Naples Florida Short Sales

Follow Me On:

Benjamin Sovacool

Taylor Donovan Realty, Inc.

8113 Tauren Ct

Naples, Florida, 34119

Office: 239-234-6900

Cell: 239-285-7443

Fax: 239-262-7112

Ben@TaylorDonovan.com

www.Taylordonovan.com

Lic. #: BK3119015

Naples Florida Short Sales - HAFA Flowchart

Borrower does not qualify for HAMP trial or can not complete trial	Borrower is delinquent on HAMP by at least 2 payments	Borrower requests a short sale


	Lender must consider and document borrowers eligibility for HAFA within 30 days	Ineligible	Lender documents date and outcome of consideration
Key - Borrower - Lender	Eligible
Key - Borrower - Lender	Lender must send borrower notification of short sale in writing		Consult a Naples short sale REALTOR to explore other options

	Borrower contacts the servicer within 14 days of notification and requests consideration

	Lender reviews borrowers financials and assesses the current value of the property. Lender also reviews information on junior liens.	Ineligible	Lender communicates the decision in writing and explains why a HAFA short sale is not available.
	Eligible
	Lender issues a short sale agreement filled out with loan information and a request for short sale approval.		Consult a Naples short sale REALTOR to explore other options

	Borrower must list the property with a licensed Naples short sale REALTOR to proceed.

	Borrower must sign and return short sale agreement along with copy of listing agreement within 14 days.

	Borrower is allowed 120 days to obtain an offer

	Borrower receives an offer and submits it to lender within 3 days along with request to approve short sale.

	Lender must sign and return request to approve short sale within 10 business days indicating approval or denial of offer.	Offer denied	Lender must send notification stating reason for denial
	Offer approved
	Lender may require the closing to take place within a reasonable time frame, but not less than 45 calendar days from approval date.		Consult a Naples short sale REALTOR to explore other options

	Closing process
	Success!
	Lender releases 1st lien within 30 business days of funding and the investor waives the right to seek deficiency judgment.

If you have a question about HAFA or are in need of a qualified Naples short sale REALTOR please contact me using the form below to set up a free consultation.

Last Updated ( Tuesday, 11 January 2011 )

< Prev		Next >

[ Back ]

Syndicate this Site

Get the newest real estate Information from our site delivered right to your desktop!

Sitemap

Just Listed RSS Feed

See the newest properties as soon as we enter them in your favorite feed reader!

Don't worry about missing the right one... we make it easy for you!

Short Sale Disclosure

Taylor Donovan Realty, Inc. is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.