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~ HAFA Short Sale,Las Vegas Short Sale Specialist 702.482.7739 ~

HAFA Short Sale,Las Vegas Short Sale Specialist 702.482.7739 – http://www.ShortsaleinNevada.com – When Ready to sell your Las Vegas Home – if you owe more than the mortgage, we can help.Short Sales – HAFA (Home Affordable Foreclosure Alternative).

HAFA Explained

To give a quick summary HAFA is a streamlined process for home owners to try to get a loan modification on their property, if the home owner is denied on the loan modification then the bank will encourage a short sale and incentives it for the home owner.

Who’s Eligible?

* Have to live in the home or have moved out in the last 90 days due to a job transfer

* Delinquent on the mortgage now or in foreseeable near future

* Loan balance of $730,000 or less

* Only applies to your first mortgage

* Borrowers mortgage payment must exceed 31% of monthly income

** Note there are few more requirements but this is the majority of them…

Incentives

* $3000 given to home owner at the closing for a successful short sale

* Servicer on the loan gets $1,500

* Junior lien holders get up to $6,000 to release the liens for short sale

** Paid for by the U.S. Treasury**

Time Line For HAFA Process

* Bank has 30 days to approve or deny the loan modification, if denied short sale encouraged

* Borrower submits “short sale” package to lender

* Bank to review value of home and amount of money owed and establish what price to list home

* Borrower/Real estate agent has 14 days to submit listing paperwork to the bank

* Real estate agent has 120 days to get an accepted offer on the home

* Real estate agent has 3 days to get the offer to the bank

* Bank/Servicer has 10 days to approve or deny the offer

* Bank to give a minimum of 45 days to buyer to close

Banks Participating

Bank Of America

Chase

Wells Fargo

GMAC

Citibank

Many others

 

Contact The Ballen Group today to get help from an agent that specializes in your area.

The Ballen Group
Las Vegas Short Sale Specialists
3100 S. Durango #106 (At Desert Inn)
Las Vegas, NV 89117
(702) 604-7739

Las Vegas Short Sale Specialists
View Listings
View Blog


KWLV………The 3D Experience. Determined, Dedicated, Driven @Desert Inn and Durango – Click the link below to find out more about Keller Williams Realty Careers.

Set up your confidential interview with Keller Williams® today and join the fastest growing real estate company in North America!


Each Office
Independently Owned and Operated
The Ballen Group – Licensee Richard Ballen Wekerle and Lori Wekerle
– If currently working with a REALTOR® this is not intended as a solicitation

Zip Codes Served: 89101,89102,89103,89104,89106,89107,89108,89109,89110,89111,89112,89113,89114,89115,89116,89117,89118,89119,89120,89121,

89122,89123,89124,89125,89126,89127,89128,89129,89130,89131,89132,89133,89134,89135,89137,89138,89138,89141,89142,89143,89144,89145,89146,
89147,89148,89149,89150,89151,89152,89153,89154,89155,89156,89159,89160,89162,89164,89170,89173,89177,89180,89185,89193,89195,89199,89030,
89031,89032,89033,89036,89084,89086

Las Vegas Real Estate Agent – Homes for sale in Nevada – Short Sale Listings – Las Vegas Short Sales

 

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~ HAFA Explained by Las Vegas Short Sale Agent closing Short Sales in Nevada

HAFA Short Sale,Las Vegas Short Sale Specialist. – 702.482.7739 – http://www.ShortsaleinNevada.com – When Ready to sell your Las Vegas Home – if you owe more than the mortgage, we can help.Short Sales -HAFA (Home Affordable Foreclosure Alternative).

HAFA Explained

To give a quick summary HAFA is a streamlined process for home owners to try to get a loan modification on their property, if the home owner is denied on the loan modification then the bank will encourage a short sale and incentives it for the home owner.

Who’s Eligible?

