The (HAFA) Home Affordable Foreclosure Alternatives program was developed to give homeowners a way to settle their mortgage debt without going through a foreclosure.
Because foreclosures have dominated our economic housing market, Tampa short sales are designed to help homeowners sell their home for the current value. Although the mortgage debt owed may be more than the value, in most cases the debt is satisfied by the mortgage company. This federal government program streamlines the short sale approval process and offers financial assistance to help you with relocation.
Homeowners may be eligible for the Home Affordable Foreclosure Alternatives program if:
- The property is their current principal residence, OR the property has been vacant or rented out for less than 12 months, and you have not bought another principal residence during that time.
- The amount you owe on your first mortgage for your property is equal to or less than:
- $729,750 for 1 unit
- $934,200 for 2 units
- $1,129,250 for 3 units
- $1,403,400 for 4 units
- You owe more on your home than it’s worth.
- Your current mortgage was taken out on or before January 1, 2009.
- You are experiencing a hardship (such as a job loss, divorce or medical emergency) and are unable to afford your current home loan.
Call your Tampa real estate attorney today to see if you qualify for a short sale.
With our excellent service and staffing, we will communicate with your mortgage company, eliminating harassing phone calls from their collections department. With Blick Law Firm you can select your realtor, or we have several with whom we have long established relationships with that will assist you through the process of listing and showing your home. Our short sale negotiators are highly experienced and will do their best to make this an easy journey as you go through this difficult season in your life.
Did you know? Typically, 120 calendar days are given to acquire an offer.
Call us today for your free short sale consultation! 813-931-0840