Real Estate in West Orange
Marsha Bowen Washington
973-510-0014973-510-0014

Government Short Sale Program HAFA Sunsets December 31st 2016

HAFAmortgage delinquency

This program which offered distressed homeowners an opportunity to liquidate their home via a short sale (sell home for less than the mortgage owed) or deed in lieu (volunteer foreclosure).

Participating lenders and servicers could offer distressed homeowners up to $10,000 for relocation at closing.

TOP 5 THINGS YOU NEED TO KNOW ABOUT HAFA BEFORE IT EXPIRES

  • Effective September 1, 2016, servicers are no longer required to proactively notify potentially eligible homeowners of the availability for HAFA.
  • Homeowners interested in liquidation options under the HAFA program, must contact their lender or servicer to request a liquidation offer for a short sale or DIL on or before December 30, 2016.
  • After December 30, 2016, servicers are no longer required to assign relationship managers to homeowners.
  • Pursuant to any extensions necessary to accommodate delays in obtaining any court or trustee approvals in connection with a Chapter 7 or Chapter 13 bankruptcy, the short sale notice, offer for DIL transaction or approval of an executed sales contract must be sent on or before December 30, 2016 and the Closing Date must be no later than December 1, 2017.
  • The short sale notice containing the preā€approval of a HAFA short sale or DIL of foreclosure must include the offer of a DIL of foreclosure transaction; or the approval of an executed sales contract for a short sale. The transaction closing date must be on or before December 1, 2017

For more information on mortgage assistance, visit www.HAFAhelpforhomeowners.com

 

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About Marsha Bowen Washington

Picture of Marsha Bowen Washington

Marsha Bowen Washington

Realtor/Sales Associate

marshabwashington@yahoo.com

973-510-0014973-510-0014 main

Coldwell Banker Residential Brokerage

2 E. Mt. Pleasant Avenue Livingston, NJ 07039

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Reviews

5ChristinaPamplin

Marsha was highly professional and knowledgeable about the real estate market. She made me feel very confident that I was in good hands. When I began to feel nervous and stressed, she stepped in and assisted with following up with my lender and attorney to... (more)

5Yetta Armstrong

Marsha Bowen Washington is the real deal! She's knowledgeable, friendly, patient, committed, and caring. My real estate venture was very challenging and Marsha stuck with me throughout the whole process even though I extended my search outside of her... (more)

5vinagda

if Marsha had anyother skills besides real estate, my husband and I would use her in those areas as well. She has such calmness that the worst clamity, seems nothing when she is dealing with things. It was the most effortless journey and a pleasure working... (more)

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