program in Moorpark?

Moorpark Short Sale Realtor, The Best Short Sale Agent in Ventura County, CA, The Best Short Sale Realtor in Ventura County, CA, The Best Certified Short Sale Specialist in Ventura County , CAIn times of real estate crisis, there are various homeowners who are having a difficult time coping with their mortgage payments; plus, they face the chance of foreclosure being a possibility. In addition, behind these expected foreclosure cases, there are many stories running beneath them.

It is not a shock to hear depressing financial stories of hardship due to one being laid off and thus, lost his source of income. There are stories that speak of financial difficulty of homeowners because of increased mortgage payments. Or stories in SITEAREA wherein a household is simply having difficulty balancing their financial sheet because of unexpected increase in expenses for various reasons. All of these stories are possible reasons that prompt most homeowners to file for a foreclosure on their properties.

Usually, the answer for this financial problem is to choose for a short sale instead. This alternative is generally the answer homeowners resort to so that they resolve their financial problem and recuperate from the hardship in SITEAREA they are currently experiencing. In times like these of economic slump, short selling your home is as challenging as the current issue homeowners are experiencing.

The good news however, is that the government has sponsored a program called Home Affordable Foreclosure Alternatives (HAFA). So, what is the HAFA short sale program then?

Below is information about HAFA and how this may fix your foreclosure problem and instead get a short sale.


HAFA is a short sale program initiated by President Obama as part of his Making Home Affordable Program or HAMP. Essentially, it assists sellers getting a short sale in a matter of days.

This program will be put into action from April 5, 2010 to December 31, 2012. The HAFA program has its goal and a promise of a short sale approval within 10 days. In addition, it promises the seller of up to $ 3,000 cash upon closing of the deal for relocation and other incentives.

Who Are Eligible for HAFA Program?

Ventura County Short Sale Realtor, The Best Short Sale Agent in Ventura County, CA, The Best Short Sale Realtor in Ventura County, CA, The Best Certified Short Sale Specialist in Ventura County , CAAs there are many stories that run in the undercurrent of every looming foreclosure, what HAFA desires to address is the delivery of short sales within days for those that can meet the criteria to apply for this program.

It must be taken note that there are only five criteria in order to be qualified for the HAFA program, yet all criteria must be met so that an interested homeowner may apply for this foreclosure option program instituted by President Obama.

Criteria for HAFA eligibility:

o The program is appropriate only to personal residences

o Since there is a mortgage involved here, the amount of mortgage should not exceed $ 729,750

o The homeowner should be experiencing financial crisis such as loss of a job that translates to loss of source of income to pay for the mortgages. The borrower can be fit for one by experiencing a steady increase in mortgage payments, by which he cannot cope with it. And finally, the homeowner should be experiencing an unexpected increase in expenses such as emergency medical needs and similar urgent expenses.

o The mortgage should also have originated before January 1, 2009

o The principal, interest, taxes, and insurance (PITI) mortgage payment, including those of Homeowners Association (HOA), should be more than 31% of the borrower’s gross monthly income

A homeowner should keep in mind that in order to apply for the HAFA short sale program, these criteria must be met. A ‘NO’ response to any one of these criteria can mean ineligibility in the HAFA short sale program.

Can’t Get Pass through HAFA? The Strategy

What if a homeowner failed to pass the criteria set by HAFA thus rejected on short sale program?

The homeowner can take the first option of seeking in SITEAREA the help of a professional short sale agent. Short sale agents are usually knowledgeable about the intricacies of government-sponsored programs like the HAFA short sale program. They can help the distressed homeowner maneuver a way to get included in the alternative short sale as offered by the US government.

HAFA’s Short Sale Agreement (SSA)

The Short Sale Agreement or SSA of HAFA requires the homeowner to find a buyer to complete the transaction not less than 120 calendar days starting from the date the SSA is mailed to the homeowner. The homeowner however, has the in SITEAREA option to extend this deadline for another 245 days. This will then give the homeowner a total of 12 months to find a buyer for his home and complete the transaction for the short sale.

It is also contracted in the SSA that the transaction must be at ‘arms-length.’ Moreover, the end buyer must also agree that he would hold on to the house for at least 90 days after the transaction has been completed. The SSA also provides the listing real estate agent an undiscounted 6% commission.

Moorpark Short Sale Help, Certified HAFA Specialist, Certified Distressed Property Expert and Certified Pre-Foreclosure Specialist.What the HAFA short sale program essentially emphasizes is the need of those who are experiencing financial trouble, which may then lead to unpaid amortizations and an ugly looming foreclosure. This program is designed for homeowners who believe that it is a wiser decision to simply walk away and turn to short sale than end up with nothing when a foreclosure is bound to in SITEAREA happen. This is also an ideal alternative program for those who want a quick short sale for foreclosed houses. There may be some complexities involved in this program, but for those who are in financial trouble; this is certainly a good deal that should be taken with serious consideration.


Thanks for reading this,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823.

Certified HAFA Specialist, Certified Short Sale Specialist, Certified Distressed Property Expert

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Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor, ,
Certified Home Affordable Foreclosure Alternative Specialist . Always check with a good real estate attorney to find out the laws in your state. There are also legal aid non profits that can give you advice on what to do to stop a garnishment or bank account seizure. You should also look at California SB458. With the passage of SB458, the Expanded Anti-Deficiency Law May Have Unintended Consequences on Ventura County Short Sales. So Please read

For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions. Also see

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