HAFA-Government Help Here!

New Law for Homeowners!
Know Your Rights and Tell Your Family,
Friends and Everyone You Know.

The Government JUST passed a new law that will allow distressed homeowners to AVOID FORECLOSURE, save their credit and get paid $3000 by the government; all at NO COST!  Many people in our community need this important information. (3 out of 10 people in Florida are struggling with their mortgage payment)

The New Law is called “HAFA” (Homes Affordable Foreclosure Alternative)

• The Government pays YOU $3000.00 to Sell your home.
• Your current Foreclosure date will be suspended and you can
   stay in the home during the entire sale process.
• You walk away debt free, and the Bank CANNOT pursue you
   for any money whatsoever.
• The Bank pays for EVERYTHING:  The difference between the
  sale and your loan amount, as well as all other fees.
• The whole process is FREE for you!

My name is Larry Fleckinger and I am an experienced Realtor and life time residence in Brevard County. As an Certified Distressed Property Expert (CDPE),  As a community advocate, I have taken it upon myself to tell everyone I can about this new law and how it may benefit them or their family and friends.  If we act now, we can halt a foreclosure process in its tracks!

Foreclosures are devastating for everyone involved.  They destroy a homeowner’s credit by 250-300 points and bar them from even APPLYING for another loan for 5-7 years, not to mention the stress the homeowner is going through.  (3 out of 10 people in Florida are struggling with their mortgage payment) The Banks are forced to take control of the home which drains their time and resources. 

The Government knew they had to act, and FINALLY did by initiating “HAFA”.  “HAFA” allows the distressed homeowner to sell their home for current market value and walk away from the home debt free.  The Bank will forgive the difference between the sale price and the loan amount, pay the Realtors fee and every other fee involved including back taxes and agree to never pursue the homeowner for any deficiency judgment ever.  This whole process is FREE to the homeowner!

On top of all this, the Government is going to pay the homeowner $3000 for the successful Short Sale.  They simply want EVERYONE to complete a short sale in lieu of a Foreclosure because it is better for everyone involved.  Thank you HAFA!

A Short Sale process is a very easy process for the seller, but they MUST use a Certified Specialist.

As a Certified Distressed Property Expert with training in listing and selling distressed properties, I am in the top 1% of all Realtors  who have received this expert training.

For a free quick-over-the-phone consultation call 321-252-9767, leave a message if I do not answer!

HAFA Program Details 

The federal government’s new guidelines for short sales will take effect April 5, 2010.  The new guidelines are part of the Home Affordable Foreclosure Alternative Program (“HAFA”). The program is for loans not owned or guaranteed by Fannie Mae or Freddie Mac.  Even though the program is voluntary for lenders, major banks are expected to participate.

In order to be eligible for the program, the following conditions must be met:

• The property must be the borrower’s principal residence
• The mortgage loan (first lien) was originated on or before January 1, 2009
• The mortgage loan is already delinquent or default is foreseeable
• The current unpaid principal balance is equal to or less than $729,750
•  The borrower’s total monthly mortgage payment exceeds 31% of the borrower’s gross income

The following incentives are offered:

• $1,000.00 – to the lender/servicer for successful short sale
• up to $3,000.00 – to junior lien holder for releasing the lien
• $3000.00 – to the borrower/homeowner to assist in moving expenses

Additional program features include:

• 90 days up to one year to market and sell the property
• No foreclosure may occur during the marketing period as per the Short Sale Agreement
• Mortgage servicers cannot charge fees to borrowers for participating in Foreclosure Alternatives
• Borrowers will receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds)

If you have defaulted on your loan, it’s always a good idea to contact your lender to explore all possible options available to you, which may include a repayment plan, forbearance, loan modification, or a short sale. If you decide to short sell your house or allow it to foreclose, again it’s very important to contact your local real estate and/or tax attorney  to find out what could the consequences be, if any, if your house is foreclosed or if you choose to short sell.