Congratulations!

[Valid RSS] This is a valid RSS feed.

Recommendations

This feed is valid, but interoperability with the widest range of feed readers could be improved by implementing the following recommendations.

Source: https://www.sdshortsaleexperts.com/feed/

  1. <?xml version="1.0" encoding="UTF-8"?><rss version="2.0"
  2. xmlns:content="http://purl.org/rss/1.0/modules/content/"
  3. xmlns:wfw="http://wellformedweb.org/CommentAPI/"
  4. xmlns:dc="http://purl.org/dc/elements/1.1/"
  5. xmlns:atom="http://www.w3.org/2005/Atom"
  6. xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
  7. xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
  8. >
  9.  
  10. <channel>
  11. <title>San Diego Short Sale Experts</title>
  12. <atom:link href="https://www.sdshortsaleexperts.com/feed/" rel="self" type="application/rss+xml" />
  13. <link>https://www.sdshortsaleexperts.com/</link>
  14. <description>Short Sales and Foreclosure Assistance</description>
  15. <lastBuildDate>Mon, 12 Jun 2023 21:45:53 +0000</lastBuildDate>
  16. <language>en-US</language>
  17. <sy:updatePeriod>
  18. hourly </sy:updatePeriod>
  19. <sy:updateFrequency>
  20. 1 </sy:updateFrequency>
  21. <generator>https://wordpress.org/?v=6.2.5</generator>
  22.  
  23. <image>
  24. <url>https://www.sdshortsaleexperts.com/wp-content/uploads/2020/05/cropped-android-chrome-512x512-1-32x32.png</url>
  25. <title>San Diego Short Sale Experts</title>
  26. <link>https://www.sdshortsaleexperts.com/</link>
  27. <width>32</width>
  28. <height>32</height>
  29. </image>
  30. <item>
  31. <title>Coronado Shores Condos for Sale</title>
  32. <link>https://www.sdshortsaleexperts.com/blog/coronado-shores-condos-for-sale/</link>
  34. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  35. <pubDate>Thu, 08 Jun 2023 21:44:54 +0000</pubDate>
  36. <category><![CDATA[Uncategorized]]></category>
  37. <category><![CDATA[condos at coronado shores]]></category>
  38. <category><![CDATA[condos for sale]]></category>
  39. <category><![CDATA[coronado]]></category>
  40. <category><![CDATA[coronado beach]]></category>
  41. <category><![CDATA[coronado shores]]></category>
  42. <category><![CDATA[coronado shores condos]]></category>
  43. <category><![CDATA[coronado shores condos for sale]]></category>
  44. <guid isPermaLink="false">https://www.sdshortsaleexperts.com/?p=1161</guid>
  45.  
  46. <description><![CDATA[<p>Discovering the Coronado Shores Condo Community: A Coastal Paradise Nestled in the vibrant city of Coronado, California, the Coronado Shores Condo Community stands as a beacon of coastal luxury. Comprising ten distinct high-rise towers, each offering unique charm and stunning views, Coronado Shores is a true testament to refined seaside living. Coronado Shores History Construction of the Coronado Shores Condos Community began in the ...</p>
  47. <p>The post <a href="https://www.sdshortsaleexperts.com/blog/coronado-shores-condos-for-sale/">Coronado Shores Condos for Sale</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  48. ]]></description>
  49. <content:encoded><![CDATA[<h2><strong>Discovering the</strong> Coronado<strong> Shores Condo Community: A Coastal Paradise</strong></h2>
  50. <p>Nestled in the vibrant city of Coronado, California, the Coronado Shores Condo Community stands as a beacon of coastal luxury. Comprising ten distinct high-rise towers, each offering unique charm and stunning views, Coronado Shores is a true testament to refined seaside living.</p>
  51. <h3><a href="https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-shores-condos-3.jpg"><img decoding="async" loading="lazy" class="alignnone wp-image-1170 size-full" src="https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-shores-condos-3.jpg" alt="coronado shores condos for sale" width="1080" height="544" srcset="https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-shores-condos-3.jpg 1080w, https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-shores-condos-3-300x151.jpg 300w, https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-shores-condos-3-1024x516.jpg 1024w, https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-shores-condos-3-768x387.jpg 768w" sizes="(max-width: 1080px) 100vw, 1080px" /></a></h3>
  52. <h3><strong>Coronado Shores History</strong></h3>
  53. <p>Construction of the <a href="https://www.sdshortsaleexperts.com/blog/coronado-shores-condos-for-sale/">Coronado Shores Condos</a> Community began in the late 1960s and was completed in the mid-1970s. Its architecture and planning were designed to embrace the breathtaking ocean views, making the most of the location&#8217;s natural beauty. Over the years, it has maintained its reputation as one of the premier condo communities in Southern California.</p>
  54. <h3><strong>Lavish Amenities at Coronado Shores</strong></h3>
  55. <p>Coronado Shores offers a multitude of amenities that cater to a lifestyle of comfort and luxury. The community boasts eight tennis courts, four swimming pools, a fitness center, and two clubhouses available for private events. Residents can enjoy direct access to the stunning Coronado Beach, voted one of the best beaches in the United States.</p>
  56. <p>Each of the ten towers &#8211; La Playa, La Sierra, Cabrillo, La Princesa, Las Palmas, Las Flores, La Perla, El Encanto, El Mirador, and El Camino, has its unique personality. They offer an array of views, ranging from the beautiful San Diego skyline, the vibrant Coronado Bridge, the Pacific Ocean&#8217;s vast expanse, and the tranquil bay.</p>
  57. <h3><strong>Coronado Shores Condos HOA</strong></h3>
  58. <p>The Homeowner’s Association at Coronado Shores plays an integral role in maintaining the community&#8217;s high living standards. It ensures the upkeep of common areas, manages amenities, and enforces rules and regulations to preserve the community&#8217;s aesthetic and value. The HOA fee, which varies based on the tower and unit size, covers a range of services including cable TV, common area maintenance, exterior building maintenance, hot water, insurance, trash pickup, and water.</p>
  59. <p>The Coronado Shores condominiums community consists of ten, 15-story 140+ units residential towers built in the 1960s/70s. Each tower is incorporated and is governed by its own condo association.<br /><br />The common areas, amenities, and recreational facilities are managed and operated/maintained by the Landscape &amp; Recreation Committee acting as an unincorporated master association. Often times referred to as &#8220;L&amp;R&#8221;.  You can view the master association information here: <a title="Coronado Shores HOA" href="https://coronadoshores.org/" target="_blank" rel="noopener">https://coronadoshores.org</a></p>
  60. <h3><strong>A Vibrant Community in Coronado</strong></h3>
  61. <p>The Coronado Shores Condo Community fosters a strong sense of community among its residents. Various social clubs and activities are available, including tennis clubs, art guilds, and social events, encouraging residents to engage with their neighbors.</p>
