It is now reported that 1 out 8 home mortgages in the United States are in default. Default occurs anytime a house payment is 30 days past the due date. This means many Raleigh area home owners are struggling financially and with rising interest rates we know there is another wave of foreclosures on the horizon for North Carolina. As a Certified Distressed Property Expert (CDPE) I have negotiated many successful short sales for my clients over the past two years and the process is long and tedious. The lending institutions and Government are trying to find solutions to reduce the damage a home foreclosure causes to the economy and to shorten the short sale process. On April 5, 2010, HAFA was launched which is streamlined short sale program to help homeowner’s avoid foreclosure. There is a lot of confusion about HAFA so here is a short video to explain it in more detail.[youtube:http://www.youtube.com/watch?v=8TXx8rKy-Ow]
If you have any further questions or would like schedule a private consultation about what is best for you and your property feel free to contact us at 919-235-0007.
Have a great Thursday!