Loan Modifications HAMP HAFA Home Affordable Foreclosure Alternatives (HAFA) Las Vegas Nevada

Guidelines and Overview

Hello everyone, I have been receiving telephone calls (702-307-4070 ext 107) from Las Vegas Homeowners asking me questions about these new Loan Modification Programs by the Government that are starting April 5, 2010. When do they start? Do I qualify? What happens if I do not qualify what are my Options? What are the requirements? What is HAMP HAFA RASS SSA? If you have any questions that I can Help you with, call me at 702-307-4070 ext 107 and I will be happy to advise you. Please read below a Helpful Overview that will answer majority of your questions in regards to these Government Loan Modifications:

- HAMP: Home Affordable Modification Program

- HAFA: Home Affordable Foreclosure Alternatives

- RASS: Request for Approval of a Short Sale

- SSA: Short Sale Agreement

Loan is eligible if all of the following conditions

are met:

• Property is borrower’s principal residence
• Loan is a 1st lien mortgage
• Originated before Jan 1, 2009
• Mortgage is delinquent or default is reasonably foreseeable

• Current unpaid balance is equal to or less than $729,750
• Borrower’s total monthly mortgage payment exceeds 31% of borrower’s gross income

Requirements

• Servicers must consider HAMP eligible borrower for HAFA within 30 days of the date the borrower:
• Does not qualify for trial period plan
• Does not successfully complete trial period plan
• Is delinquent on HAMP modification by…CLICK HERE TO READ MORE http://www.vegasshortsalehomes.com/857256/2010/01/11/Loan-Modifications-HAMP-HAFA-Home-Affordable-Foreclosure-Alternatives-HAFA-Las-Vegas-Nevada.aspx

Steve & Gerri Wadkins, Realtors®-Advanced CDPE-SFR-Short Sales and Foreclosures Resource Specialists.

To Sell your House www.VegasShortSaleHomes.com 702-307-4070 ext 107

To Buy A Home www.WadkinsHomeTeam.com 702-307-4070 ext 106

Tags: HAFA HOME AFFORDABLE FORECLOSURE ALTERNATIVES, Henderson Short Sale, Home Affordable Modification Program HAMP Las Vegas Henderson, Las Vegas Short Sale, RASS Request for Approval of a Short Sale, SSA Short Sale Agreement

Posted on Monday, January 11th, 2010 at 1:32 pm and is filed under Short Sale. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.