  62. <h3><strong>Incredible Location on Coronado Beach</strong></h3>
  63. <p>Coronado Shores&#8217; location is another of its many assets. Residents are just a short walk or drive away from the delightful Coronado Village, where they can enjoy a variety of restaurants, boutiques, galleries, and theaters. Also, the community is adjacent to the renowned Hotel Del Coronado and a mere 10-minute drive from downtown San Diego, providing access to a broader range of amenities and attractions.</p>
  64. <h3><strong>Final Thoughts</strong></h3>
  65. <p>Coronado Shores Condo Community is more than just a place to live &#8211; it&#8217;s a lifestyle. With its history, luxurious amenities, vibrant community, and unbeatable location, it offers an unparalleled living experience for those seeking seaside elegance. Whether you&#8217;re basking in the breathtaking views from your tower, strolling along the pristine Coronado Beach, or exploring the nearby Coronado Village, life at Coronado Shores is nothing short of extraordinary.</p>
  66. <p>&nbsp;</p>
  67. <h3>The Towers of Coronado Shores: An In-Depth Guide</h3>
  68. <p>The prestigious condo community of Coronado Shores, positioned in the beautiful city of Coronado, California, is an architectural marvel. This one-of-a-kind community is home to ten magnificent high-rise towers, each offering its unique charm and exclusive features. As you wander through the verdant landscapes of Coronado Shores, each tower extends a warm welcome, showcasing its unique spirit. Let&#8217;s delve deeper into the individual aspects of these ten towers:</p>
  69. <ol>
  70. <li><strong>La Playa Tower</strong> As the Spanish name &#8216;La Playa&#8217; suggests, &#8216;the beach,&#8217; this tower presents magnificent ocean views that mesmerize both residents and visitors alike. It&#8217;s ideally positioned to offer breathtaking panoramas of the Pacific Ocean and Coronado Beach, making it a favorite among those who appreciate coastal beauty.</li>
  71. <li><strong>La Sierra Tower</strong> La Sierra, translating to &#8216;the mountain,&#8217; provides an exclusive blend of city and ocean views for its residents. It&#8217;s distinguished by its opulent units and premium finishes. Its proximity to the main streets of Coronado grants residents effortless access to local conveniences and the vibrant life of downtown Coronado.</li>
  72. <li><strong>Cabrillo Tower</strong> Honoring the renowned explorer Juan Rodriguez Cabrillo in its name, this tower stands out for its spectacular views and lively community atmosphere. Cabrillo is a haven for those who appreciate a balance of serenity and activity, with immediate access to the community&#8217;s recreational facilities.</li>
  73. <li><strong>La Princesa Tower</strong> La Princesa, or &#8216;the princess,&#8217; embodies its regal name. It delivers some of the most striking views in the community, making it the perfect fit for those seeking an opulent lifestyle. The tower&#8217;s elegance and allure harmonize perfectly with its top-tier amenities and aesthetically pleasing interiors.</li>
  74. <li><strong>Las Palmas Tower</strong> Las Palmas, or &#8216;the palms,&#8217; serves as a tropical sanctuary amid the Coronado Shores. The tower affords stunning views of the San Diego Bay and Coronado Bridge. The lush greenery encircling the building instills a sense of tranquility, offering a serene retreat amidst the lively city.</li>
  75. <li><strong>Las Flores Tower</strong> In Spanish, Las Flores means &#8216;the flowers,&#8217; and this tower is celebrated for its flourishing, garden-like surroundings. Its strategic location yields distinctive, panoramic views of the ocean and city skyline alike. Residents often praise the sense of camaraderie within the tower, fostering a hospitable and welcoming atmosphere.</li>
  76. <li><strong>La Perla Tower</strong> La Perla, or &#8216;the pearl,&#8217; is a cherished asset within Coronado Shores. Its above-average ceiling heights and generous floor plans make it an attractive choice for those who enjoy a hint of luxury. The grandiose views of the Pacific Ocean render La Perla a shining jewel in the community.</li>
  77. <li><strong>El Encanto Tower</strong> El Encanto, translating to &#8216;the charm,&#8217; is admired for its cozy ambience and communal spirit. Its convenient location enables residents to quickly access the Coronado Shores Clubhouse and fitness center. Its charm and comfort make it a well-liked choice among the community&#8217;s residents.</li>
  78. <li><strong>El Mirador Tower</strong> El Mirador, or &#8216;the viewpoint,&#8217; lives up to its name with its awe-inspiring views. The tower towers high, providing magnificent vistas of the ocean, bay, and city skyline. El Mirador&#8217;s residents enjoy some of the best panoramas in all of Coronado Shores.</li>
  79. <li><strong>El Camino Tower</strong> El Camino, or &#8216;the path,&#8217; is noted for its classic architectural design and sweeping views. Positioned near the community&#8217;s entrance, it offers residents easy ingress.</li>
  80. </ol>
  81. <p>&nbsp;</p>
  82.  
  83. <figure class="wp-block-image size-large"><a href="https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-Shores-Condos-Map-2R.jpg"><img decoding="async" loading="lazy" width="1024" height="577" class="wp-image-1166" src="https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-Shores-Condos-Map-2R-1024x577.jpg" alt="coronado shores building map" srcset="https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-Shores-Condos-Map-2R-1024x577.jpg 1024w, https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-Shores-Condos-Map-2R-300x169.jpg 300w, https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-Shores-Condos-Map-2R-768x433.jpg 768w, https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-Shores-Condos-Map-2R-255x143.jpg 255w, https://www.sdshortsaleexperts.com/wp-content/uploads/2023/06/Coronado-Shores-Condos-Map-2R.jpg 1440w" sizes="(max-width: 1024px) 100vw, 1024px" /></a>
  84. <figcaption>Coronado Shores Condos</figcaption>
  85. </figure>
  86.  
  87.  
  88.  
  89. <p>&nbsp;</p>
  90.  
  91.  
  92.  
  93. <h2 class="wp-block-heading" id="h-coronado-shores-condos-for-sale">Coronado Shores Condos for Sale</h2>
  94.  
  95.  
  96.  
  97. <p><iframe id="chimeWidget" style="width: 100%; height: 100%;" src="https://www.premierhomescoronado.com/api-site/widget/26109" frameborder="0"></iframe> <script>const chimeWidget = document.getElementById('chimeWidget');window.addEventListener('message', function (e) {try {let data = JSON.parse(e.data);if(data.from === 'chimeSite' && data.event === 'updateBodyRect'){chimeWidget.style.height = data.data.height + 'px'}} catch (error) {console.log(error)}})</script></p>
  98.  
  99.  
  100.  
