Facebook Linkedin Youtube Rss

Tag: FHA

FHA Short Sale Pre-Foreclosure Program Could Work For You

February 16, 2015

Today I wanted to talk to you about your FHA loan and a situation that some of you may be in. If you’re in a house with an FHA loan and need to sell but it’s not worth the amount of the loan, what are you going to do? FHA has been around for quite some time and they have a program called the FHA Pre-Foreclosure Sale Program.

There are a number of steps to successfully navigating that program, one of them being having difficulty making the payments and no longer needing the house. If you still live in that house they will review retention options for you, which is just another term for a loan modification. If they review you and aren’t willing to do the loan modification the next option becomes a short sale. If you do need to do a short sale, they’ll give you approval for the program, do an appraisal on your home; there are all mathematics that goes into what type of figure they’re willing to accept as a reasonable offer on the home. There are several nuances and complexities to this program.

I’m not telling you all of this to scare you aware from the FHA Pre-Foreclosure Sale Program; I’m actually telling you all of this to set myself apart from what you may hear in talking to another real estate agent. The process with FHA is near and dear to us because we do short sales with them on a regular basis. One of the other things is that they’re now allowing up to a $3000 incentive to the homeowner to complete a short sale instead of walking away from the property.

If you have an FHA loan and have stopped making payments or know the day is coming where you won’t be able to make payments, I’d love to talk to you about their program and the benefits of it. We can see if it will work for you and your situation.

We Are FHA Short Sale Specialists

March 18, 2014

Right now I wanted to talk to you about your FHA home loan and completing a short sale. Now, since the FHA loan is a government-backed loan isn’t call a short sale, it is actually called a pre-foreclosure sale program. The pre-foreclosure sale program related to FHA loans has been around for quite a long time, it’s nothing new. They have recently updated their guidelines to be a bit more flexible in the case of when you are having some trouble with your FHA loan. They have also increased their relocation incentive for a seller as part of a FHA pre-foreclosure sale; it used to be $1500 and now they have increased it to $3000. It is still not an enormous amount of money but it certainly helps out when you’re trying to move on in life. There are a lot of ins and outs and a lot of guidelines associated with this program and something that I’ve found is that it is extremely important that you hire people to help you that are very familiar with, and embrace, these guidelines. Some of these guidelines, the FHA is very flexible on and will bend the rules to get the short sale done but then on other guidelines they are very strict on.

Because we handle so many of these and we like to keep up to date, we are going to be able to help you out with your FHA home loan. What I would like you to do is pick up the phone and give us a call or fill out the online short sale request form and we will be in touch with you soon. As always, I would also like to encourage you to reach out to us with any other short sale or real estate related questions you may have. It doesn’t matter who your lender is or what type of loan you have, we’ve worked with it all so please allow us to put our experience and knowledge to work for you.

Bank Of America Short Sale Experts

January 21, 2014

)

Thank you for taking the time to visit our website today. If you’re here you are more than likely looking for short sale information and, if so, you’ve come to the right place. I wanted to talk to you right now about Bank of America and their short sales. As far as short sales go with Bank of America, honestly, we’ve been working with them for many years. Once upon a time shortly after Bank of America acquired Country Wide home loans we’d go to them with a short sale and it was an incredibly difficult process to get the short sale done. What I wanted to share with you today is that Bank of America has actually become one of the most receptive companies to accomplishing short sales and expediting getting the short sale done. In most cases, FHA loans with Bank of America are a little bit of a different process but the rest of the mortgages that are serviced or owned by Bank of America, we have incredibly good results and incredible contacts within Bank of America and their third party service providers.

If you have a Bank of America loan and you’re considering doing a short sale please pick up the phone and give us a call or fill out the short sale request form on our website and we’ll be in touch with you soon. You can also feel free to browse our website further to find more videos and information regarding completing a short sale with Bank of America or any other lender for that matter. If you have any additional questions that aren’t covered in the videos or on our website please don’t hesitate to reach out to us for help because we are here to help you navigate the short sale waters, no matter who your lender is or what type of loan you have.

Stay or Sell?

Crunch the Numbers on Your Home Instantly!
Start Here

What is a Short Sale?

Start Here

About Shawn Polston

Shawn has been a Realtor since 2006. Prior to becoming an agent Shawn and his wife were active real estate investors. Shawn takes his education seriously; he’s taken over 200 hours of continuing education classes, to keep up-to-date on current laws and trends. Shawn is a member of the Arizona Association of Realtors Master of Real Estate Society and a Graduate of the Realtor Institute. He is also a HAFA certified Short Sales and Foreclosure Specialist in addition to being a National Association of Realtors Short Sale and Foreclosure Resource.

More About Shawn

© Polston Results Team – Tucson Short Sale Specialists