The U.S. government has expanded the Home Affordable Modification Program (HAMP) to include incentives for servicers offering options to eligible homeowners in Maryland in default wishing to avoid foreclosure. The new program is called Home Affordable Foreclosure Alternatives (HAFA). The HAFA program is set to begin on April 5, 2010 and all HAFA agreements must be finalized and signed by December 31, 2012.
Alternatives to Foreclosure in Maryland
Deed In Lieu of Foreclosure in Maryland
A Deed In Lieu of Foreclosure in Maryland is an option if you do not qualify for any of the other alternatives and you do not have additional liens against your property or home in Maryland. To avoid foreclosure in Maryland you may be able to deed the property directly to the lender.
Forbearance Agreement in Maryland
If you are unable to make a loan payment on your loan, you may qualify for a Forbearance Agreement. This is a formal repayment plan which if approved by the Trustee's client will stay any pending foreclosure while payments are being made.
Repayment Plan in Maryland
If your loan is past due for one, two, or three payments because of a temporary financial setback, you may qualify for a Repayment Plan. You must be able to make the monthly loan payment and pay an additional amount towards the past due amount each month until the loan is brought current.
Loan Modification Agreement in Maryland
If you are unable to pay your past due loan payments, but you can meet your monthly obligations, the Trustee's client may be able to make a Loan Modification by adding the delinquent escrow payments to your loan balance to bring your loan current. Your current mortgage interest rate must be within market guidelines. If you have any additional liens against your property, the lien holders must be willing to subordinate their interest to the new loan amount.
Short Sale in Maryland
If you wish to sell your property, but the net proceeds from the sale is not enough to pay off your loan and you cannot afford to pay the shortage; the investor may allow you to sell your property without paying the entire amount due.
What are the Qualifications for Short Sale Help in Maryland?
Are you in financial hardship of any kind? i.e. relocation, divorce, loss of income, loss of job, major repairs to your home in Maryland without money to make them, increased medical bills and or living expenses.
Behind on your mortgage, facing default or foreclosure in Harford, Baltimore, Cecil, Anne Arundel County or City?
Can’t get your home SOLD in Maryland due to your mortgage balance that is greater than the value of your house in Maryland?
You may have other situations…just contact me and lets discuss them.
If you answered YES to any of these questions then a SHORT SALE in MARYLAND may be the answer for YOU!
We will discuss your situation with you, explain your options. Please remember that a short sale is NOT always the best option for every case.
We will provide you with the required forms and documentation from your lender in order for them to process the short sale of your home.
We will answer any of your questions you may have throughout the entire process. The best part is that your Lender pays all our FEES!
We are not investors trying to purchase your home or charge you a fee up-front to negotiate on your behalf. We are here to help you the best way possible and earn an honest commission.
Give us a call or simply visit Maryland HOMES Team for more information.
Real Estate Auctioneers, Auctions in Maryland, Harford County, Cecil County, Baltimore County, City
TOP Auctioneer in Maryland, Robert B. McArtor can help you with your next Real Estate Auction Property.
Traveling Just 25 miles north of Baltimore The first thing I wanted to do was visit a lighthouse and promenade in Historic Havre de Grace, cross a covered bridge, tour a topiary garden at the wonderful Ladew Topiary Gardens in Monkton, Harford County offers a wealth of opportunities to explore. Experience Ripken Stadium, home of the Aberdeen Ironbirds, hike to a waterfall, play Maryland's best golf & more! I found that in Harford County, there is something for everyone to love and enjoy. What a great place to Buy your next home.
There are 53 playgrounds, 96 tennis courts, 144 baseball/softball diamonds, 16 fishing piers, 21 picnic areas, 8 locations for hiking trails and the Harford County Equestrian Center (home to the annual Harford County Farm Fair and equestrian events). When you are looking to Buy or Sell your next home in Harford County, Robert B. McArtor and Maryland HOMES Team is your choice! If you need to liquidate your property quickly through auction, our services are top notch. Buying a Home in Harford County is exciting, especially when the diverse landscape in Harford County offers residents and visitors a variety of activities to enjoy from boating on the Chesapeake Bay, hiking through Rocks State Park and biking the trails of Susquehanna State Park to riding thoroughbred horses through beautiful hunt country and golfing on pristine courses.
Robert B. McArtor, REALTOR, Long and Foster Real Estate,Inc.
Direct: 443-392-4833
Office: 410-879-8080 Home: 410-879-0622
Fax: 410-515-7414
www.MarylandHOMESTeam.com
www.MDAuctionSales.com
" Regardless of the weather, the crowd, the item offered.....until the Auctioneer makes his presence known, demands attention, gains respect of the bidders and conducts himself in a professional manner.....then and only then can he command the highest fair market value "
