Short Sale Assistance
When you are faced with a financial hardship and looking for options about what to do with your home, Watson Realty Corp. can help. In most situations where you find that the value of your home is not worth what you currently owe, you may have options:
- Rent out your home through Watson Property Management
- Work with your bank to see if you are eligible for a loan modification (HAMP)
- List your home with a Watson Realty Corp associate and sell it as a short sale
- Do a deed-in-lieu of foreclosure through your bank (if eligible)
There is a program called HAFA that offers a much better outcome than foreclosure for all parties involved. The benefits to you include set timeframes, full release of future liability for the first mortgage debt and $3000 for relocation assistance.
This option is available to homeowners that meet one or all of these:
- Homeowners that do not qualify for a loan modification under HAMP
- Homeowners that do not successfully complete the trial period for their loan modification
- Homeowners that miss at least two consecutive payments during their modification period
- Any Homeowner that requests a short sale or deed-in-lieu of foreclosure
There is some eligibility requirements that Homeowners need to meet:
- The Homeowner must have lived in the home within the last 12 months
- The Mortgage must have originated prior to 1/1/2009
- The Homeowner must have a documented financial hardship
- The unpaid balance can be no more than $729,750
- There has not been another home purchased within the last 12 months
- The Homeowner must not have been convicted within the last 10 years of felony larceny, theft, fraud, forgery, money laundering or tax evasion in connection with a mortgage or real estate transaction.
If you think that you meet these requirements and would like to discuss it further with one of our short sale listing experts.They can provide you with more details, help you with the paperwork and guide you through the process.
Feel free to call us at 1-800-257-5143 with any questions or to be personally connected with the best agent for your particular situation. We are here for you!
* Not all banks are currently participating in this Program. Feel free to browse this website for more information: http://makinghomeaffordable.gov/.