Prevent a Foreclosure in Olathe, Kansas - Do You Qualify for a HAFA short sale in Olathe, Kansas?

Prevent a Foreclosure in Olathe, Kansas - Do You Qualify for a HAFA short sale in Olathe, Kansas?

In order for a Olathe homeowner to qualify for a HAFA short sale they must meet the HAMP eligibility requirements. Without getting to technical, the requirements are:

1. The home must have been used as a principal residence and not vacant for more than 90 days. If the homeowner moved it must have been for a new job or for a job transfer.
2. The homeowner must have originated the first mortgage on or before January 1, 2009.
3. The homeowner must be in delinquency with the first mortgage or delinquency must be foreseeable.
4. The homeowner must have a current unpaid principal balance that is $729,750 or less.
5. The homeowner's monthly mortgage obligation must exceed 31% of the gross monthly income.
6. The homeowner must have a HAMP qualified servicer.

If the Olathe homeowner meets these requirements, then they should contact a HAFA short sale specialist. If not all requirements are met, maybe a HAFA short sale specialist can direct you to a Kansas City specialist who cab help you prevent a foreclosure.

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Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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