* Have to live in the home or have moved out in the last 90 days due to a job transfer

* Delinquent on the mortgage now or in foreseeable near future

* Loan balance of $730,000 or less

* Only applies to your first mortgage

* Borrowers mortgage payment must exceed 31% of monthly income

** Note there are few more requirements but this is the majority of them…

Incentives

* $3000 given to home owner at the closing for a successful short sale

* Servicer on the loan gets $1,500

* Junior lien holders get up to $6,000 to release the liens for short sale

** Paid for by the U.S. Treasury**

Time Line For HAFA Process

* Bank has 30 days to approve or deny the loan modification, if denied short sale encouraged

* Borrower submits “short sale” package to lender

* Bank to review value of home and amount of money owed and establish what price to list home

* Borrower/Real estate agent has 14 days to submit listing paperwork to the bank

* Real estate agent has 120 days to get an accepted offer on the home

* Real estate agent has 3 days to get the offer to the bank

* Bank/Servicer has 10 days to approve or deny the offer

* Bank to give a minimum of 45 days to buyer to close

Banks Participating

Bank Of America

Chase

Wells Fargo

GMAC

Citibank

Many others

 

Contact The Ballen Group today to get help from an agent that specializes in your area.

The Ballen Group
Las Vegas Short Sale Specialists
3100 S. Durango #106 (At Desert Inn)
Las Vegas, NV 89117
(702) 604-7739

Las Vegas Short Sale Specialists
View Listings
View Blog


KWLV………The 3D Experience. Determined, Dedicated, Driven @Desert Inn and Durango – Click the link below to find out more about Keller Williams Realty Careers.

Set up your confidential interview with Keller Williams® today and join the fastest growing real estate company in North America!


Each Office
Independently Owned and Operated
The Ballen Group – Licensee Richard Ballen Wekerle and Lori Wekerle
– If currently working with a REALTOR® this is not intended as a solicitation

Zip Codes Served: 89101,89102,89103,89104,89106,89107,89108,89109,89110,89111,89112,89113,89114,89115,89116,89117,89118,89119,89120,89121,

89122,89123,89124,89125,89126,89127,89128,89129,89130,89131,89132,89133,89134,89135,89137,89138,89138,89141,89142,89143,89144,89145,89146,
89147,89148,89149,89150,89151,89152,89153,89154,89155,89156,89159,89160,89162,89164,89170,89173,89177,89180,89185,89193,89195,89199,89030,
89031,89032,89033,89036,89084,89086

Las Vegas Real Estate Agent – Homes for sale in Nevada – Short Sale Listings – Las Vegas Short Sales

 

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Short Sale Questions Answered by Las Vegas Short Sale Specialist in Nevada – 702-482-7739 -http://www.ShortSaleinNevada.com –

Short Sale Questions Answered by Las Vegas Short Sale Specialist in Nevada – 702-482-7739http://www.ShortSaleinNevada.com

FREQUENTLY Asked Questions on Las Vegas Short Sales and Pending foreclosure in Nevada


1.) Do I Qualify for a
short sale in Nevada? If you owe more than your home would sell for – you qualify.

2.) I have enough money to pay the difference – Should I do a short sale? We suggest you contact your attorney or legal professional, but you may want to consider paying off the difference to save your credit or look into a loan modification. FYI – We have had people approved even though they had the money in the bank.

3.) I have been hearing a lot about loan modifications. Should I try one? Sure. If you think you might qualify – why not? Word to the wise – USE YOUR LENDER. It’s free. If your lender can’t do it – it can’t be done by some guy who claims to be a “specialist in loan modifications” and charges you $500 or more. The law actually states that NOBODY can charge up front for Loan Modification services. If they try to charge you up front – they are breaking the law. Is that who you would want trying to save your home? If you feel you qualify for a loan modification or refinance, we can point you to a licensed mortgage company. If you can’t qualify, we can help you with the Nevada short sale process.