  101. <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
  102. <div class="wp-block-embed__wrapper">https://youtu.be/Er3S-8TN8Zg</div>
  103. </figure>
  104. <p>The post <a href="https://www.sdshortsaleexperts.com/blog/coronado-shores-condos-for-sale/">Coronado Shores Condos for Sale</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  105. ]]></content:encoded>
  109. </item>
  110. <item>
  111. <title>Cash Offer</title>
  112. <link>https://www.sdshortsaleexperts.com/blog/cash-offer/</link>
  114. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  115. <pubDate>Sun, 04 Sep 2022 22:23:55 +0000</pubDate>
  116. <category><![CDATA[Uncategorized]]></category>
  117. <guid isPermaLink="false">https://www.sdshortsaleexperts.com/?p=1112</guid>
  118.  
  119. <description><![CDATA[<p>Sell Your Home Fast With A Cash Offer Looking to sell your home quickly and without any hassle? We are here to help! We work to streamline the entire process, so you can avoid commissions or fees and get your sale closed in a timely manner. We&#8217;ve helped hundreds of people sell their homes quickly and accurately, and we can do the same for ...</p>
  120. <p>The post <a href="https://www.sdshortsaleexperts.com/blog/cash-offer/">Cash Offer</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  121. ]]></description>
  122. <content:encoded><![CDATA[<h1>Sell Your Home Fast With A Cash Offer</h1>
  123. <p>Looking to sell your home quickly and without any hassle? We are here to help! We work to streamline the entire process, so you can avoid commissions or fees and get your sale closed in a timely manner. We&#8217;ve helped hundreds of people sell their homes quickly and accurately, and we can do the same for you. Contact us today for a free, no-obligation cash offer!</p>
  124. <p>Selling your home to a cash buyer like us is one of the quickest and most efficient ways to get rid of your property. We handle all of the paperwork and logistics so you don&#8217;t have to worry about a thing &#8211; and in most cases, we can even close the deal within days. Best of all, because we&#8217;re paying entirely in cash, you won&#8217;t have to worry about any hidden fees or closing costs. So if you&#8217;re asking yourself &#8216;should I sell my house fast for cash?&#8217;, the answer is almost always yes!</p>
  125. <p>&nbsp;</p>
  126. <h2>Cash Offer for Your Home!</h2>
  127. <ul>
  128. <li>We never charge fees, commissions, or closing costs. A Real Estate Agent will often ask you to pay as much as 6% of your total sale, in addition to extra costs for title searches and credit checks. All of these expenses can take away from your profits.</li>
  129. <li>We understand that you are not interested in appraisals, showings, or open houses. We respect your privacy and will work to sell your home quickly and discreetly.</li>
  130. <li>We&#8217;re here to take the hassle out of selling your home. We&#8217;ll make you a great offer quickly, so you can focus on your future. We&#8217;re dedicated to giving our customers the best possible deal. We&#8217;ll take care of all the repairs and renovations for you. So you can focus on your future plans stress-free.</li>
  131. <li>As a homeowner, you should never feel tied down by a listing agreement. Our real estate agency believes in giving you the freedom to explore all your options when it comes to selling your home. We want what&#8217;s best for you, which is why we don&#8217;t tie you into a contract. This way, you can always feel confident that you&#8217;re making the best decision for yourself and your family.</li>
  132. </ul>
  133. <p>&nbsp;</p>
  134. <h3>Should I sell my house to a cash buyer?</h3>
  135. <p>Cash buyers are a relatively new phenomenon in the real estate industry, and it&#8217;s understandable if you&#8217;re skeptical. After all, getting cash for your home seems too good to be true. But thanks to advances in technology and data-based algorithms, home value is now calculated digitally. So selling your house for cash is a legitimate option.</p>
  136. <p>The post <a href="https://www.sdshortsaleexperts.com/blog/cash-offer/">Cash Offer</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  137. ]]></content:encoded>
  141. </item>
  142. <item>
  143. <title>What Happens if Loan Modification Was Denied</title>
  144. <link>https://www.sdshortsaleexperts.com/loan-modification/loan-modification-faqs/loan-modification-denied/</link>
  145. <comments>https://www.sdshortsaleexperts.com/loan-modification/loan-modification-faqs/loan-modification-denied/#disqus_thread</comments>
  147. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  148. <pubDate>Wed, 03 Aug 2022 10:37:04 +0000</pubDate>
  149. <category><![CDATA[Loan Modification FAQs]]></category>
  150. <category><![CDATA[appeal loan modification]]></category>
  151. <category><![CDATA[article]]></category>
  152. <category><![CDATA[denied]]></category>
  153. <category><![CDATA[loan modification]]></category>
  154. <category><![CDATA[Short Sale]]></category>
  155. <category><![CDATA[stop foreclosure]]></category>
  156. <guid isPermaLink="false">https://sdsse.ridgebox.com/?p=128</guid>
  157.  
  158. <description><![CDATA[<p>What Happens if Loan Modification Was Denied? Loan modifications are adjustments to payments that allow borrowers who have experienced hardship to remain in their homes and continue making payments, even if the payments are not as high as the original agreement. Loan modifications are given out by lenders as a way of avoiding the costly, messy foreclosure process. They also help borrowers remain in ...</p>
  159. <p>The post <a href="https://www.sdshortsaleexperts.com/loan-modification/loan-modification-faqs/loan-modification-denied/">What Happens if Loan Modification Was Denied</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  160. ]]></description>
  161. <content:encoded><![CDATA[
  162. <h1 class="wp-block-heading" id="h-what-happens-if-loan-modification-was-denied">What Happens if Loan Modification Was Denied?</h1>
  163.  
  164.  
  165.  
  166. <p>Loan modifications are adjustments to payments that allow borrowers who have experienced hardship to remain in their homes and continue making payments, even if the payments are not as high as the original agreement. Loan modifications are given out by lenders as a way of avoiding the costly, messy foreclosure process. They also help borrowers remain in homes.</p>
  167.  
  168.  
  169.  
  170. <h2 class="wp-block-heading" id="h-why-do-lenders-give-out-loan-modifications">Why do Lenders Give Out Loan Modifications?</h2>
  171.  
  172.  
  173.  
  174. <p>Before understanding why your modification was denied, let’s review why lenders would approve a loan modification in the first place. Loan modifications allow lenders to still collect on the mortgage, which they really want to do. The foreclosure process is complex, long, and time consuming. And lenders don’t always recover the amount of money in the timeline that they expected to recover it. So lenders really do want to avoid foreclosure in most cases.</p>
  175.  
  176.  
  177.  
  178. <p>If a borrower is unable to make good on the original terms of the mortgage, the lender then has the opportunity to modify the loan to help the borrower make good. However, loan modifications are a way for the lender to collect on the original loan amount and avoid foreclosure. If the borrower has lost all their income, or seems unlikely to make payments at all, then the lender will probably not approve them for a modification. There’s no reason to approve a modification if you’re going to have to run through the foreclosure process later on anyway.</p>
  179.  
