Steve Queen Real Estate Blogs!: March 2012

Laurel Maryland Short Sale Experts & Bank Of America Programs

Another Laurel, Maryland home Sold By Steve Queen. Also, Another property that was accepted into the Homes Affordable Foreclosure Alternative Program (HAFA) by the bank. This program allowed the seller $3,000 in relocation funds and forgives the seller of any delinquency. If you are interested in information about the Short Sale Process, The Homes Affordable Foreclosure Alternative Program (HAFA) or The Home Buying Process of any property in Maryland or the District of Columbia, please Call Steve Queen for your personal consultation at (202) 367-4348.

Laurel short sale agent Steve Queen offers all potential home sellers and purchasers a link to view all available properties for sale in Laurel. This link provides potential sellers the opportunity to view all prices and the condition of neighboring homes that are also for sell. The link provides all potential buyers with the opportunity to view all available listings in Laurel, Maryland sub-divisions.

view all available Laurel properties for sale please click here. To view all available Laurel foreclosure properties please click here. To view all of available Laurel short sale properties please click here. To view all available Laurel single family homes please click here. To view all available Laurel condo & townhouses please click here. To view all properties through out Maryland, Virginia and the District of Columbia please click here

14104 Oxford Dr Laurel, MD
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NEW TO THE MARKET!!! This home is located in the highly sought after Laurel Lakes Community. You will admire the beauty of this pristine home instantly upon arrival. This three bedroom, two full bath and one half bath home is in mint condition from top to bottom. You will be impressed upon entry with the gleaming hardwood floors. Prepare your meals in the kitchen with its ample cabinet space, a pantry and a wonderful view out to your private deck. Enjoy your meals in the large eat in kitchen or dinning area. Enjoy the evening in the incredibly lit living room with its beautiful sky lights. Entertain in the spacious fully finished basement that will amaze you in size. The walk out basement includes a laundry room and exits to a fenced rear. Retire to the spacious master bedroom suite that includes an over sized walking and a master bath with a whirlpool tub. This home boast hard wood floors on the top two levels and much much more. Laurel Lakes Community offers a jogging/walking trail, children's playground, a gorgeous lake, a baseball field and tennis court. In Laurel Lakes when you purchase a home you purchase a community. This home will leave nothing to be desired. Call Steve Queen for your personal tour at 202-367-4348 or email me at squeenofexit@aol.com. Please feel free to visit www.stevequeen.com to view this home and other properties listed by Steve Queen.
MLS# PG7521278
$220,000
3 Bed, 2 1/2 Bath
14104 Oxford Dr
Laurel MD, 20707

EXIT BENNETT REALTY

Steve Queen
Steve Queen
EXIT BENNETT REALTY
202-367-4348
 


Laurel Maryland Short Sales - The Complete Guide by squeenofexit
Laurel Maryland Home Sales - Your Complete Guide by squeenofexit
Laurel Maryland Homes - The Complete Purchasing... by squeenofexit

 

Is the Home Affordable Foreclosure Alternatives program right for me?

Program goal

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.

Eligibility

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

  1. Call icon

    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.

  2. Approval icon

    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.

  3. Market icon

    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.

  4. Offer icon

    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.

  5. Closing icon

    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.

How do I get started with a Home Affordable Foreclosure Alternatives program?

Before we begin

To start the Home Affordable Foreclosure Alternatives (HAFA) program you need to call us to request to sell your home in a short sale.

If you haven’t applied for a Home Affordable Modification prior to requesting a short sale, we’ll check to see if you meet that program’s eligibility requirements first. To do this you’ll need to update us on your financial information.

Let us help you

Call us today at:
1.866.880.1232

8am-10pm EST Mon-Fri
9am-5:30pm EST Sat

To help you keep track of important deadlines and take notes during the call, please print out this form prior to calling.

Now that I’m in the process, what’s next?

If you’re in the process of selling your home in the Home Affordable Foreclosure Alternatives (HAFA) program, we can help you understand what you need to do next.

I have requested a HAFA short sale.

Once you’ve requested a short sale, you’ll have to update us on your current financial situation. As part of the Home Affordable Foreclosure Alternatives program, we’ll review your information and check your eligibility for a Home Affordable Modification or other home retention programs that would reduce your monthly payments to enable you to stay in your home.

If you do not qualify for a modification or no longer wish to stay in your home, then we’ll begin to work with you on a short sale.

I’m preparing to put my home on the market.

We’ll need to determine an acceptable price for you to market your home. You may have heard this referred to as a fair market value. To determine the fair market value, we’ll order a valuation of your home.

We’ll also work with all parties necessary to approve your first mortgage HAFA short sale request. Even if you are pursuing a short sale with us, in most cases, there is a third party that has ownership of the loan. We will need their approval in order to finalize the short sale.

If the sale is approved, you’ll receive a Short Sale Agreement with the acceptable offer price for your home. You’ll need to sign and return this agreement to us within 14 calendar days.