4.) Who pays the Las Vegas Short Sale Agent for their services? Good News! The bank pays us all commissions plus items the buyer may ask for such as closing costs.

5.) What is a hardship package and why do I need it? The Nevada Short Sale hardship letter is to state your situation. The bank wants to understand why you can’t make your payments and keep your home. A hardship could be medical (physical or mental illness). It could be divorce, death, relocation, loss or change of employment, addictions causing money loss, taking care of sick parents, large amounts of child support and so on. We can’t tell you what your hardship is, but these are some we have seen approved. The rest of the package is simply a combination of pay stubs, bank account statements, profit & loss sheet, and tax returns. Some of these items are never requested from the bank. It all depends on the bank.

6.) Can I short sale my home in Nevada and buy something more affordable? Maybe. There is talk that this may be some day be called mortgage fraud.

7.) How will the Las Vegas short sale affect my credit. To find out an exact score hit and how your credit will be affected, you will need to get professional advice from an accountant and/or credit professional. It will affect your credit, we are not licensed or trained in the credit department to tell you specifics.

8.) How is a short sale better than a Las Vegas Foreclosure? – Again, a credit professional, accountant or legal professional can better advise you, but we are told that with a short sale, you can buy a home years before you could if you had a foreclosure on your record.

9.)Can the lender come after me? They can if they choose. It depends on how their final approval letter is written. You still have the choice to accept or deny their terms and opt for the foreclosure or deed in leiu of foreclosure should you decide. We have not seen collections personally, but we understand that the debt can be sold to a collector if it is not written as settled. This can be negotiated in the final stages of the short sale once a negotior has been assigned to your case.

  • The Ballen Group
    Las Vegas Short Sale Specialists
    3100 S. Durango #106
    Las Vegas, NV 89117
    (702) 604-7739

    Email Web Blog Featured

    Las Vegas Short Sale Specialists
    View Listings
    View Blog

    FREE Short Sale Kit

    Las Vegas Short Sales, The Ballen Group, Las Vegas Short Sale Specialist Team, Keller Williams Realty Las Vegas

    • Las Vegas Short Sales
    • North Las Vegas Short Sales
    • Nevada Short Sales
    • Henderson Short Sales
    • On Call Legal Counsel
    • Award Winning Las Vegas Short Sale Specialist Team
    • The Ballen Group Short Sale Nevada
    • Professional Las Vegas Short Sale Agents

    IMPORTANT NOTICE:

    Keller Williams Realty Las Vegas is not associated with the government, and our service is not approved by the government or your lender. Even if you accept our offer of help with mortgage assistance and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

     

    ~ HAFA – Home Affordable Foreclosure alternative explained by Short Sale Agent in Nevada – Keller Williams Realty Las Vegas

     

    HAFA Explained

    To give a quick summary (you can Google HAFA for much more details), HAFA is a streamlined process for home owners to try to get a loan modification on their property, if the home owner is denied on the loan modification then the bank will encourage a short sale and incentives it for the home owner.

    Who’s Eligible?

    * Have to live in the home or have moved out in the last 90 days due to a job transfer

    * Delinquent on the mortgage now or in foreseeable near future

    * Loan balance of $730,000 or less

    * Only applies to your first mortgage

    * Borrowers mortgage payment must exceed 31% of monthly income

    ** Note there are few more requirements but this is the majority of them…

    Incentives

    * $3000 given to home owner at the closing for a successful short sale

    * Servicer on the loan gets $1,500

    * Junior lien holders get up to $6,000 to release the liens for short sale

    ** Paid for by the U.S. Treasury**

    Time Line For HAFA Process

    * Bank has 30 days to approve or deny the loan modification, if denied short sale encouraged

    * Borrower submits “short sale” package to lender

    * Bank to review value of home and amount of money owed and establish what price to list home

    * Borrower/Real estate agent has 14 days to submit listing paperwork to the bank

    * Real estate agent has 120 days to get an accepted offer on the home

    * Real estate agent has 3 days to get the offer to the bank

    * Bank/Servicer has 10 days to approve or deny the offer

    * Bank to give a minimum of 45 days to buyer to close

    Banks Participating

    Bank Of America

    Chase

    Wells Fargo

    GMAC

    Citibank

    Many others

    HEAR HOW THIS LAST SHORT SALE WAS CLOSED – WOW!

