Good news if you are in the group of folks that would like to keep their Atlanta home but really can’t afford it at the moment. HARP Loans are better now and for several reasons.
First off, an Atlanta HARP loan (Home Affordability Refinance Plan) is simply put: Just refinancing your home. The fun part comes in is that the same criteria being used for a loan except the most obvious one, the appraisal. Since the market is understandably down your value is likely less than what your mortgage is, making a traditional refinance impossible and thus forcing you to contact an Atlanta Short Sale Specialist. A HARP loan is still just a refinance and it can keep you in your home only if you can afford the home. There are certain income requirements. It’s also only for Fannie Mae and Freddie Mac folks.
What are the changes to HARP?
The new HARP replaces the obligatory appraisal with a computerized model of your home value, called an Automated Valuation Model (AVM). So, whether you owe 110% or 300% of the current value of your home, you will be able to refinance to a lower rate. Source: (Atlanta Harp Refinance)
Elimination of fees that some lenders were charging.
Elimination of risk based penalties for those wanting refinance to shorter terms.
You must be current to qualify, so if you are behind, please contact us to stop foreclosure!
If you have been thinking about a short sale in Atlanta for any length of time you might have seen or heard about real estate agents who are supposedly certified short sale agents. The truth is that you can get your certification to do short sales by simply putting your butt in a seat and sitting through the class. It’s bad enough that there are real estate agents out there claiming they are certified short sale agents but what this video is about is that one agent in particular is advertising a completely bogus certification that only they have.
This particular agent is CDRS certified – to see the kind of crappy stuff that passes for certification see for yourself. Not only this, but this agent claims to be the only agent in Georgia, while I found several with this certification. She’s the only one that paid extra for their marketing package. At the end of the day, all this BS is to get more listings! Short sales are not about listings, this makes me sick to think that home owners are losing their homes because they hired an agent that cared more about the listing than actually completing the short sale.
This kind of deceptive practices could cost someone their home and I am hoping that it’s not you. Foreclosure is a big deal, it puts the responsibility about what to do with the deficiency squarely in the bank’s hands. Please interview your real estate agents, yes you need a short sale specialist, but you should care less if they are a certified short sale agent.
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We get a lot of questions about strategic default. This is where a home owner who can afford the mortgage decides to walk away. This is not a home owner that does a short sale (unless they stop making payments). This video explains it in pretty good detail. The unfortunate truth is that the banks [...]
First off, an Atlanta HARP loan (Home Affordability Refinance Plan) is simply put: Just refinancing your home. The fun part comes in is that the same criteria being used for a loan except the most obvious one, the appraisal. Since the market is understandably down your value is likely less than what your mortgage is, making a traditional refinance impossible and thus forcing you to contact an Atlanta Short Sale Specialist. A HARP loan is still just a refinance and it can keep you in your home only if you can afford the home. There are certain income requirements. It’s also only for Fannie Mae and Freddie Mac folks.