Call: (661)310-8215
Valley Short Sale Expert
Lauren Nemeschansky
Remax of Santa Clarita short sale
Up side down?
short sale google  plus page
google places valley short sale expert
santa clarita realtors facebook page
call short sale specialist santa clarita short sale news letter

If you are interested in finding out what the value of current home is, please click below for a free online market analysis of your home's value. Nobody will come to your home, it is 100% online and confidential.

valencia realtor gives a CMA
short sale prequalication form

Find out if you qualify for a short sale and if a short sale is your best option. Please fill out this confidential no obligation form.

Information requested
*Required fields

For updated information about short sales follow my

valley short sale blog

Complementary restaurant coupon. No purchase nesessary. Coupons change monthly.

free santa clarita restarant coupon by valencia realtor

HAFA Short Sale with Bank of America

HAFA Short Sale, approval letter, Bank of America, Short Sale Realtor

HAFA short sale approval letter for both first and second loan with Bank of America

The two short sale approval letters are for a family which had both a first mortgage loan and an equity loan from Bank of America, B of A. These homeowners owed almost $700,000 on their home because they bought at the peak of the market and was underwater by approximately $350,000 due to a decline in the real estate market.

The homeowners also borrowed $77,000 on their equity line to pay for medical bills and living expenses while the mother worked less hours so she could care for their baby with medical problems.

The homeowners had been unable to pay their mortgage for over two years because of debt. The family had difficulty in paying their mortgage because of ongoing and building debts related to the baby’s medical condition and had applied and was accepted for a “Department of Justice Loan Modification” under the Homes Affordable Program. They had not been able to pay their mortgage for over two years and called me for help because they were 30 days away from a foreclosure trust deed sale and needed help in stopping the foreclosure and being allowed to remain in their home for a few more months until they had money to move and time to find a new place to live.

I helped stop the foreclosure sale and also helped the owners receive an offer of a loan modification The owners had previously applied for a loan modifications but had been rejected. I spoke with an official from the Homes Affordable Program and they applied and was accepted for a “Department of Justice Loan Modification” under the Homes Affordable Program. The owners decided to reject the loan modification but accepted a HAFA short sale instead.

The homeowner’s rejected the loan modification because it did not reduce their monthly payments to an amount that was acceptable and workable for them. They also did not accept the loan modification because the balance of their mortgage debt would increase over time rather than decrease since the monthly mortgage reduction would be “piggybacked” onto their new loan amount. The owners accepted a HAFA short sale on both their first and second loans.

The owners were able to remain in their home for approximately six more months until the short sale was completed and had time to find a place to live. The holder of their first mortgage lien forgave their entire debt of over $700,000 even though the house sold for only $351,000. The holder of the first also paid $8,500 to the holder of the second equity line so that the second equity debt of $77,000 would be completely forgiven. The owners of the home also received a $3,500 moving incentive from the bank to cover their moving costs.

If a short sale is caused by medical bill debt often times the owners can purchase a home in 18 months The average short sale seller is qualified to purchase a new home in approximately 2-3 years, however in cases where the debts are caused by documented medical bills often times the owners are allowed to purchase their next home in as little as 18 months. If you would like information about a Homes Affordable short sale, HAFA or a Homes affordable loan modification please contact me for a private consultation.

Short Sale Approval Letter

Return to Valley Short Sale Expert

Contact Information

ReMAX of Santa Clarita
Valley Short Sale Expert
25101 The Old Road #232
Santa Clarita, Ca 91381

Phone: 661-310-8215
URL of Map

Other websites:

About Lauren

REmax real estate agent
Lauren Nemeschansky is a REMAX
Real Estate agent serving
all of Santa Clarita,
Valencia, Stevenson Ranch,
Saugus, Canyon Country,
Newhall and Castaic.
San Fernando Valley and Los Angeles
HAFA short Sale Expert
CDPE certified real estate agent
M.S. Degree from California State University, Northridge
Real Estate License DRE#0172935:

Valley Short Sale Expert      Why Short Sale       What is A Short Sale?      HAFA Short Sale      About Lauren      Loan Modifications      Divorce and Real Estate        Site Map

Short Sale Realtor Serving: Santa Clarita, Valencia, Stevenson Ranch, Saugus, Canyon Country, Castaic, Newhall
Copyright © 2013 All Rights Reserved. Valley Short Sale Expert, Lauren Nemeschansky
Lauren Nemeschansky is a Licensed REMAX Real Estate Agent DRE#0172935       Google
All information provided is deemed reliable but not necessarily accurate, neither Lauren Nemeschansky nor REMAX of Valencia shall be held liable for any inaccuracies or results thereof. This website and the information provided herein is for general educational purposes and is not meant to provide solutions for debt or mortgage problems or substitute for the counsel of a professional. Distressed homeowners are recommended to seek the advice of an attorney and tax professional. All rights to the content of this website are reserved and shall not be sold, duplicated, used or published in any manner without the express and written permission of Lauren Nemeschansky