If you have a Bank of America home equity loan or line of credit (also referred to as a second lien), we’ll take care of getting approvals for your HAFA short sale request. But, if your home equity loan or line of credit is with another lender, you will have to contact that lender and have them sign a Second Lien Release form before any offer can be considered. To avoid any delays, it’s in your best interest to contact them right away.

I am trying to find a buyer.

Under a HAFA short sale, you are required to work with a licensed real estate professional. We strongly recommend working with an agent who has experience with short sales. They can help guide you through the process, and you won't have to pay the cost of the agent since they’ll be paid from the sale of the house.

Typically, you’ll be given 120 calendar days to market and sell your home.

I have received an offer on my home.

Once you receive an offer, you will have 3 calendar days to submit the offer letter (signed by the buyer) as well as a Request for Approval of a Short Sale. If you have a home equity loan or line of credit (also referred to as a second lien) on your home with another lender, we cannot consider any offer without a signed Second Lien Release form. We’ll get back to you with a decision within 10 business days.

The offer on my home was accepted.

Once we accept the offer, we will provide you with an approval letter releasing the home for purchase. With everything in order, final documents will be prepared for closing. You will receive a letter outlining the details of the sale of your home and a set of the documents that must be signed, notarized and returned to us before your HAFA short sale can be completed.

As with any home sale, unless otherwise negotiated, you will need to move out of your house by the closing date. At the closing, you will receive $3,000 to help you with your relocation expenses. The sale of your house is now finalized and your mortgage and any other loans against the home are settled from the proceeds of the sale. Under the Home Affordable Foreclosure Alternatives program, you are fully relieved of any obligation to repay the mortgage.

Home Loan Assistance Frequently Asked Questions

It may be possible, depending on your loan and circumstances. Please call us at 1.866.880.1232 to discuss your options.

  • Five documents will be required for short sales initiated with an offer:
    1. Purchase Contract including the Buyer's Acknowledgment and Disclosure
    2. HUD-1
    3. IRS Form 4506-T
    4. Bank of America Short Sale Addendum
    5. Bank of America Third-Party Authorization Form*

 

 

Laurel Homes             Single Family Homes   Condo / Town homes

Foreclosures                      Short Sales                Real Estate Blogs!

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.

My Real Estate Blogs Your Quick Home Search
 
 
Because buying or selling a home is a big decision, Steve Queen with Exit Bennett Realty is your Real Estate Expert in Bowie, Upper Marlboro, <a target="_blank" href="http://www.stevequeen.com/web/AR420123/ListingSearch/load_saved_search/?ss_id=5084105&am</body></html>

 

* We will require the new Bank of America Third-Party Authorization Form for all 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.

     
  • New time frame: Five

                            

           My Real Estate Blogs                                                Your Quick Home Search
 
 
 
 
 Because buying or selling a home is a big decision, Steve Queen with Exit Bennett Realty is your Real Estate Expert in Bowie, Upper Marlboro, Greenbelt, Lanham, Laurel, Glenn Dale,Crofton, Glen Burnie, Clinton, Hyattsville and all other cities in Maryland and the District Of Columbia. You will have step by step guidance to access resources to make the transaction smooth. Call me today at (202) 367-4348. You are my #1 priority. Please give me the opportunity to prove it.

  View foreclosures, homes for rent or purchase as well as obtain valuable information on the home buying and selling process at www.stevequeen.com. I specialize in Short Sales
0 commentsSteve Queen • March 25 2012 03:27PM
Laurel Maryland Short Sale Experts & Bank Of America Programs
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Another Laurel Maryland home Sold By Steve Queen Also, Another property that was accepted into the Homes Affordable Foreclosure Alternative Program (HAFA) by the bank. This program allowed the seller $3, 000 in relocation funds and forgives the… more
Laurel Maryland Short Sales & The Homes Affordable Foreclosure…
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Another Laurel Maryland home Sold By Steve Queen Also, Another property that was accepted into the Homes Affordable Foreclosure Alternative Program (HAFA) by the bank. This program allowed the seller $3, 000 in relocation funds and forgives the… more
Upper Marlboro Short Sale Experts - Homes Affordable Foreclosure…
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Another Bowie Maryland home listed By Steve Queen Also, Another property that was accepted into the Homes Affordable Foreclosure Alternative Program (HAFA) by the bank. If you are interested in information about the Short Sale Process The… more
Bowie Short Sale Agents - Homes Affordable Foreclosure Alternative..
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Another Bowie Maryland home listed By Steve Queen Also, Another property that was accepted into the Homes Affordable Foreclosure Alternative Program (HAFA) by the bank. If you are interested in information about the Short Sale Process The… more
Upper Marlboro Short Sale agents - Homes Affordable Foreclosure…
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Another Upper Marlboro Maryland home listed By Steve Queen Also, Another property that was accepted into the Homes Affordable Foreclosure Alternative Program (HAFA) by the bank. If you are interested in information about the Short Sale Process… more