Why HAMP Mods May Lead to More Short Sale Opportunities with HAFA

HAFA Complements HAMP =  Short Sale Opportunities…

The Treasury Posts a HAMP Report monthly at

http://www.makinghomeaffordable.gov/news.html

Let's Take a look at some of the stats from February 2010:

Of the over 1 million HAMP modifications initiated since the programs inception - only 168,708 have been converted to permanent loan modifications.

There are a myriad of reasons why... including borrowers not completing all requirements, turning in documentation, not making the trial payments, etc.

This is one big reason why it is CRITICAL TO UNDERSTAND THE HAFA - Home Affordable Foreclosure Alternatives Program and to be a Certified Short Sale Professional!

This graph shows the pipeline of 6 million 60+ delinquent mortgages filtered down to approximately 1.8 million potential HAMP eligible borrowers.

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Don't miss these next two training events:

Learn more about the HAFA program and it's potential impact on the short sale market.

Steven Kitnick, Attorney Robert Noggle and I will be presenting a Webinar sponsored by

HAFA Guidelines and the Impact on
Your Short Sale Business

     WEBINAR:  Wednesday, April 7^th 10am-11am PST

This webinar will cover:

• Why it is important for real estate professionals to understand the guidelines?   
• HAFA’s potential impact on the short sale market
• Who is eligible for the program?
• What loan servicers are participating
• An overview of the process, paperwork, and timeframes
• Benefits including incentives to borrowers and servicers; commission protection, release and full satisfaction for borrowers from future liability
• Potential pitfalls and a few unknowns regarding 2^nd liens, possible mortgage payments, and sharing of the commission with 3rd party vendors

Don't Miss this Important Webinar - Only $9.95!  Register NOW !

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Certified Short-Sale Professional Designation Course
CE.4025000-RE 8 Hrs. General

Tuesday, April 13th, 2010 - 9:00am-5:30pm ~ Doors Open 8:30
Mountain View Mortgage 215 and S. Durango off W. Sunset Rd.
Instructors: Jan O'Brien, Steven Kitnick, and Attorney Robert Noggle.

Register for April 13th Course Now