If you’re concerned that your house may be foreclosed, a short sale is an option to consider.
A short sale is an option to customers who’s home value is less than the amount remaining on the mortgage, and can no longer afford their property. A short sale could allow the home owner to sell the house and settle your mortgage debt.
Here, you’ll find links related to short sale
– Home Affordable Foreclosure Alternatives (HAFA) Program – An official program of the Departments of the Treasury & Housing and Urban Development. Link here
– HAFA Eligibility requirements and more. link here
– Bank of America – BOA Short Sale Programs
– Chase Short Sales FAQ – Chase Homeownership Center. Link here
– Wells Fargo Help for Homeowners: As your mortgage servicer, Wells Fargo Home Mortgage may accept the proceeds of the sale as payment in full. This option can help you avoid a foreclosure sale and may be considered even if the foreclosure process has started. link here
Who owns your mortgage ?
To understand the options available, it’s important for you to know who owns your loan.
- Fannie Mae Loan Look-up – The Fannie Mae Loan Lookup enables mortgage borrowers to quickly determine if Fannie Mae owns their loan
- Freddie Mac Loan Look-up – you can quickly find out if Freddie Mac owns your loan