Colorful & Diverse are the words to describe this Event!
The Martina Diaz & Associates team showed up and represented the Real Estate world at this years SouthBay Pride & Music Festival at Memorial Park.
More than providing informationa about Short Sales and Foreclosure prevention we were there to show our support and to provide anyone with answers to any questions that they might have. This is our third consecutive year of attending this event and providing the community with options available to them. Our consultations are free, and with no obligations.
With this changing market, it is always important to be aware of what category you fall under. Whether it be to buy, sell or invest, knowing your options and making an educated decision is always important.
For Sellers, the government is encouraging and mostly making it a requirement for you to go through the HAMP program before continuing with the HAFA short sale program, yet the HAMP program has not been a "raging success"...in fact :
From “The Government Goes Media on Foreclosure Alternatives,” this excerpt talks about the possibility of HAFA being more successful than the HAMP program:
"The HAMP program has not been a raging success. In fact, nearly 521,000 trial modifications have been cancelled and over 60% of those have been trials for six months or more. Only 398,000 borrowers have been converted from trial loan-mods to permanent workouts. Over 45% of cancelled trials are now in a an alternate modification program offered by the servicers. But, of those, at least 6% are still falling back into a 60+ day delinquency status. There are no official HAFA stats to report, but it should be more successful overall then HAMP"
We have actually had some great success in getting our sellers approved with the HAFA program, offering our sellers up to $3,000 for relocation costs. This provides our sellers great help while going through a short sale and looking for a place to relocate to. Options are always available, it is all about choosing one that works for you!
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