With short sales taking over the real estate market, we understand it might be difficult to learn about alternatives. We're going to share with you the very best resources for homeowners that owe more than the current market value of their property, resources about the HAFA program, and how to find a short sale specialist at Realty ONE Group.
Short Sale vs Foreclosure
Is it better to short sale your house or let it foreclose? I wish there was a better answer, but it depends. Each home seller has a unique situation so there isn't one answer that fits all. However, local industry leaders have come together to publish information to help homeowners in your position.
Arizona Short Sale Advisory
This PDF file provides excellent information on alternatives to foreclosure; such as a Deed in Lieu of Foreclosure, Loan Modifications, and Bankruptcy. Use the Advisory to educate yourself about legal issues and tax issues applicable to Arizona residents.
California Short Sale Information and Advisory
The California Association of REALTORS® created this informational disclosure for real estate agents to provide their clients with general information. Although this PDF will give CA residents good information about short selling their home, it is not intended as legal advice for any particular property owner or buyer.
Greater Las Vegas Association of REALTORS® Consumer Short Sale Information
GLVAR produced this short sale brochure for homeowners considering a short sale in Las Vegas. Parties to any real estate transaction should seek competent legal and/or tax counsel to determine the legal, credit and tax consequences of short selling a home.
HAFA - Foreclosure Alternative Program
As of April 5, 2010 the Home Affordable Foreclosure Alternatives Program (HAFA) has been available for home sellers. The program is designed to help make short selling your home a little bit easier by offering some unique benefits. Through an application process home sellers can find out if they are eligible for this short sale assistance program. Upon approval both the bank and the home seller have a designated timeline to follow. HAFA home sellers are eligible for up to ,000 in relocation expenses and may be released from future liability for the first mortgage debt. For more information about HAFA and short selling your home, contact a Professional at Realty ONE Group.
