Short Sale Information

Click Here to visit our fully interactive Short Sale Website. Find out if you qualify for one of the new government short sale programs, download free short sale reports and much more.

Has your financial situation changed and made it hard to make ends meet? Do you think foreclosure and/or bankruptcy are your only options? The Smyrna Team may have an alternative solution. We have assembled a team of experts to help you navigate through the Short Sale process. Don’t wait until it’s too late!

Contact Us today for a CONFIDENTIAL consultation, to see if a Short Sale is right for you.

What is a Short Sale?

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here’s a more official definition:

A homeowner is ‘short’ when the amount owed on his/her property is higher than current market value.
A short sale occurs when a negotiation is entered into with the homeowner’s mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then ‘sold short’ of the total value of the mortgage

About the HAFA Program

HOME AFFORDABLE FORECLOSURE ALTERNATIVES (HAFA) PROGRAM

Many homeowners may feel that they can no longer afford their home, but want to avoid the negative effects of foreclosure. The Home Affordable Foreclosure Alternatives (HAFA) Program offers homeowners, their mortgage servicers, and investors an incentive for completing a short sale or deed-in-lieu of foreclosure. With these options, under HAFA, a homeowner leaves their home to transition to more affordable housing and alleviate the mortgage debt they owe.

These options are available for homeowners who:

do not qualify for a trial mortgage modification under the Making Home Affordable Program;
do not successfully complete the trial period for their modification;
miss at least two consecutive payments during their modification period; or
request a short sale or deed-in-lieu of foreclosure.