West Sacramento Short Sale Information - Can I short Sale and Stay in My Home?

Mike Rigley Certified Default Advocate, Distressed Property Expert and your short sale specialist here thank you for joining us. Today let’s talk about if you can stay in your home after a West Sacramento Short Sale.

The answer is “maybe” and then only if you qualify for the HAFA Short Sale Lease Back Program. You see, most West Sacramento Short Sale Lenders require you to sign an Arm’s Length Affidavit that states there is no agreement, written, verbal OR implied that will allow the seller to remain in possession of the property either as a tenant or with the possibility of buying the property back at some future time.

Now, while for the most part this is true with most of the West Sacramento Short Sales completed, there is a new program available that will allow you as the seller to not only lease back the property but potentially buy it back at a later date.

HAFA directive 11-02 released on March 30, 2011 included ground breaking instructions to, and I quote “allow servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA requirements are met.”

Not everyone will qualify and not every lender will approve the total package but for those who meet the criteria it can be a heck of a program.

Because the program is in its infancy, there are relatively few West Sacramento Short Sale Specialists authorized and approved to administer this program. In fact to my knowledge, in Northern California I am the only West Sacramento Short Sale Specialist pending approval for the program. I have had to make a number of trips to Southern California for training in an effort to get my certification and believe me there are quite a number of hoops to jump through to become certified. Once everything is in place I will be able to share more with you and see if you qualify.

Is a West Sacramento Short Sale Right for Me? Call me and let’s discuss your particular situation.

To get a better idea of when your West Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you’ll be glad you did