Tampa Bay Foreclosure & Short Sales » Stopping Foreclosure

New Listing – Short Sale: 2BR/1BA Single Family House in St. Petersburg, FL, $115,000

Dave — Wed, 01 Sep 2010 14:32:22 +0000

For Sale: 2BR/1BA Single Family House in St. Petersburg, FL, $115,000. Newly remodeled and move in ready!!!

SOLD! ~ Short Sale: 2BR/2BA Single Family House in St. Petersburg, FL, $110,000

Dave — Fri, 27 Aug 2010 13:18:11 +0000

For Sale: 2BR/2BA Single Family House in St. Petersburg, FL, $110,000.

Great little home just sold as a Short Sale two weeks ago……again, helping home owners stay out of Foreclosure! Call me directly if I can help!

JUST SOLD!!! ~ Short Sale – 3BR/2+1BA Single Family House in Largo, FL, $98,500

Dave — Fri, 27 Aug 2010 13:11:57 +0000

For Sale: 3BR/2+1BA Single Family House in Largo, FL, $98,500.

Just helped another home owner from Foreclosure!!!

Call for a private consultation today!

Government Takes a Stronger Hold On HAMP

Dave — Thu, 01 Jul 2010 11:10:47 +0000

Since the Making Home Affordable plan has been implemented, about 300,000 homeowners have enjoyed an average reduction of $500 a month. Unfortunately, however, this has done very little to improve the housing market.

via Government Takes a Stronger Hold On HAMP.

Seven Year Penalty for Strategic Default

Dave — Thu, 01 Jul 2010 11:06:58 +0000

Strategic default is often defined as the conscious decision of a borrower to stop payments on an otherwise affordable mortgage because the property is worth less than the mortgage balance. The recent trend of strategic foreclosures has sparked concern and action on the part of Fannie Mae. In an effort to curb such default, Fannie Mae stated on Wednesday that it would lock out homeowners from receiving a new loan for a seven year period

via Seven Year Penalty for Strategic Default.

Foreclosure sales dominate Hillsborough County housing market – Tampa Bay Business Journal

Dave — Thu, 01 Jul 2010 11:03:36 +0000

Foreclosure sales dominate Hillsborough County housing market – Tampa Bay Business Journal.

For Sale: 4BR/2BA Single Family House in Largo, FL, $150,000

Dave — Fri, 25 Jun 2010 19:39:20 +0000

For Sale: 4BR/2BA Single Family House in Largo, FL, $150,000.

This was another Short Sale that we received approval on and closed at the end of April!

For Sale: 2BR/2BA Single Family House in St. Petersburg, FL, $110,000

Dave — Fri, 25 Jun 2010 19:30:31 +0000

For Sale: 2BR/2BA Single Family House in St. Petersburg, FL, $110,000.

We should have Short Sale Approval with in days on this one. We have a dedicated Short Sale Negotiator just to handle these types of situations and helping folks stay out of Foreclosure.

For Sale: 3BR/2BA Single Family House in Clearwater, FL, $118,000

Dave — Fri, 25 Jun 2010 19:24:38 +0000

For Sale: 3BR/2BA Single Family House in Clearwater, FL, $118,000.

Just receive Bank Approval on this Short Sale!!! Yea! Looking forward to closing this with in 30 days!

The Home Affordable Foreclosure Alternatives Program

Dave — Wed, 05 May 2010 11:32:28 +0000

Trying to reduce the rising number of foreclosures in the U.S., the Treasury Department introduced a new federal program that makes it easier to process a short sale for people unable to keep their homes.

Home Affordable Foreclosure Alternatives (HAFA) streamlines the process for doing a short sale or deed-in-lieu of foreclosure for distressed homeowners who do not qualify for a federal home loan modification through the Home Affordable Modification Program (HAMP) or have missed consecutive payments after a modification.

The HAFA program started April 5, 2010, and ends December 31, 2012. Federal rules require servicers participating in HAMP to implement HAFA. The new program also requires borrowers to be released fully from future liabilities related to their first mortgage, including cash contributions, promissory notes and deficiency judgments.

Participation in HAFA cannot save homeowners from losing their property, but it can eliminate the effects of a foreclosure on their credit. Financial incentives for program participation include a $1,000 servicing bonus for lenders and a $1,500 relocation bonus for displaced homeowners. Lenders of other subordinate liens (e.g., HELOCs) may be allowed to keep a limited portion of the proceeds (up to $3,000 each) of a short sale, with the first-lien lender’s approval.

HAFA is designed for homeowners who have applied to HAMP for assistance but have had no success with their loan modification program. To participate in HAFA, homeowners must still meet HAMP’s eligibility criteria: home is principal residence; first-lien mortgage is in delinquency or default is reasonably foreseeable; loan closed before January 1, 2009; unpaid balance is under $729,750; and the mortgage payment is over 31% of gross income.

For more information on HAFA, go to the following link:

https://www.hmpadmin.com/portal/programs/foreclosure_alternatives.html