  180.  
  181.  
  182. <h2 class="wp-block-heading" id="h-reasons-why-a-modification-could-be-denied">Reasons Why A Modification Could be Denied</h2>
  183.  
  184.  
  185.  
  186. <p>In California, a law called the &#8220;<a href="https://oag.ca.gov/hbor">Homeowner Bill of Rights</a>&#8221; (HBOR) generally gives borrowers the right to appeal a modification denial.</p>
  187.  
  188.  
  189.  
  190. <p>Under <a href="https://oag.ca.gov/hbor">HBOR</a>, in most cases, if the borrower&#8217;s application for a first lien loan modification is denied, the borrower gets at least 30 days from the date of the written denial to appeal and to provide evidence that the mortgage servicer&#8217;s determination was in error. Though, some smaller loan servicers don&#8217;t have to give you a chance to appeal the decision. (Cal.Civ.Code § 2923.6).</p>
  191.  
  192.  
  193.  
  194. <p>So, you should submit your appeal to your servicer within 30 days from the date given in the denial letter. In your appeal, you&#8217;ll need to provide evidence that the servicer made a mistake when denying your application.</p>
  195.  
  196.  
  197.  
  198. <h3 class="wp-block-heading" id="Does-Not-Meet-Loan-to-Value-Requirements">Does Not Meet Loan to Value Requirements</h3>
  199.  
  200.  
  201.  
  202. <p>Modifications could be denied for income that is not sufficient, a poor loan to value ratio, or missing information on the modification.</p>
  203.  
  204.  
  205.  
  206. <h3 class="wp-block-heading" id="h-incomplete-applications">Incomplete Applications</h3>
  207.  
  208.  
  209.  
  210. <p>Shockingly, the most common reason that loan modification requests are denied is because the application was not actually complete. You may have left out a single signature or a bank statement, which can set you back months. It’s vital that you fill out everything right the first time!</p>
  211.  
  212.  
  213.  
  214. <h3 class="wp-block-heading" id="h-failure-to-meet-income-standards">Failure to Meet Income Standards</h3>
  215.  
  216.  
  217.  
  218. <p>Even if you experience a real and complete hardship, you won’t get a loan modification if you can’t meet certain income standards. If you lose your job completely and it doesn’t look like you’ll find another for the same income amount, you could be denied for modification. If you have to get work that pays significantly less, you may not even meet modified payment amounts.</p>
  219.  
  220.  
  221.  
  222. <h3 class="wp-block-heading" id="h-failure-to-meet-hardship-standards">Failure to Meet Hardship Standards</h3>
  223.  
  224.  
  225.  
  226. <p>If your lender thinks that you can meet your current monthly payment, then you’re not going to be able to get a loan modification. You must experience a real hardship that prevents you from making your old payments on time. Additionally, you must show that you’ve defaulted on the loan (or are about to default on the loan) for a sufficiently good reason. Job losses and medical emergencies count as hardship.</p>
  227.  
  228.  
  229.  
  230. <h2 class="wp-block-heading" id="Information-Your-Servicer-Must-Give-You-in-the-Denial-Notice">Information Your Servicer Must Give You in the Denial Notice</h2>
  231.  
  232.  
  233.  
  234. <p>Requirements under the Home Owner Bill of Rights (HBOR) state that if your servicer denies your modification application, the servicer must:</p>
  235.  
  236.  
  237.  
  238. <ul>
  239. <li>Explain your right to appeal, including giving you the amount of time you have to file an appeal</li>
  240. <li>Give you the specific reason for the denial. (This only applies if the investor (the owner of your loan) is the one that denied your request.)</li>
  241. <li>Provide you with the monthly gross income and property value that the servicer used to calculate the net present value (NPV). (This only applies if they denied your application because of an NPV calculation.)</li>
  242. <li>In some cases, they must show that you were previously offered a first lien loan modification and failed to successfully make the payments under the agreed terms of the modified loan.</li>
  243. <li>They must also describe any <a href="https://www.sdshortsaleexperts.com/foreclosure/ways-to-stop-foreclosure-immediately/">foreclosure alternatives</a> that are still available to you (<a href="https://www.sdshortsaleexperts.com/short-sale/learn-about-short-sales/what-is-a-short-sale/">short sale</a>, deed in lieu, etc), and the steps you must take to be considered for those options. If you have already been approved for another foreclosure prevention alternative, they must provide you with the information necessary to complete the alternative <a href="https://www.sdshortsaleexperts.com/foreclosure/ways-to-stop-foreclosure-immediately/">foreclosure prevention option</a>.</li>
  244. </ul>
  245.  
  246.  
  247.  
  248. <h2 class="wp-block-heading" id="h-appeal-if-loan-modification-was-denied">Appeal If Loan Modification Was Denied</h2>
  249.  
  250.  
  251.  
  252. <p><a href="https://www.consumerfinance.gov/rules-policy/regulations/1024/41/">Federal law</a> generally requires servicers to give homeowners 14 days to appeal a loan modification denial. In most cases, this appeal right kicks in if the servicer receives your loan application 90 days or more before the foreclosure sale date. If a complete loss mitigation application is received less than 90 days before a foreclosure sale but more than 37 days before a foreclosure sale, the servicer must give you at least seven days to accept or reject a loss mitigation offer.</p>
  253.  
  254.  
  255.  
  256. <h2 class="wp-block-heading" id="Instead-of-reapplying,-you-can-always-appeal-the-denial-that-you-were-given.-">Instead of reapplying, you can always appeal the denial that you were given.</h2>
  257.  
  258.  
  259.  
  260. <p>Lenders usually have appeal procedures that you can attempt in writing. You should appeal instead of reapplying if you think that (1) you can really improve your situation to apply for loan modification and (2) something about your application wasn’t treated fairly. Usually, appeals don’t work, but it’s definitely worth a shot.</p>
  261.  
  262.  
  263.  
  264. <p>Even if the appeal doesn’t go through, you can always reapply for a loan modification after making some material changes to your financial situation.</p>
  265.  
  266.  
  267.  
  268. <h3 class="wp-block-heading" id="h-reapply-for-the-loan-modification">Reapply for the Loan Modification</h3>
  269.  
  270.  
  271.  
  272. <p>Your letter from your lender should explain why your modification was denied. Use this letter as an encouragement to reapply for the modification, but fix the reason you were denied. Once you’ve fixed the reason you were explicitly denied for, try to set up a meeting at the office of the lender. You can explain to them the problems you’re having with the loan, and the steps you took to get your finances into better shape for the modification.</p>
  273.  
  274.  
  275.  
  276. <p>When you reapply and meet with your lender, ask if there are any other kinds of modifications that you can get.</p>
  277.  
  278.  
  279.  
  280. <h3 class="wp-block-heading" id="h-find-a-cosigner-for-the-modification">Find a Cosigner for the Modification</h3>
  281.  
