Tuesday, October 9, 2012

FREE SEMINAR - Avoid Foreclosure in Central Ohio

On Thursday, October 18th, 2012 at 6:30 p.m. I will be hosting a FREE seminar to answer questions about avoid foreclosure.
 If you are behind on payments, struggling to make ends meet, or owe more than what your home is worth you MUST check this out!!

Items Discussed:

What are my options?

What are my next steps?

What is a short sale?

Short Sale VS. Foreclosure

What does a short sale/foreclosure do to my credit?

Can I stay in my home?


The Seminar will be hosted at the Panera on East Broad Street (6887 East Broad Street Columbus, OH) at 6:30 on 10/18th.

Avoid Foreclosure Packets will be handed out for free!!

Stop out and take advantage of this opportunity!!

Spaces are limited so please RSVP to hold your seat!!!

614-581-2086 (Text or Call) or respond to this ad or Visit my website

Friday, July 6, 2012

FHFA Announces Short Sale Assistance for Military

On June 21,2012 the Federal Housing Finance Agency is announcing changes to short sale polices that will make it easier for military homeowners with Fannie Mae and Freddie Mac Mortgages to honor their financial responsibilities when they are issued ta Permanent Change of Station (PCS) order. 

This program will alleviate the tough issues that the average home owner is facing when they sell their home in this tough economy.  When a member of the armed forces receives a PCS orders it requires them to move to a new duty station under short, strict time lines.  If their homes have declined in value, they may be unable to sell the home and obtain sufficient funds to pay off the mortgage debt obligating them to continue making monthly payments after relocating to a new duty station. 

What this program will do is allow these service members with PCS orders eligible for a short sale immediately, even when they are current on their existing mortgage.  Once they receive permission stating they are eligible they will be exempt from deficiency judgments from Fannie Mae and Freddie Mac.  They will be relieved of any request or requirement for a cash contribution or promissory note so long as the property was purchased on or before June 30, 2012. 

To be eligible the person must be in the military and have a PCS order.  Their current mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac.

If you think you may be eligible for this program, please call me today!!!  I am a short sale expert in the Central Ohio area and if you qualify for this program you can hire me for FREE to assist you!!!

Molly Hay
Realtor, CDPE & SFR
Remax Town Center

Monday, May 28, 2012

Big Foreclosure News for Columbus, Ohio..NOW IS THE TIME TO BUY!!

Realty Trac posted an article on 5/24/2012 need the top 10 foreclosures in 2012. The selected location were out of the 100 largest metropolitan statistical areas based on population. The list was further narrowed according to the markets with at least 200 foreclosure-related sales transaction in January 2012. Then it was whittled down again to only include metros with foreclosure sales prices at least 20 percent below the average price of a non-foreclosure property.

Columbus, Ohio ranked #10, where the average sales price is $98,223 falling from $101,152 last year! Average discounts were 32%.

If you are a buyer or investor looking to buy a foreclosure around the Central Ohio area, look no further! I am highly experienced in short sales, fannie mae, freddie mac, Bank of America, Fifth Third, Homesteps, Homepaths, REO, and HUD properties. I have many transaction and multiple certifications in these areas! As a buyer or investor I am a FREE service to you so hire me today for results!!

Tuesday, May 22, 2012

Are you a distressed Ohio Homeowner? Are you in need of help? READ THIS NOW!!!!

Distressed Ohio Homeowners May Qualify for the Transition Assistance Program (TAP)

If you're financially distressed in Ohio and you can no longer afford your home and are pursuing a short sale or a deed in lieu of foreclosure, you may be eligible for financial help with their relocation to alternative housing.

The Ohio Housing Finance Agency (OHFA) administers the state's leading foreclosure prevention program, Restoring Stability: A Save the Dream Ohio Initiative.

The State of Ohio is making this transition assistance available to qualified homeowners who may be eligible to receive up to $5,000 to assist with their relocation. You must:
· Apply for the funds while actively engaged in a short sale or a deed in lieu but before they complete the transaction.
 · Maintain their property until their house is sold or returned to the lender as negotiated.

For those who qualify, Restoring Stability funds would be in addition to any transition assistance the homeowner may receive as a result of participation in the Home Affordable Foreclosure Alternatives (HAFA) program or any other pre-offer short sale program.

To find out more about the Restoring Stability program and how your homeowners may qualify, visit http://www.savethedream.ohio.gov/ or call me today to set up a consulation! Let me help you today!!

Wednesday, May 16, 2012

Bank of America Announces: New Short Sale Relocation Assistance Program!!!

