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The Risks and Rewards of Purchasing a Bank-Owned Home
The process of purchasing a home directly from a lender can be long and arduous, but could very well be worth it in the end. If you have your sights on a particular home or are looking to find a deal on your first, working directly with the lender may be your only option. Purchasing a bank-owned home is not for the faint of heart, here are some tips for negotiating the REO process:
U.S. Government $10,000 Short Sale Incentive Expires December 30, 2016
The federal government’s Home Affordable Foreclosure Alternatives (HAFA) Program is set to expire December 30, 2016. The program pays homeowners $10,000 to complete a short sale rather than go through the foreclosure process.
Since the application deadline for HAFA is only a few months away, it is important for homeowners to apply as soon as possible.
Major Changes Coming to Home Affordable Foreclosure Alternatives Program (HAFA)
As of June 1, there will be significant changes to the HAFA program. The updates will allow a homeowner to remain current on their mortgage, qualify for HAFA, and go through a short sale with less of an impact on their credit.
