Solving the Foreclosure Crisis One Homeowner at a Time...

Thanks for joining us as we talk about real estate items pertaining to the Phoenix Metro Area. There are alternatives to foreclosure. Let us help you. Foreclosure should always be your last resort. For more information on how to avoid foreclosure and a list of homes for sale, please visit our site at http://www.marydrefs.com/. Need to find or sell a house?? Call us at 623-694-0354.

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Wednesday, April 21, 2010

HAFA for Short Sales

The government has announced a new HAFA plan and a good description of the plan is on the address below.
http://www.youtube.com/watch?v=8TXx8rKy-Ow

To participate in HAFA you must meet the following criteria:
1) The house must be your principal residence
2) You must be delinquent or soon to be delinquent on your mortgage payments
3) Your unpaid mortgage balance must be less than $729,750
4) Your mortgage payment must exceed 31% of your gross monthly income
5) Your loan cannot be owned or guaranteed by Fannie Mae or Freddie Mac.

Currently the only mortgage insurer participating in HAFA is MGIC. I will update you as more come on board.

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Mary & Mike Drefs
Keller Wms Realty Professional Partners
623-694-0354 marydrefs@cox.net
Agent of the Year 2001,2002,2003 & 2004
Top Team 2005, 2006, 2007 & 2008 !!!

Posted by Unknown at 3:50 PM

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