Dave Halpern Louisville Short Sale Expert (502) 664-7827

Posts Tagged ‘HAFA

The Importance of Using a Short Sale Expert

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 The Importance of Using a Short Sale Expert

By David Halpern, Louisville Short Sale Expert, (502) 664-7827 and (502) 895-3100

In my city alone there are hundreds, maybe thousands, of homeowners who unnecessarily lose their homes to foreclosure each year who could have avoided it if their Realtor would have successfully procured a short sale.

Even a highly trained short sale expert cannot stop a bank from defeating itself and not every short sale will get to closing. But it is the Realtor’s responsibility to diligently and methodically go through the dozens of extra steps that don’t exist in a traditional listing.

With the introduction of HAFA short sales the homeowner has the opportunity of receiving great incentives for successfully completing a short sale, namely mandatory debt forgiveness and a $3,000 cash payment from the lender. Realtors who fail to procure the short sale can cause their clients to lose these monetary incentives.

Realtors who are not thoroughly trained and don’t have the time, staff or resources to handle short sales should simply not take on this complex negotiation. The clients come first and it is imperative that they get the best chance of avoiding foreclosure.

If a traditional sale doesn’t sell in a timely manner the seller will endure some sort of inconvenience. However, if a client is facing foreclosure and the short sale doesn’t happen on time or doesn’t take place at all, the seller can suffer irreversible monetary and emotional damage.

Often Realtors feel obligated to take a short sale listing because of their friendship or prior relationship with the seller. Other professionals such as doctors and lawyers refer clients to specialists. Contractors bring in specialized subcontractors. Likewise, Realtors should refer their short sales to Realtors who are experts in this highly specialized field. This way their clients receive the best care and the referring Realtor still gets some compensation. The referring Realtor is still the hero because he or she was resourceful enough to bring in the expert.

Dave Halpern, Broker

(502) 664-7827

Dave Halpern successfully closes dozens of short sales each year in Louisville, Kentucky. Dave has helped many homeowners avoid foreclosure and bankruptcy by skillfully procuring a short sale for them. The seller has zero out of pocket costs. The foreclosing lender pays all closing costs and commissions on behalf of the seller. Many Realtors in the Louisville area refer and outsource their short sales to Dave due to his extremely high success rate.

Please check these testimonials from satisfied clients https://davehalpernlouisvilleshortsaleexpert.wordpress.com/category/david-halpern-testimonials/

How to choose the right Short Sale Realtor http://shortsalesrealtorslouisvilleky.wordpress.com/2010/03/21/short-sales-in-louisville-–the-right-realtor-makes-all-the-difference/

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The Reality About HAFA Is No One Knows What the Reality Is Yet

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As of the writing of this blog post on April 17, 2010, the reality of HAFA is that no one knows what the reality is yet. It’s simply too early to know how lenders and upside down borrowers will respond.

HAFA is the new government and lender program designed to help homeowners who could not get a loan modification. The goal is to expedite the short sale process by streamlining the workflow and providing incentives to the borrowers and lenders. HAFA stands for Home Affordable Foreclosure Alternatives.

Both lenders and borrowers have strict timelines but great latitude in the quality of answers they have to provide within those timelines. It will probably take at least two to three months to determine the effectiveness of the HAFA program and how many borrowers in foreclosure and lenders will be helped.

All the Realtors, lawyers and loss mitigators can recite the HAFA guidelines all day long, but the real answer will be revealed once we collectively process thousands of new short sales with the new guidelines.

In the meantime, let’s all stay positive and optimistic.

Dave Halpern, Real Estate Broker

 (502) 664-7827

Dave successfully closes dozens of short sales each year in Louisville, Kentucky. Dave has helped many homeowners avoid foreclosure and bankruptcy by skillfully procuring a short sale for them. The seller has zero out of pocket costs. The foreclosing lender pays all closing costs and commissions on behalf of the seller. Many Realtors in the Louisville area refer and outsource their short sales to Dave due to his extremely high success rate.

http://shortsalesrealestateagentslouisvilleky.com/

http://www.LouisvilleShortSaleExpert.com

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