Richard May Homes

View "Avoid Foreclosure: Know Your Options" video brought to you by Making Home Affordable on YouTube Channel.
View more videos about homeowners who may be in a similar situation as you. Hear how they were able to resolve the issues they were having with their mortgage and got help to avoid foreclosure. Also watch videos of housing counselors and hear the advice they can give to homeowners just like you brought to you by Know Your Options / Fannie Mae.

Are you falling behind on your mortgage payments?
Do you have a few mortgages and negative equity?
Need to sell your home and WALK AWAY DEBT FREE?

At SAAB we can take care of that with the SHORT SALE.  My REO Team and I are effective Short Sale negotiators, because we use our established relationships with numerous banks to solve your situation. In 2008 we have helped banks to sell over 400 distressed/foreclosed properties in our service area. Let SAAB REO Team to pull you out of the difficult position you are in. Just give our SHORT SALE HOTLINE a call at             630-969-3366      to find out about your options.

Home Affordable Foreclosure Alternatives Program (HAFA) The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly. To qualify under these new guidelines:
* The property must be the home owner’s principal residence.
* The home owner must be delinquent on the mortgage or close to defaulting.
* The loan must have been made before Jan. 1, 2009, and be for less than $729,750.
* The borrowers’ total monthly mortgage payment must exceed 31 percent of their before-tax income.
Under the plan, borrowers will receive $1,500 from the government for selling homes for less than the amount of their mortgages. Mortgage-servicing companies will get $1,000 for each completed short sale.
Second-mortgage holders can receive up to $3,000 of the sales proceeds in exchange for releasing their liens. Investors who hold the first mortgage can collect up to $1,000 from the government for allowing the payments.
Borrowers who complete a short sale under the program must be "fully released" from future liability for the debt, according to the guidelines.