  282.  
  283.  
  284. <p>If you have any way of getting a cosigner for the loan modification you’re seeking, that can drastically help your ability to make payments. Cosigners are on the hook for any payments that you’ve missed, and this validation can help you get modifications that you’d never be able to get under your own power.</p>
  285.  
  286.  
  287.  
  288. <h2 class="wp-block-heading" id="h-trial-modification-payments">Trial Modification Payments</h2>
  289.  
  290.  
  291.  
  292. <p>Many lenders will approve a temporary modification as a trial period to see whether or not you’ll be able to make the modification payments on your loan. If you miss one of the trial modification payments, the loan modification will not be permanent and it will be back to the regular loan. But you might be able to convince a lender to redo the trial modification period.</p>
  293.  
  294.  
  295.  
  296. <h2 class="wp-block-heading" id="Options-If-A-Loan-Modification-Was-Denied">Options If A Loan Modification Was Denied</h2>
  297.  
  298.  
  299.  
  300. <p>If you have decided not to appeal the loan modification denial, you still have other options. You can:</p>
  301.  
  302.  
  303.  
  304. <ul>
  305. <li><span style="color: initial;">File bankruptcy</span></li>
  306. <li>If you have equity in your home, sell your home, and receive funds from an equity sale.</li>
  307. <li>If your home is underwater, complete a <a href="https://www.sdshortsaleexperts.com/short-sale/learn-about-short-sales/what-is-a-short-sale/">short sale</a>.</li>
  308. <li>Complete a Deed in Lieu of Foreclosure. This process deeds the home back to the bank in exchange for avoiding foreclosure.</li>
  309. <li>Make up (Reinstate) the number of payments you missed and resume making your regular payments prior to the foreclosure sale date.</li>
  310. <li>Use state-specific protections available to you based on your foreclosure timeline to buy as much time as possible and then sell the home right before foreclosure.</li>
  311. <li>Do nothing and let the home go to foreclosure. (This is the worst thing you can do.)</li>
  312. </ul>
  313.  
  314.  
  315.  
  316. <h2 class="wp-block-heading" id="Loan-Modification-Denied-Frequently-Asked-Questions-FAQ-">Loan Modification Denied Frequently Asked Questions FAQ </h2>
  317.  
  318.  
  319.  
  320. <h3 class="wp-block-heading" id="Why-was-my-loan-modification-application-denied">Why was my loan modification application denied?</h3>
  321.  
  322.  
  323.  
  324. <p>There are many reasons why a loan modification application may be denied. Some common reasons include:</p>
  325.  
  326.  
  327.  
  328. <p>-The borrower failed to provide all of the required documentation.<br />-The borrower&#8217;s income was not sufficient to support the modified payment amount.<br />-The borrower had already missed too many payments before applying for the modification.<br />-The property value had declined, making it worth less than the outstanding loan balance.</p>
  329.  
  330.  
  331.  
  332. <p>If you have been denied for a loan modification, it is important to find out why so that you can take steps to improve your chances of being approved in the future.</p>
  333.  
  334.  
  335.  
  336. <h3 class="wp-block-heading" id="What-are-the-requirements-for-a-successful-loan-modification">What are the requirements for a successful loan modification?</h3>
  337.  
  338.  
  339.  
  340. <h3 class="wp-block-heading" id="How-can-I-appeal-the-decision-to-deny-my-loan-modification">How can I appeal the decision to deny my loan modification?</h3>
  341.  
  342.  
  343.  
  344. <h3 class="wp-block-heading" id="What-are-the-consequences-of-not-being-able-to-modify-my-loan">What are the consequences of not being able to modify my loan?</h3>
  345.  
  346.  
  347.  
  348. <h3 class="wp-block-heading" id="Are-there-any-other-options-available-to-me-if-my-loan-modification-is-denied">Are there any other options available to me if my loan modification is denied?</h3>
  349.  
  350.  
  351.  
  352. <h2 class="wp-block-heading" id="h-loan-modification-specialists">Loan Modification Specialists</h2>
  353.  
  354.  
  355.  
  356. <p>The first step is to consult a loan modification specialist. We are always happy to answer all of your questions and there is never any obligation to have a conversation with us. </p>
  357.  
  358.  
  359.  
  360. <p>Our team does not charge any fees and we offer discrete consultations over the phone, at your office, or in your home.  We also have excellent recommendations for an attorney, tax professionals, and/or any other referral you may need.</p>
  361.  
  362.  
  363.  
  364. <p>Contact us today at <strong>619-777-6716</strong> or submit your information on our <a href="https://www.sdshortsaleexperts.com/contact-us/"><strong>contact form</strong></a> and we will be in touch to discuss your options and determine how we can help you.</p>
  365. <p>The post <a href="https://www.sdshortsaleexperts.com/loan-modification/loan-modification-faqs/loan-modification-denied/">What Happens if Loan Modification Was Denied</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  366. ]]></content:encoded>
  368. <wfw:commentRss>https://www.sdshortsaleexperts.com/loan-modification/loan-modification-faqs/loan-modification-denied/feed/</wfw:commentRss>
  369. <slash:comments>0</slash:comments>
  372. </item>
  373. <item>
  374. <title>Deed in Lieu of Foreclosure</title>
  375. <link>https://www.sdshortsaleexperts.com/foreclosure/foreclosure-faqs/deed-in-lieu-of-foreclosure/</link>
  377. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  378. <pubDate>Sun, 31 Jul 2022 19:16:09 +0000</pubDate>
  379. <category><![CDATA[Foreclosure FAQs]]></category>
  380. <category><![CDATA[Deed in Lieu of Foreclosure]]></category>
  381. <category><![CDATA[foreclosure]]></category>
  382. <category><![CDATA[stop foreclosure]]></category>
  383. <guid isPermaLink="false">https://www.sdshortsaleexperts.com/?p=964</guid>
  384.  
