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Hallock : Real Estate Advice

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  • Home Buying1
  • Home Selling1
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Activity 5
Sat Apr 3, 2010
Barry Shapiro answered:
Hi Becky,
Homeowners in your situation should learn about the New Home Affordable Foreclosure Alternatives Program (HAFA):
What's the purpose of HAFA? To help homeowners who are unable to keep their homes under the Home Affordable Modification Program, the HAFA program may make a short sale or a deed-in-lieu of foreclosure a viable option to help them avoid foreclosure. The HAFA Program, which will take effect on April 5, 2010, provides servicer, seller and junior lien holder incentives for these transactions and is designed to simplify and streamline use of short sales and deeds-in-lieu of foreclosure

Who is eligible for HAFA? The borrower must meet the basic eligibility criteria for HAMP:
• Principal residence.
• First lien originated before 2009.
• Mortgage delinquent or default is reasonably foreseeable.
• Unpaid principal balance no more than $729,750 (higher limits for 2 to 4 unit dwellings).
• Borrower’s total monthly payment exceeds 31% of gross income

Government forces are already moving to limit potential damage to millions now struggling with home loans. A new Obama administration short sale program aims to prevent banks that hold second-lien loans from pursuing collections from homeowners after the short sale. It goes into effect April 5, 2010 and works this way: Sellers will receive notice that their servicer has steered part of the sales proceeds to secondary lien holders “in exchange for release and full satisfaction of their liens.” This release would apply only to short sales done through the administration’s Home Affordable Foreclosure Alternatives program.... (continued)
Find Foreclosure Help Online at our website:
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Wed May 27, 2009
Lonnie answered:
I have a 3 br house 12 miles from hallock. Looking at low 40's
E-mail with questions
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Sat Aug 23, 2008
Susan Wesely answered:
I googled "realtor hallock mn" and came up with a couple within 40 miles. If you email me, I'll send details.
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Tue Jul 15, 2008 answered:

I didn't find anything in Hallock for you but did locate two Brokers in Thief River Falls. My suggestion is to contact one or both of them with your questions.

Anderson Realty
(218) 681-4087
601 Main Ave N
Thief River Falls, MN 56701-1501

Genereux Realty Inc
(218) 681-4663
304 Riverside Ave
Thief River Falls, MN 56701-2826
... more
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Tue Jul 15, 2008
Becky asked:
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