Another Upper Marlboro, Maryland short sale SOLD By Steve Queen. The featured property below was accepted into the Homes Affordable Foreclosure Alternative Program (HAFA) by the bank. This program releases the seller of any claim from the bank in reference to the loan deficiency and provides the seller with $3,000 in relocation funds. 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.
Please Use The Links Below For Home Listing Information On All Upper Marlboro Properties!
To view all available Upper Marlboro properties for sale please click here. To view all available Upper Marlboro foreclosure properties please click here. To view all of available Upper Marlboro short sale properties please click here. To view all available Upper Marlboro single family homes please click here. To view all available Upper Marlboro condo & townhouses please click here. To view all properties through out Maryland, Virginia and the District of Columbia please click here.
|1008 Wood Branch Ct # 406 Upper Marlboro, MD|
|This stately 3 bedroom 2 1/2 bath garage town home is located in the highly sort after watkins Place. The main level shows like like a model and boast an incredibly spacious living room. This level also includes an eat in gourmet kitchen with 42 inch cabinets, a built in Microwave, a pantry and a sliding door to the balcony to enjoy your morning coffee. The master suite includes a spacious walk in closet and a master bath with a separate shower, dual vanities and linen closet. This home includes recessed lights, new paint, a fireplace a garage, and much much more. Call Steve Queen at (202) 367-4348 for your personal tour.|
Update on Department of Justice
Under the agreement, Bank of America:
- Is implementing a new modification program that offers principal reduction to qualified customers.
- Will work to lower interest rates to provide reduced payments for eligible homeowners who are current on their payments but owe more than the current value of their homes (mortgage must be owned by the bank).
- Will continue to help customers who are pursuing short sales and may offer additional assistance programs, such as deed in lieu of foreclosure and/or financial assistance to help those who are transitioning out of their properties.
How this may affect short sale agents:
Some customers who are currently in the short sale process may qualify for this program. Customers who are pursuing a short sale can continue with the process while in review for the DOJ principal reduction program. If a short sale customer is approved for the DOJ principal reduction modification, they will then have to decide which option is best for them, either continuing with the short sale or accepting the modification.
If the customer chooses to accept the modification, then they are electing to discontinue their short sale. It is important for the customer to consider all options and determine which one is best for them based on their individual needs.
Furthermore, the borrower needs to understand that there could be legal implications to cancelling the short sale if they have already entered into a contract with a prospective buyer in the short sale process. The borrower should consult with you and an attorney before making this important decision. There is no guarantee that a customer will be approved for either a short sale or the DOJ principal reduction program.
Short Sale/Deed in Lieu
- Homeowner can move into more affordable housing.
- If the homeowner has already signed a short sale contract, they should discuss their legal and financial obligations with their trusted advisors, such as a legal counsel or real estate agent.
- If the homeowner cancels the short sale or deed in lieu, they will not be eligible for relocation assistance.
DOJ Principal Reduction
- Homeowner may be able to stay in their property at a lower monthly payment.
- If approved, homeowner will improve their equity position.
- If declined, homeowner can reapply at a future date or continue to pursue a short sale; however, foreclosure activities may resume. NOTE: Foreclosure activities may continue based on state and investor guidelines.
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