  385. <description><![CDATA[<p>Deed in Lieu of Foreclosure A deed in lieu of foreclosure is a potential option taken by a mortgagor, or homeowner, usually as a means of avoiding foreclosure. In this process, the mortgagor deeds the collateral property, which is typically the home, back to the lender serving as the mortgagee in exchange for the release of all obligations under the mortgage. Both sides must ...</p>
  386. <p>The post <a href="https://www.sdshortsaleexperts.com/foreclosure/foreclosure-faqs/deed-in-lieu-of-foreclosure/">Deed in Lieu of Foreclosure</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  387. ]]></description>
  388. <content:encoded><![CDATA[
  389. <div class="wp-block-yoast-seo-table-of-contents yoast-table-of-contents"><h2>Table of contents</h2><ul><li><a href="#h-deed-in-lieu-of-foreclosure" data-level="1">Deed in Lieu of Foreclosure</a><ul><li><a href="#h-what-is-a-deed-in-lieu-of-foreclosure" data-level="2">What is a deed in lieu of foreclosure?</a></li><li><a href="#How-does-a-deed-in-lieu-of-foreclosure-work" data-level="2">How does a deed in lieu of foreclosure work?</a></li><li><a href="#h-what-are-the-benefits-of-a-deed-in-lieu-of-foreclosure" data-level="2">What are the benefits of a deed in lieu of foreclosure?</a></li><li><a href="#h-what-are-the-drawbacks-of-a-deed-in-lieu-of-foreclosure" data-level="2">What are the drawbacks of a deed in lieu of foreclosure?</a></li><li><a href="#h-how-can-i-get-a-deed-in-lieu-of-foreclosure" data-level="2">How can I get a deed in lieu of foreclosure?</a></li><li><a href="#h-what-are-the-risks-of-a-deed-in-lieu-of-foreclosure" data-level="2">What are the risks of a deed in lieu of foreclosure?</a></li><li><a href="#h-does-a-deed-in-lieu-of-foreclosure-hurt-your-credit" data-level="2">Does a deed in lieu of foreclosure hurt your credit?</a></li><li><a href="#Will-I-Owe-Money-After-A-Deed-In-Lieu-Of-Foreclosure" data-level="2">Will I Owe Money After A Deed In Lieu Of Foreclosure?</a></li><li><a href="#h-how-can-i-get-more-info-about-a-deed-in-lieu-of-foreclosure" data-level="2">How can I get more info about a deed in lieu of foreclosure?</a></li></ul></li></ul></div>
  390.  
  391.  
  392.  
  393. <h1 class="wp-block-heading" id="h-deed-in-lieu-of-foreclosure"><span style="color: #111111; font-family: Cabin-semi-bold, sans-serif; font-size: 3rem; letter-spacing: 0.05px;">Deed in Lieu of Foreclosure</span></h1>
  394.  
  395.  
  396.  
  397. <p>A deed in lieu of foreclosure is a potential option taken by a mortgagor, or homeowner, usually as a means of avoiding foreclosure.</p>
  398.  
  399.  
  400.  
  401. <p>In this process, the mortgagor deeds the collateral property, which is typically the home, back to the lender serving as the mortgagee in exchange for the release of all obligations under the mortgage. Both sides must enter into the agreement voluntarily and in good faith. The document is signed by the homeowner, notarized by a notary public, and recorded in public records.</p>
  402.  
  403.  
  404.  
  405. <p>This is usually the last resort for property owners who have tried other options (like a loan modification or short sale) and accepted that they will lose their home.</p>
  406.  
  407.  
  408.  
  409. <p>Although the homeowner will have to move out and give up the property, in most cases they will be relieved of the burden of the loan. (See &#8220;<a href="#Will-I-Owe-Money-After-A-Deed-In-Lieu-Of-Foreclosure">Will I Owe Money After A Deed In Lieu Of Foreclosure</a>&#8221; below.) This process is usually done with less public visibility than a foreclosure, so it may allow the property owner to minimize their embarrassment and keep their situation more private.</p>
  410.  
  411.  
  412.  
  413. <h2 class="wp-block-heading" id="h-what-is-a-deed-in-lieu-of-foreclosure">What is a deed in lieu of foreclosure?</h2>
  414.  
  415.  
  416.  
  417. <p>A deed in lieu of foreclosure is a legal document that transfers ownership of a property from the borrower to the lender. This type of arrangement is typically used as an alternative to foreclosure, and it can provide certain benefits for both the borrower and the lender. It is typically a last resort after a homeowner has been denied for a short sale and/or loan modification.</p>
  418.  
  419.  
  420.  
  421. <p>For the borrower, it can help avoid the negative consequences that come with a foreclosure, such as damage to their credit score. And for the lender, it can help them avoid the time and expense of going through the foreclosure process.</p>
  422.  
  423.  
  424.  
  425. <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
  426. <div class="video-container"><iframe loading="lazy" title="Deed in Lieu of Foreclosure - What is a Deed in Lieu of Foreclosure and How Does it Work?" width="1200" height="675" src="https://www.youtube.com/embed/vHLno7-l5Xk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></div>
  427. </div></figure>
  428.  
  429.  
  430.  
  431. <h2 class="wp-block-heading" id="How-does-a-deed-in-lieu-of-foreclosure-work">How does a deed in lieu of foreclosure work?</h2>
  432.  
  433.  
  434.  
  435. <p>In this process, the mortgagor deeds the collateral property, which is typically the home, back to the lender serving as the mortgagee in exchange for the release of all obligations under the mortgage. Both sides must enter into the agreement voluntarily and in good faith. The document is signed by the homeowner, notarized by a notary public, and recorded in public records.</p>
  436.  
  437.  
  438.  
  439. <h2 class="wp-block-heading" id="h-what-are-the-benefits-of-a-deed-in-lieu-of-foreclosure">What are the benefits of a deed in lieu of foreclosure?</h2>
  440.  
  441.  
  442.  
  443. <p>A deed in lieu of foreclosure can be beneficial for both the borrower and lender. The most common perk is usually the avoidance of extensive, lengthy, and costly foreclosure proceedings.</p>
  444.  
  445.  
  446.  
  447. <p>Additionally, the borrower might be able to avoid public embarrassment or notoriety, depending on how this process is handled where they live. Because both sides come to an understanding that includes specific terms regarding when and how the property owner will vacate the premises, the borrower also avoids the possibility of having officials show up to evict them&#8211; something that could happen if they go through with a foreclosure.</p>
  448.  
  449.  
  450.  
  451. <p>The potential benefits of agreeing to a deed in lieu of foreclosure agreement are numerous. By avoiding extended foreclosure proceedings, the lender often saves money on expensive legal fees. In addition, the property owner may be able to lease the property back from the lender for a certain period of time.</p>
  452.  
  453.  
  454.  
  455. <p>However, there are certain risks that the lender needs to be aware of before entering into this type of arrangement. These risks include the possibility that the property is not worth more than the remaining balance on the mortgage and that junior creditors might hold liens on the property.</p>
  456.  
  457.  
  458.  
  459. <h2 class="wp-block-heading" id="h-what-are-the-drawbacks-of-a-deed-in-lieu-of-foreclosure">What are the drawbacks of a deed in lieu of foreclosure?</h2>
  460.  
  461.  
  462.  
  463. <p>The most obvious downside is losing your property, any rental income from the real estate, and your initial investment in the home. There are also <a href="https://www.sdshortsaleexperts.com/short-sale/short-sale-faqs/taxes-after-a-short-sale/">potential tax costs</a> associated with transferring the property.</p>
  464.  
  465.  
  466.  
  467. <h2 class="wp-block-heading" id="h-how-can-i-get-a-deed-in-lieu-of-foreclosure">How can I get a deed in lieu of foreclosure?</h2>
  468.  
