Fort Washington short sale agent Steve Queen offers another Fort Washington Home for sale. This beautiful colonial located in the Aragona Village community is priced at $249,900. The property has been approved for the Homes Affordable Foreclosure Alternative (HAFA) program. This program allows the seller $3,000 for relocation assistance and a waiver on any delinquencies resulting from the sale of the property. Please call Steve Queen for information on selling your Fort Washington home thru the short sale process. With many successfully completed short sales, Steve has become one of the strongest short sale agents in the area. Call Steve at (202) 367-4348 for your personal consultation. Please visit www.stevequeen.com to view this or any available home listings.
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|10900 John Paul Ave Fort Washington, MD|
|New To The Market! This beautiful colonial is located in the highly sought after Aragona Village Community. A stately community located minutes from the new National Harbor, shopping, Route 495, the District of Columbia and Virginia. Arrive and enter to hardwood in the foyer area. Enjoy the eat in kitchen with it's double oven and 42 inch cabinets. Recline in the sun filled family room and enjoy the fireplace. The Master suite includes his and her walk in closets, a sitting area, and vaulted ceiling. The Master bath has double vanities a soaking tub and a separate shower. This home also boast fresh paint, a two car garage, a sprinkler system, a spacious deck off the rear and much much more. Call Steve Queen at 202-367-4348 for your personal tour or visit www.stevequeen.com.|
This important information was sent out to short sale agents with in Bank of America's data base. I have used the homes affordable foreclosure alternatives program for my clients in many of my short sale transactions. If accepted, this program will not only help the seller to obtain up to $3,000 for relocation fees. This program will also assist the seller with having the deficiency difference between the net amount owed to the bank from the short sale and the original loan amount waived. This program can be a win win situation for many homeowners. Under the HAFA program you are required to work with a Realtor. Give Steve Queen a call with any questions at (202) 367-4348.
Is the Home Affordable Foreclosure Alternatives program right for me?
The Home Affordable Foreclosure Alternatives (HAFA) program was developed to give homeowners a way to settle their mortgage debt without going through a foreclosure.
The goal of this program is to help you sell your home in a short sale and settle your mortgage debt if you owe more on your mortgage than your house is worth and are unable to qualify for a home loan assistance program.
This federal government program streamlines the short sale approval process and offers financial assistance to help you with relocation.
You may be eligible for the Home Affordable Foreclosure Alternatives program if:
the property is your current principal residence, OR the property has been vacant or rented out for less than 12 months, and you have not bought another principal residence during that time.
the amount you owe on your first mortgage for your property is equal to or less than:
- $729,750 for 1 unit
- $934,200 for 2 units
- $1,129,250 for 3 units
- $1,403,400 for 4 units
you owe more on your home than it’s worth
your current mortgage was taken out on or before January 1, 2009
you are experiencing a hardship (such as a job loss, divorce or medical emergency) and are unable to afford your current home loan
Program at a glance
Step 1: Call us to request a HAFA short sale and update us on your current financial situation. We’ll review your information and check your eligibility for a Home Affordable Modification or any other home retention program that would enable you to stay in your home.
Step 2: If you don’t qualify for a modification and want to sell your home, we’ll work to gain approval of your first mortgage HAFA short sale request. If you have a second mortgage with another lender, you will have to ask them for approval.
Step 3: You will be given time to market and sell your home — typically 120 calendar days. You are required to work with a licensed real estate professional.
Step 4: Once you receive an offer, you have 3 calendar days to submit a Request for Approval of a Short Sale document as well as the offer letter. We’ll get back to you with a decision on the offer within 10 business days.
Step 5: If the offer is accepted, your house is sold and your mortgage and any other loans against the home are settled from the proceeds of the sale.
Get more details on the steps of a HAFA short sale.
Bank of America Refines the Short Sale Process
Every day, Bank of America works with agents like you to help homeowners complete short sales. On April 14, we will strengthen our partnership through an improved task flow in Equator.
The new Bank of America short sale process will enable short sale specialists to complete tasks such as document collection, valuations and underwriting at the same time, reducing the time from initiation to closing.
Before April 13, you must complete the Submit Short Sale Offer, Upload Offer Documents and Upload Supporting Documents tasks in Equator for all short sales submitted with an offer. Your file may be declined if these tasks are not completed prior to April 13.
Starting April 14, you’ll see several changes:
Five documents will be required for short sales initiated with an offer:
- Purchase Contract including Buyer’s Acknowledgment and Disclosure
- IRS Form 4506-T
- Bank of America Short Sale Addendum
- Bank of America Third-Party Authorization Form
We are requiring the new Bank of America Third-Party Authorization Form for short sales initiated beginning April 14.
All messaging will remain in Equator. Agents will receive a standard notice to log in and retrieve their messages.
- Five (5) days to submit a backup offer when a buyer has walked