Josh Talayka | July 25, 2011
At the onset of our current economic recession, the majority of distressed homeowners having difficulty paying their mortgage came from the subprime sector where borrowers were facing adjustable interest rates. As the markets have continued to worsen and unemployment/wage reductions have increased, these defaults have expanded to include all types of mortgages, including FHA. However, one of the benefits of an FHA mortgage is that there are many workout options in place to assist borrowers. The following are just a few of the workout options that the Department of Housing and Urban Development (federal agency that regulates and insures FHA mortgages – HUD) has in place:
Category: FHA loans, Loan Modification Series, Short Sale & Foreclosures |
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Tags: Chase International, Deed-in-Lieu, FHA, forbearance, foreclosure options, Foreclosure Prevention, HUD, Loan Modification, Making Home Affordable, MHA, Nevada, NV, partial claim, Pre-foreclosure Sale, Real Estate, reno, short sale, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
Josh Talayka | August 6, 2010
The federal government’s guidelines for standardizing short sales have been in effect since April 5, 2010. These guidelines are an addition to Obama’s Making Home Affordable program. The new HAFA program is designed to offer an alternative solution in the form of a standardized short sale for homeowner’s who meet minimum eligibility for the Home Affordable Modification Program (HAMP), but are still unable or unwilling to work out a plan to stay in their home. The program offers cash incentives to borrowers who participate and ensure any remaining debt is forgiven.
Category: HAFA, Loan Modification Series |
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Tags: Chase International, debt forgiveness, Foreclosure, HAFA, HAMP, Home Affordable Foreclosure Alternative, Making Home Affordable, Nevada, NV, Real Estate, reno, short sale, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
Josh Talayka | August 21, 2009
There are several options that may be available to homeowner who are in default, or about to be in default on their mortgage. These options include: Loan Modifications, Prepayment Plan, Making Home Affordable, Short Sale, Deed in Lieu of Foreclosure, and more.
Category: Financing/Mortgage Topics, General, Loan Modification Series, Short Sale & Foreclosures |
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Tags: Chase International, deed in lieu of Foreclosure, Foreclosure Prevention, home retention, HomeSaver, Loan Modification, Making Home Affordable, NV, reno, repayment plan, short sale, Talayka
