Help for Struggling Homeowners!

The latest government rescue plan for homeowners are two new programs Home Affordable Modification Program (HAMP) and the Home Affordable Foreclosure Alternatives (HAFA) program. If HAMP won't work, which it hasn't for 93% of struggling homeowners then HAFA is the follow-up option.

These programs are designed to assist:

1. Owner-occupied properties which are currently delinquent on mortgage payments or in default.
2. Mortgage balance is less than $729,750 purchased prior to January 1, 2009

If a borrower qualifies, HAMP can reduce interest rates down to 2%, extend a mortgage to 40 years and even waive interest on deferred payments.

HAFA steps in to assist borrowers who are unable to complete HAMP or go into default and miss payments while in HAMP. HAFA was designed to streamline and simplify the short sale process including accepting a Deed in Lieu (handing over the keys to the bank) or signing a short sale agreement with the bank.

If you are a seller struggling to keep your home there are numerous options for you. None of them are easy or a quick fix, but help is out there to keep you in your home.

If you have any questions please do not hesitate to call or email me- I'm here to help!

(619) 224-7249 or ashley.degen@gmail.com