Bank of America is excited to announce that for a limited time, they are offering enhanced relocation assistance payments in which qualified homeowners who initiate a short sale without an offer could be eligible to receive $2,500 - $30,000* in relocation assistance and owe no more on their mortgage with the sale of their property. The homeowner must participate in one of the preapproved price short sale programs, such as HAFA (Home Affordable Foreclosure Alternatives) or Bank of America's proprietary program. Specific investor participation and eligibility criteria do apply to these programs. If you are in an active short sale with Bank of America now, please ask you agent if you are eligible. Frequently Asked Questions: Q: How can I find out if I qualify for this limited time offer? A:Call a Bank of America short sale specialist at 1.866.880.1232 Monday - Friday 8 a.m. - 10 p.m.; Saturday 9 a.m. - 5:30 p.m. Eastern. Q: Do I have to do anything special? A: No. But act quickly this is a limited-time offer that you won't want to miss out on. Call an Realtor experienced in short sales with Bank of America in your area NOW!! Q: If a short sale is initiated with an offer, will it qualify for this relocation assistance? A: No. This relocation assistance is only available on preapproved price short sale programs. Short sales initiated at the time an offer is received do not qualify for the enhanced relocation assistance funds. Q: Can the relocation assistance funds be used to pay off existing liens? A: Yes, the homeowner may use funds to pay off existing liens or to help with relocation expenses. Q: Is the relocation assistance added to any other incentives, such as the HAFA or Bank of America proprietary program incentives? A: The homeowner incentive will be inclusive of the $3,000 HAFA incentive. For example, if the homeowner is eligible for a $5,000 homeowner incentive, $3,000 will be from the HAFA incentive, and $2,000 will be from the homeowner incentive. Q: Is the enhanced relocation assistance available for other programs? A: Currently, the enhanced relocation assistance is only available to short sale programs initiated without an offer. However, as we evaluate the success we may extend this incentive to other programs. Questions? Homeowners and agents may call 1.866.880.1232to speak to a Bank of America short sale specialist about this exciting limited-time preapproved price short sale program offering. If you are in the Central Ohio Area and you think this program might help you call ME today!! I am a CDPE and SFR agent able to assist you with your Bank of America short sale!!! *The relocation assistance payment is calculated based on the appraised value of the homeowner's property. The total amount will be no less than $2,500, but no more than $30,000. The payment will be delivered at the time of closing if the homeowner complies with all terms and conditions of the Short Sale Agreement, which includes but are not limited to the following: a full walk-through appraisal must be completed and the homeowner must satisfy all junior liens and provide clear title for the property (the relocation assistance payment can be used to clear those liens). The short sale must close by September 26, 2013. If the homeowner does not comply with all terms and conditions of the Short Sale Agreement, they will not receive the relocation assistance payment. The amount of any deficiency and relocation assistance will be reported to the Internal Revenue Service (IRS) on the appropriate 1099 Form or Forms. We suggest that the homeowner contact the IRS or their tax preparer to determine if they have any tax liability.

Wednesday, April 4, 2012

Major HAFA changes!! Short Sale maybe the perfect solution for you!!

Major news in the short sale and housing industry! On Friday, March 9, the Obama Administration announced updates to the Home Affordable Foreclosure Alternative (HAFA) program. Created in 2009, HAFA is a government-sponsored initiative assisting all Home Affordable Modification Program (HAMP) eligible homeowners in avoiding foreclosure through short sales and deed-in-lieus.

The HAFA updates will go into effect on June 1, 2012, and will allow more distressed homeowners to seek assistance. Most importantly, the deadline for submitting for HAFA eligibility will be extended a full year, from December 31, 2012, to December 31, 2013.

Other major changes from March's updates to the HAFA program include:
- The removal of occupancy requirements. Previously, HAFA required homeowners to have lived in the property within the last 12 months.
- $3,000 relocation incentives will be limited to properties occupied by an owner or tenant at the time of the short sale.
- Mortgage payments will be allowed to exceed 31% of the homeowner's gross monthly income. This update will allow a homeowner to stay current on her mortgage and still qualify, minimizing the overall impact to her credit.
- Secondary lienholders may receive up to a maximum of $8,500, up from $6,000 previously.
- And one of the most dramatic changes: The Credit Bureau Reporting will be Account Status Code 13 (paid or closed account/zero balance) or 65 (account paid in full/a foreclosure was started), as applicable.

With these updates, a homeowner can be current on their mortgage, qualify for HAFA, continue to make their payments, and execute a short sale with minimum impact on their credit!

Wednesday, March 14, 2012

Buy a Home with only $500.00 down!!! Hurry!! Reserve your funds today!!!

The Welcome Home Program is back!!! Last year this program ROCKED Central Ohio. The program is available now on a first come first served basis and allows up to $5,000 in grant money towards your down payment. Buyers must contribute $500.00 of there own funds towards the down payment and/or closing costs. If you think that this could be the perfect program for you, call Raub Warner with The State Bank and Trust Company today!!

Raub and I work together as a team and successfully helped 10 people last year obtain this grant money! Hurry before the funds are gone!

Raub Warner (614) 571-0626
Loan Officer

Molly Hay (614) 581-2086
Realtor - Remax Town Center

Thursday, February 23, 2012

What in the world is HAFA??