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Anja Kerstens' Blog

By Anja Kerstens | Agent in 95020

How to Qualify for a Short Sale

Do I qualify for a short sale?

1. Borrower:

2. Borrower, if you are not denied or failed a loan modification you may qualify for HAMP (Treasury's loan modification program).  You must meet all qualifications below to be eligible for a loan modification:
  • The property must be your primary residence
  • The property must be owner occupied
  • Your loan must be less than 60 days delinquent or in danger of default
  • Your first lien must have originated on or before January 1, 2009
  • Your monthly mortgage payment of your first loan (includes insurance, taxes, HOA fees, principle and interest) must be greater than 31% of your current gross monthly income.
  • Your current unpaid first loan principal balance must be equal or less than $729,750 if you own 1 unit.
OR

Borrower, if you were denied or failed a loan modification (HAMP) before you may qualify for HAFA (Treasury's foreclosure alternative program) and you must meet all qualifications below to be eligible to qualify for HAFA short sale or Deed-in_Lieu.
  • Your property must be or recently have been your primary residence
  • Property must have been occupied in the last 12 months
  • Your loan must be delinquent less than 60 days or in danger of default
  • Your first lien must have originated on or before January 1, 2009
  • You must be able to document a financial hardship
  • Your current unpaid first loan principal balance must be equal or less than $729,750 if you own 1 unit.

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Anja K. Kerstens
REALTOR®, CDPE, CHS and ASP®
DRE#01839597 

Summit Realty Group
La Dolce Vita Home Staging 

http://akerstens.com
anjakerstens@gmail.com

Buy or Sell with your area specialist and accredited home staging REALTOR® getting homes sold faster.

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