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FHA Short Sales…Get Paid to Move out!

The U.S. Housing and Urban Development (HUD) is helping borrower (s) move from their home with a program called Pre-Foreclosure Sale (PFS Program). This program allows borrowers who have fallen short on their payments and are now in pre-foreclosure sell their homes short of what they owe.

Basically, how the program works is if you meet certain criteria set forth by HUD…HUD will perform a new appraisal of your home and accept roughly 88% of the current homes value satisfying he old mortgage note.

Key Factors are:

• Borrowers/Sellers will receive cash incentive of up to $1,000
• The Mortgagee (your lender) or HUD will not pursue the borrower for a deficiency judgment
• Borrowers/Sellers must professionally & actively market property for up to 3 months which will delay any foreclosure proceedings.
• Must have a marketable title, title search must be performed and all liens should be cleared/discharged prior to closing
• Borrower can be current at time of submission but must be delinquent by at least 30 days prior to the closing
• Property values are determined by an FHA certified appraiser, using a “as-is” Fair Market Value (FMV)
• Mortgagor/Sellers must maintain property in “ready to show” condition
• Mortgagee/ lender must respond within 5 working days from receipt of the executed contract

Eligibility:
• The property must be owner-occupied, no “walk-a ways” or investment properties. Exceptions: when it is verifiable that the need to vacate was related to the cause of default (job loss, transfer, divorce, death), and the subject property was not purchased as rental investment, or used as a rental for more than 18months.

• The Mortgagor must be 31 days or more delinquent at the time of the Pre-foreclosure Sale closing.

• The Mortgagor must provide documentation substantiating a reduction in income or an increase in living expense, and documentation that verifies the Mortgagors need to vacate the property (if applicable).

For more information call 1-877-427-9696

Contributers

Short Sale Title Company

What is a Short Sale

Short Sale Realtor

Free Short Sale Help!

Are you trying to “short sell” your home? I am currently helping Realtors & Homeowners get their short sales approved 30 days fast than industry average turn-times.

Why? Because I was helping, homeowners negotiate their short sales over 10 years ago, simple math will tell you that is a lot longer than we have all been hearing about short sales in the news.

Over the years, I have learned exactly what the banks are looking for, so by providing them with exactly what they are looking your chance of getting an approval becomes much greater and eliminates any and all going back and forth which can take months. This intellectual knowledge as proven me right time and time again when negotiating short sales and I’m willing to help all of you for free to get your short sales negotiated and closed.

What will we do? Help with Short Sales

I have now trained my team so that they are able to help you…They will do all preliminary searches on the property for you so that when the HUD is submitted it is accurate and not based on assumptions. We will help prepare your short sale package the right way prior to submission making sure everything is right and stacked properly. From there we will help with follow up, making sure that we maintain our position in line for review and provide answers to bank concerns in less than 24 hours.

 If you would like more information about us helping you with your short sale, please contact us directly at 877-427-9696 ask for Anthony Crupi