Dickson Realty, Sparks Branch
4870 Vista Blvd. #100, Sparks NV 89436
Certified Five Star Default Professional
NFSTI Certified
PAS Default School Graduate
News from Washington, D.C., 5/14/09 - Summary: The Obama administration announced new details under its Foreclosure Alternatives Program (FAP) enabling servicers and borrowers to pursue short sales and deeds-in-lieu (DIL) of foreclosure in cases where the borrower is generally eligible for a Making Home Affordable modification but does not qualify or is unable to successfully complete the three month trial period. The program, effective through 2012, requires that prior to proceeding with a foreclosure, servicers must determine if a short sale is appropriate.
In the Short Sale Agreement, servicers must give borrowers/homeowners at least 90 days to market and sell the property, or up to one year, depending on market conditions. The property also must be listed with a licensed real estate professional with experience in the neighborhood, and no foreclosure may take place during the marketing period, of at least 90 days, as specified in the Short Sale Agreement.
HOW MUCH IS YOUR HOME WORTH?
Do you see the MLStimate link to the left? Just click on it and a new screen will open. Fill out the form and you'll receive your answer. It's quick!