LA Real Estate Remedies

YOU HAVE OPTIONS!
I CAN HELP!

Avoid Foreclosure By A Short Sale.
Let me show you how!

What is HAFA? How can it help you?
Click the link below and find out!

Introducing the Home Affordable Foreclosure Alternatives Program

Don't Let Time Run Out!

I am a Certified Distressed Property Expert, and have a HAFA certification which gives me a unique and complete understanding of the new HAFA government program available to give those facing Foreclosure another option.

Call
Stephen Sabatella,
TODAY at 626-975-6287
BEFORE it's too late!

Chances are, you or someone you know in Southern California is facing the possibility of foreclosure. But you need to understand that you are not alone.

These are tough and frustrating times.  Today, nearly 1 out of every 10 homeowners in America is behind on mortgage payments. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.

Through my experience handling distressed properties at RE/MAX Tri-City, I've found that homeowners today have more questions than answers about their circumstances. I have created this site to help you understand the possible solutions to foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for some homeowners.

As a licensed California Broker with the CDPE® Designation and HAFA certification, I have a thorough understanding of the factors affecting the market, and know that there are options available to you.  Let my experience negotiating with lenders and closing short sale transactions work for you too!

Details of HAFA

HAFA was introduced to simplify and streamline the short sale process. HAFA accomplishes this in the following ways:

• Compliments HAMP by providing viable alternatives for borrowers who are HAMP-eligible
• Uses standard processes, documents and timeframes
• Provides financial incentives to borrowers, servicers and investors
• Requires that borrowers be fully released from future liability for the debt
• Utilizes borrower financial and hardship information collected in conjunction with HAMP, eliminating the need for additional eligibility analysis

HAFA provides financial incentives as follows:

• Homeowners qualify for $3,000 (updated March 26, 2010; was previously $1,500) in Borrower Relocation Assistance after a short sale or deed-in-lieu has been completed (may classify as taxable income in some cases)
• Lenders pay all servicing fees — homeowners have no out-of-pocket expenses

Who is Eligible for HAFA?

Most homeowners facing financial hardship are eligible. As a rule, if a homeowner is eligible for HAMP but cannot pay the mortgage, then he or she is eligible for an assisted short sale through HAFA. As of August 1, 2010, loans owned or guaranteed by Fannie Mae or Freddie Mac now qualify.  Servicers must consider possible HAMP eligible borrowers for HAFA within 30 calendar days if the borrower has met one or more of the following criteria:

• Does not qualify for a HAMP Trial Period Plan
• Does not successfully complete a HAMP Trial Period Plan
• Is delinquent on a HAMP modification by missing at least two consecutive payments
• Requests a short sale or deed-in-lieu

For a loan to qualify, it must meet the following criteria:

• The property is the borrower's principal residence
• The mortgage loan is a first lien mortgage originated on or before January 1, 2009
• The mortgage is delinquent or default is reasonably foreseeable
• The current unpaid principal balance is equal to or less than $729,750
• The borrower's total monthly mortgage payment exceeds 31 percent of the borrower's gross income (as defined in HAMP Supplemental Directive 09-01)

CALL
STEPHEN SABATELLA
626-975-6287
For more information!

5 Reasons to Avoid Foreclosure

1. The homeowner will always have to disclose they have had a foreclosure on any mortgage application.

2. Credit scores may be lowered by 300+ points affecting the ability to get a car, apartment, credit cards, etc.

3. A foreclsore is the one credit report item that is almost impossible to be "repaired".

4. Military and government security clearance could be at risk with foreclosure.

5. Many employers run credit checks on prospective employees and foreclosure is one of the top items that will put a potential new hire in jeopardy.