  469.  
  470.  
  471. <p>If you&#8217;re considering a deed in lieu of foreclosure, it&#8217;s important to know what to expect. Here&#8217;s a rundown of the process:</p>
  472.  
  473.  
  474.  
  475. <ol><li>Call your mortgage company to explain the situation and start the process.</li><li>Gather your basic financial documents: mortgage statements, bank statements, and pay stubs.</li><li>Fill out the lender-required deed in lieu of foreclosure forms, and provide any financial documentation requested.</li></ol>
  476.  
  477.  
  478.  
  479. <p>Getting a deed in lieu is a legal process, so it may be a good idea to have a real estate attorney help you. They&#8217;ll understand the provisions of the agreement and what you will and won&#8217;t be responsible for. Having someone negotiate on your behalf could save you money above and beyond whatever legal fee is necessary.</p>
  480.  
  481.  
  482.  
  483. <h2 class="wp-block-heading" id="h-what-are-the-risks-of-a-deed-in-lieu-of-foreclosure">What are the risks of a deed in lieu of foreclosure?</h2>
  484.  
  485.  
  486.  
  487. <p>There are several risks associated with a deed in lieu of foreclosure, including the following:</p>
  488.  
  489.  
  490.  
  491. <ol><li>The lender may not accept the deed in lieu of foreclosure, and the borrower will still be responsible for paying off the mortgage.</li><li>The borrower may not be eligible for a deed in lieu of foreclosure if they have already missed mortgage payments or are in default on their loan.</li><li>The borrower may have to pay taxes on any forgiven debt as part of the deed in lieu of foreclosure agreement.</li><li>The borrower&#8217;s credit score will likely be negatively impacted by a deed in lieu of foreclosure.</li></ol>
  492.  
  493.  
  494.  
  495. <h2 class="wp-block-heading" id="h-does-a-deed-in-lieu-of-foreclosure-hurt-your-credit">Does a deed in lieu of foreclosure hurt your credit?</h2>
  496.  
  497.  
  498.  
  499. <p>While a deed in lieu of foreclosure can be less damaging to your credit than a foreclosure, it will still have a negative impact on your score. Additionally, it may be difficult to qualify for a new mortgage or rental property after a deed in lieu of foreclosure. If you are considering this option, be sure to speak with a housing counselor or financial advisor to weigh all of your options.</p>
  500.  
  501.  
  502.  
  503. <h2 class="wp-block-heading" id="Will-I-Owe-Money-After-A-Deed-In-Lieu-Of-Foreclosure">Will I Owe Money After A Deed In Lieu Of Foreclosure?</h2>
  504.  
  505.  
  506.  
  507. <p>A deed in lieu of foreclosure is when the homeowner signs over the deed to the home to the lender instead of going through with a foreclosure sale. This is often seen as a way to avoid damaging one&#8217;s credit score. However, the homeowner may owe any unpaid mortgage balance, plus any fees and costs associated with the foreclosure process. The lender may waive the difference between the proceeds they get from the real estate sale and the balance you owe, they’re not obligated to do so. You could end up with a judgment for the difference. (Each state has different laws that may or may not protect you. <a href="http://contact">Contact us today</a> to learn more.) The lender may also require that the homeowner sign a promissory note for any deficiency balance.</p>
  508.  
  509.  
  510.  
  511. <h2 class="wp-block-heading" id="h-how-can-i-get-more-info-about-a-deed-in-lieu-of-foreclosure">How can I get more info about a deed in lieu of foreclosure?</h2>
  512.  
  513.  
  514.  
  515. <p>If you are behind on payments and facing foreclosure, make sure you are working with a real estate agent and <a href="https://www.sdshortsaleexperts.com/">short sale negotiator</a> who specializes in foreclosure avoidance. Many companies and agents claim to be proficient in these types of sales, but few possess the knowledge and experience. Our team has negotiated over 3,5000 short sales and we have a working relationship with Bank of America.</p>
  516.  
  517.  
  518.  
  519. <p>Contact us today at 619-777-6716 or submit your information on our&nbsp;<a href="https://www.sdshortsaleexperts.com/contact-us/"><strong>contact form</strong></a>&nbsp;and we will be in touch to discuss how we can help you.</p>
  520.  
  521.  
  522.  
  523. <p></p>
  524. <p>The post <a href="https://www.sdshortsaleexperts.com/foreclosure/foreclosure-faqs/deed-in-lieu-of-foreclosure/">Deed in Lieu of Foreclosure</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  525. ]]></content:encoded>
  529. </item>
  530. <item>
  531. <title>Short Sale Relocation Assistance</title>
  532. <link>https://www.sdshortsaleexperts.com/short-sale/learn-about-short-sales/short-sale-relocation-assistance/</link>
  534. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  535. <pubDate>Fri, 29 Jul 2022 18:35:36 +0000</pubDate>
  536. <category><![CDATA[Foreclosure FAQs]]></category>
  537. <category><![CDATA[Learn About Short Sales]]></category>
  538. <category><![CDATA[receive money after a short sale]]></category>
  539. <category><![CDATA[relocation assistance]]></category>
  540. <category><![CDATA[Short Sale]]></category>
  541. <guid isPermaLink="false">https://www.sdshortsaleexperts.com/?p=886</guid>
  542.  
  543. <description><![CDATA[<p>The post <a href="https://www.sdshortsaleexperts.com/short-sale/learn-about-short-sales/short-sale-relocation-assistance/">Short Sale Relocation Assistance</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  544. ]]></description>
  545. <content:encoded><![CDATA[<p>The post <a href="https://www.sdshortsaleexperts.com/short-sale/learn-about-short-sales/short-sale-relocation-assistance/">Short Sale Relocation Assistance</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  546. ]]></content:encoded>
  550. </item>
  551. <item>
  552. <title>Offer Guidelines</title>
  553. <link>https://www.sdshortsaleexperts.com/blog/offer-guidelines/</link>
  555. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  556. <pubDate>Thu, 31 Dec 2020 01:33:58 +0000</pubDate>
  557. <category><![CDATA[Uncategorized]]></category>
  558. <guid isPermaLink="false">https://sdsse.ridgebox.com/?p=754</guid>
  559.  
  560. <description><![CDATA[<p>The post <a href="https://www.sdshortsaleexperts.com/blog/offer-guidelines/">Offer Guidelines</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  561. ]]></description>
  562. <content:encoded><![CDATA[<p>The post <a href="https://www.sdshortsaleexperts.com/blog/offer-guidelines/">Offer Guidelines</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  563. ]]></content:encoded>
  567. </item>
  568. <item>
  569. <title>HAFA Short Sale</title>
  570. <link>https://www.sdshortsaleexperts.com/short-sale/learn-about-short-sales/hafa-short-sale/</link>
  572. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  573. <pubDate>Thu, 31 Dec 2020 01:31:15 +0000</pubDate>
  574. <category><![CDATA[Learn About Short Sales]]></category>
  575. <guid isPermaLink="false">https://sdsse.ridgebox.com/?p=752</guid>
  576.  
