FOR IMMEDIATE RELEASE
September 27, 2011

Contact: Kristen Snedeker
Ph: 916-455-5225, Ext. 7
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UPCOMING WORKSHOPS:

October 15, 2011
South Natomas Community Center
2921 Truxel Road
Sacramento, CA 95833

November 5, 2011
3620 American River Drive, Suite 150
Sacramento, CA 95864

Homeownership is still the American dream; however the process of purchasing a home can be costly and complex in today's distressed and dynamic market. Code 3 Realty & Mortgage is going to do our part to alleviate the fears of both prospective home buyers and their agents by education.

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Although short sales are not hassle-free, at least you've got the government backing you. The Home Affordable Foreclosure Alternatives program (HAFA program) provides financial incentives for lenders and borrowers to avoid foreclosure through short sales.

Participation in the HAFA program requires adherence to guidelines—including a standard process and minimum timeframes—that speed the process. The HAFA program is for homeowners who can’t keep their homes with the help of a loan modification.

• You can be a homeowner again more quickly with a short sale in your past than with a foreclosure. New Fannie Mae guidelines help you qualify for a new mortgage in as little as two years after a short sale, as opposed to up to seven years after a foreclosure.
   
• You will have more time to make relocation plans and save money than with a deed in lieu. A short sale may take four to 12 months. A deed in lieu of foreclosure arrangement typically requires you vacate your home within 30 to 60 days of signing.
   
• You can receive up to $3,000 from your lender for moving expenses at the time of closing of a HAFA short sale. Relocation funds are part of the incentives of HAFA, but not necessarily for other short sale or deed in lieu programs of the lenders.
   
• You can help your community's home values. Because the lender often receives a higher amount of the remaining loan balance than it would from the sale of a home after a foreclosure, short sales help support home values in the surrounding community.
   
• Contact us to schedule your free legal consultation!
   

• Find a qualified Greater Sacramento REALTOR® experienced in short sales. Short sales are tough to navigate, and they're further complicated by your loan type-FHA vs. Veterans Administration vs. conventional loans. Real estate agents who specialize in short sales will know the proper steps and order of the steps involved. They'll also be able to navigate the many parties involved in the process and over-burdened loss mitigation departments. Look especially for agents who have Short Sales and Foreclosure Resource (SFR) Certification, which requires specialized training.
   
• Gather evidence to support your need for a short sale as opposed to a foreclosure. You'll need to prove that you have little or no equity in your home, you're behind on your payments, and you’re no longer able to afford your home. You'll need to write a hardship letter to the lender describing your circumstances, such as a divorce, job loss, illness, death, or other event that has impacted your income.
   
• Code 3 Real Estate has a staff of some of the most experienced negotiators in the nation. We are effective because most of our employees have worked and managed in the lender's loss mitigation departments and have been trained in short sales as their specialty. Our staff has successfully negotiated over 100 short sales with most, if not all banks. Some of those banks include; Chase Bank, EMC Mortgage, Wells Fargo, HSBC, Wachovia, Litton Loan Servicing, OCWEN, Homecomings Financial, GreenPoint Mortgage, Specialized Loan Servicing, Bank of America, HomEq Servicing, JP Morgan, IndyMac Bank, Countrywide Mortgage, Saxon, ING Direct, US Bankcorp, WAMU, First Franklin, AHS and many more...contact Code 3 Real Estate today!