    Get your FREE Las Vegas Short Sale Kit packed full of vital information pertaining to the Short Sale Process, Nevada Foreclosure, Pros and Cons, Hardship Package Information and more.

    The Ballen Group – Las Vegas Short Sale Specialists
    North Las Vegas Short Sales, Henderson Short Sales
    3100 S. Durango #106 Las Vegas, NV 89117
    (702) 482-7739

    Email Web Blog Featured

     

     

     

     

    The Ballen Group, A Las Vegas Real Estate Agent Team,closes HAFA Short Sale in NV and cash to seller

    The Ballen Group, A Las Vegas Real Estate Agent Team,closes HAFA Short Sale in NV and cash to seller

    The Ballen Group, A team of Las Vegas Short sale Specialists, closed a HAFA Short sale with Citibank with NO DEFICIENCY and $3,000 Cash back to the seller in 34 days from offer to closing.

    Las Vegas Short Sale Specialist Team

    FOR IMMEDIATE RELEASE

    PRLog (Press Release)Jan 20, 2011The Ballen Group, a local team of award winning short sale agents in Las Vegas, Nevada, who have been specializing in Nevada Short Sales for several years now, have completed a HAFA approved short sale transaction with Citibank.  The Bank took a short payoff with no deficiency language on both the first and the second mortgage.

    This particular seller qualified for the Home Affordable Foreclosure Alternative program better known as HAFA. HAFA is a streamlined process for home owners to try to get a loan modification on their property, if the home owner is denied on the loan modification then the bank will encourage a short sale and incentives it for the home owner.

    HAFA’s streamlined process and The Ballen Group’s Marketing System sped this Las Vegas Short Sale up compared to “traditional” short sales. Citibank approved the short sale only 12 days after the seller contracted the listing with The Ballen Group of Keller Williams Realty Las Vegas (The original ONE on Durango at D.I.). The closing of the transaction actually took place only 34 days after the buyers offer was received. This is much faster compared to the average 152 day short sale seen recently in the Las Vegas Real Estate Market.  

    Ballen uses a comprehensive Las Vegas Short sale system for sellers. Nevada Homeowners who are facing Las Vegas foreclosure can request that The Ballen Group  consult with the sellers about their needs. In addition, Ballen has created a custom short sale hardship package allowing the homeowner to complete the documents required by the bank to ease the process.  Although The Ballen Group would never encourage Las Vegas Short Sale, many homeowners in Las Vegas and surrounding areas are facing true hardships that force them to attempt a Short Sale rather than face Las Vegas Foreclosure.

    ” I have to admit, this was one of the smoothest transactions, especially working short sales, that we have ever done.” says Lori Ballen, team leader for The Ballen Group who Short Sale Nevada. “We are  thrilled to see Citibank and other Lien Holders making it possible for the sellers to move on with their lives”. Richard Ballen, Listing Specialist for the Ballen Group happily stated “Another Problem has been solved. Bring on the next one”.

    The Ballen Group specializes in Las Vegas Real Estate, Henderson Real Estate, North Las Vegas Real Estate, Short Sales (Pre Foreclosures) and Las Vegas Foreclosures. http://www.youtube.com/watch?v=39wcJsR5LEk

    # # #

    The Ballen Group .

  • The Ballen Group
    Las Vegas Short Sale Specialists
    3100 S. Durango #106
    Las Vegas, NV 89117
    (702) 604-7739

    Email Web Blog Featured

    Las Vegas Short Sale Specialists
    View Listings
    View Blog

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