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Helpful Short Sale Video Guide

Bank of America posted brand new videos that I found to be extremely helpful for agents, on several different complicated topics in regards to the rules of short sales. The first one and what I felt was most important is called, “Initiating the Short Sale”.

What exactly is a Short Sale?
An alternative to a foreclosure
An investor accepts an amount less than what is owed on the mortgage
Investor guidelines will determine the eligibility for short sale and foreclosure postponement

Short Sale Assistance:
– Can be up to #3,000 for Relocation
– Possibly eligible for HAFA  (Home Affordable Foreclosure Alternatives) program

How to Qualify for HAFA:
– It must be your primary residence
– The mortgage must have originated on or before January 1, 2009
– Delinquencies or default must be foreseen 
– All HAMP (Home Affordable Modification Program) options must be exhausted
– Unpaid principle balance must be less than $729,750 for 1-unit properties (varies per amount of units – cannot be more than 4)

CLICK HERE to see an informational video that goes more in-depth with these short sale processes

CLICK HERE to read more about our Short Sale specialist at Showcase Realty, and what some of his clients had to say about him!

Get more for your money when selling your home!

 With increasing unemployment comes the increase in short sales nationwide. 

Short sales give homeowners an option other than going through the embarassment of foreclosures, while banks avoid the legal bills and maintenance costs the follow a foreclosure.

Short sales usually sell for more and get more money for the banks than foreclosures. In turn, banks often agree to drop any additional mortgages payments!

Click here to read more: FOR A REAL BARGAIN, TRY A SHORT SALE!

Short Sales Becoming More Popular With Time

Short sales, which many people are still unfamiliar with, are becoming more and more popular throughout the country with a noticeable increase in many states. Large banks including Bank of America and Wells Fargo have also had an increase in the amount of short sales they have seen in the last year, expecting more than double of what they had in 2009. 

Short sales are not new and nothing drastic has happened with the process recently, people are just finally starting to understand what it is! Showcase Realty specializes in short sales and encourages sellers to use this process, rather than go through the devastation of a foreclosure. CLICK HERE for more information on short sales, along with the contact information of someone on our team who can help you go through this process quickly and efficiently.

Read this article in USA TODAY:

Number of short sales on the rise

Talking Short Sales with The Mecklenburg Times

About a week ago, The Mecklenburg Times turned its focus from the devastation of homeowners in today’s market, to the success of the real estate agents behind the scenes, working their hardest to sell these homes and get their clients the best deals out there. Click on the article below to continue reading.