The Law Offices of ALG and Associates - Short sales

Why Short-Sale Instead of Foreclosure? 
  The Government Shortsale Program (HAFA – Home Affordable Foreclosure Alternative Program) is great for homeowners who are struggling with their mortgage payments due to a financial hardship, and who have attempted a Loan Modification and either have been unsuccessful or are unable to afford the modified payments.

  Some of the benefits of HAFA are:

• The homeowner receives $3,000 from the Government!
• Released from loan responsibility and not required to pay back lenders financial loss on property – no tax responsibility. (First liens only under SB-931)
• The borrower may still be eligible, under Fannie Mae guidelines, to buy another home in 2 years instead of 5 to 7 years!
• The homeowner can avoid the social stigma of Foreclosure and severely damaged credit for each borrower!
• The borrower can meet the new homeowners!
• The bank(s) get paid by the Government to Short Sale the home, motivating them to settle! (The 1st pays the 2nd)

ALG and Associates Tip:
Did you know that as of April 5, 2010 if the loan servicer had signed onto the HAMP program, that servicer is mandated to implement the HAFA Program?Participating servicers are required to consider all eligible Borrowers for HAFA before the Borrower’s loan is referred to foreclosure!Servicers and investors of both first and second liens are required to fully release the Borrowers from future liability for the debt under HAFA. An important component of the HAFA program is that future liability for the first and second liens must be released allowing a fresh start – in other words, no deficiency.How Can ALG and Associates Help Me?

ALG and Associates’ Real Estate Division – John Hart Real Estate can first list the property; in addition to being listed on the local MLS (Multiple Listing Service), we also utilize the California-RETS (Real Estate Technology Service). Basically this service presents the property to 30 different Realtor Associations comprised of over 106,000 Real Estate Professionals in Southern California alone!  And of course it’s also listed on National Sites such as Realtor.com.

• We even take video and pictures, and create a specific website designated to the property, with Google Street View Imaging and Mapped Directions to the Property to stimulate buyer interest in the home!

Also, within 24 hours the client will be contacted by our John Hart Processing Team who will help them complete the Short Sale Package. Once we get the package completed we will thoroughly review it while applying our knowledge, experience, and expertise to present the most appropriate package to your lender.  Once completed, and once we’ve secured an offer on the property we work toward achieving a successfully negotiated transaction with the lender directly, and open escrow on the property using our own in-house escrow company!

• It’s important to note that the terms of the Short Sale are negotiated by an Attorney, The Law Offices of ALG and Associates which maximizes efficiency and ultimately the results of the negotiated terms.

And finally, the Shortsale is at no cost to you!  As part of our Short Sale negotiation we include the fees to John Hart Real Estate and ALG and Associates in the Listing Price!The Law Offices of ALG and Associates can help advise you of the best way to eliminate your debt – For more information for our Short Sales Process please visit www.lawoficesofalg.com or give us a call for a free consultation: Toll Free: 888-LAW-3111

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