A hardship letter is a written statement explaining why the mortgage is in default and is required by all mortgage companies in order to qualify for any type of loss mitigation, which might include a short sale i.e. a situation in which you owe more than the fair market value of your home.
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What Every Buyer Should Know Before Buying a Short Sale Property
Short sales are a dime a dozen on the Multiple Listing Service. In fact, if you are an avid home buyer or house hunter, you might already understand and know that when a listing says subject to bank approval or subject to [...]
Continue Reading →Short sale transactions are often complex and time consuming real estate sales transactions. A short sale, by definition, is a transaction where the title to real property transfers to a new owner even though the sale price is insufficient to pay the total of all liens and the closing costs of sale. It’s where the seller [...]
Continue Reading →What is HAFA?
The Home Affordable Foreclosure Alternatives (HAFA) Program is a government-sponsored initiative announced in November 2009 overseen by the US Treasury Department and administered by Fannie Mae (Fannie) assisting all Home Affordable Modification Program (HAMP) eligible homeowners in avoiding foreclosure, specifically through short sales (SS) or deeds-in-lieu (DIL) of foreclosure. As of April [...]
Continue Reading →If you are interested in earning the Short Sales and Foreclosure Resource (SFR) designation, now is the time to do it. The National Association of Realtors (NAR) has announced that it will continue to waive the SFR application and webinar fees through March 31, 2010.
To earn the new SFR designation, Sales Associates must complete [...]
Continue Reading →Many NJ Realtors or real estate agents in general want to know if a bank can renegotiate short sale commission once an offer has been presented and approved by a bank? If the homeowner’s mortgage loan was Freddie or Fannie Mac insured, short sale commissions can not be renegotiate. You are entitled to earn your full commission [...]
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- Weichert, Realtors
- Audeliz Angie Perez
- 123 Lincoln Highway
- Edison, NJ 08820
- Office: 732-494-6800
- Fax: 732-603-9626
- Cell: 973-715-6210