  577. <description><![CDATA[<p>Home Affordable Foreclosure Alternatives (HAFA) Short Sale Program The Home Affordable Foreclosure Alternatives (HAFA) short sale program, effective from April 5, 2010 through Dec. 31, 2016, was a government-sponsored program designed to ease the short sale process for homeowners. The program was discontinued when the market had improved and short sales declined. Basic Overview of HAFA Does not take effect until April 5, 2010 ...</p>
  578. <p>The post <a href="https://www.sdshortsaleexperts.com/short-sale/learn-about-short-sales/hafa-short-sale/">HAFA Short Sale</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  579. ]]></description>
  580. <content:encoded><![CDATA[<h2>Home Affordable Foreclosure Alternatives (HAFA) Short Sale Program</h2>
  581. <p>The Home Affordable Foreclosure Alternatives (HAFA) short sale program, effective from April 5, 2010 through Dec. 31, 2016, was a government-sponsored program designed to ease the short sale process for homeowners. The program was discontinued when the market had improved and short sales declined.</p>
  582. <h3>Basic Overview of HAFA</h3>
  583. <ul type="disc">
  584. <li>Does not take effect until April 5, 2010</li>
  585. <li>Pertains to 1st Lien Non-GSE Mortgages</li>
  586. <li>Utilizes borrower’s financial information through HAMP</li>
  587. <li>Financial incentives provided to borrowers, servicers and investors</li>
  588. <li>Sets limits on lender response time</li>
  589. <li>Lender forfeits ability to pursue deficiency judgment</li>
  590. <li>Caps claims of subordinate lenders</li>
  591. </ul>
  592. <h3>Requirements of HAFA</h3>
  593. <div>A loan is eligible if all of the following conditions are met:</div>
  594. <div>
  595. <ul type="disc">
  596. <li>Property is borrower’s principal residence</li>
  597. <li>Loan is a 1st lien mortgage</li>
  598. <li>Originated before Jan 1, 2009</li>
  599. <li>Mortgage is delinquent or default is reasonably foreseeable</li>
  600. <li>Current unpaid balance is equal to or less than $729,750</li>
  601. <li>Borrower’s total monthly mortgage payment exceeds 31% of borrower’s gross income</li>
  602. </ul>
  603. <h3>Incentives of HAFA</h3>
  604. <ul type="disc">
  605. <li>$3,000 to Borrowers for relocation costs</li>
  606. <li>Will be deducted from gross sale proceeds at closing</li>
  607. <li>$1,000 to Servicers for administration and processing fees</li>
  608. <li>The servicer may not charge the borrower any processing fees and MUST pay all out-of-pocket expenses</li>
  609. <li>$1,000 to Investors for subordinate lien holder payoff</li>
  610. <li>For every three dollars spent to release liens, buyer or investor is reimbursed one dollar – capped at $3,000</li>
  611. </ul>
  612. </div>
  613. <p>The post <a href="https://www.sdshortsaleexperts.com/short-sale/learn-about-short-sales/hafa-short-sale/">HAFA Short Sale</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  614. ]]></content:encoded>
  618. </item>
  619. <item>
  620. <title>Citi Bank Short Sale</title>
  621. <link>https://www.sdshortsaleexperts.com/short-sale/banks/citi-bank-short-sale/</link>
  623. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  624. <pubDate>Thu, 31 Dec 2020 01:25:05 +0000</pubDate>
  625. <category><![CDATA[Banks]]></category>
  626. <guid isPermaLink="false">https://sdsse.ridgebox.com/?p=749</guid>
  627.  
  628. <description><![CDATA[<p>The post <a href="https://www.sdshortsaleexperts.com/short-sale/banks/citi-bank-short-sale/">Citi Bank Short Sale</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  629. ]]></description>
  630. <content:encoded><![CDATA[<p>The post <a href="https://www.sdshortsaleexperts.com/short-sale/banks/citi-bank-short-sale/">Citi Bank Short Sale</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  631. ]]></content:encoded>
  635. </item>
  636. <item>
  637. <title>Ways To Stop Foreclosure Immediately</title>
  638. <link>https://www.sdshortsaleexperts.com/foreclosure/ways-to-stop-foreclosure-immediately/</link>
  640. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  641. <pubDate>Wed, 30 Dec 2020 23:49:16 +0000</pubDate>
  642. <category><![CDATA[Foreclosure]]></category>
  643. <category><![CDATA[Stop Foreclosure]]></category>
  644. <category><![CDATA[bankruptcy]]></category>
  645. <category><![CDATA[foreclosure]]></category>
  646. <category><![CDATA[Short Sale]]></category>
  647. <category><![CDATA[stop foreclosure]]></category>
  648. <guid isPermaLink="false">https://sdsse.ridgebox.com/?p=745</guid>
  649.  
  650. <description><![CDATA[<p>How To Stop Foreclosure Immediately If you are in a position that you can no longer afford to make your payments or have already fallen behind on your mortgage, it can be a very stressful time. There are many emotions that come along with this situation… pride, fear, anger, disappointment…. We work with people every day that are going through the same thing, and ...</p>
  651. <p>The post <a href="https://www.sdshortsaleexperts.com/foreclosure/ways-to-stop-foreclosure-immediately/">Ways To Stop Foreclosure Immediately</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  652. ]]></description>
  653. <content:encoded><![CDATA[<h1>How To Stop Foreclosure Immediately</h1>
  654. <p>If you are in a position that you can no longer afford to make your payments or have already fallen behind on your mortgage, it can be a very stressful time. There are many emotions that come along with this situation… pride, fear, anger, disappointment…. We work with people every day that are going through the same thing, and understand what you are going through. The most important thing for you to do in this situation is to first, understand that you are not the only one. Millions of people are going through this same situation right now. In most cases, there is nothing that could have been done to prevent it. The most important step at this point is to make sure that you understand your options and take advantage of the solutions that are available to you.</p>
  655. <p>Once you have fallen behind on your mortgage, your lender will start the foreclosure process and you will receive information and lots of not so subtle suggestions from many people who want to take advantage of your temporary misfortune. Most will tell you that time is your enemy and that you must act immediately to save your credit. Some will try to steer you towards one option that benefits them, and others may follow with a proposal to solve your problem by selling or deeding your property to them.</p>
  656. <p>Don&#8217;t do it! Don’t do anything until you understand your options. And please make sure to read our section &#8220;Beware of Scams&#8221; to make sure you understand what to watch out for.</p>
  657. <h2>Stop The Foreclosure Sale Date</h2>
  658. <p>If you are deep in the foreclosure process and in a position that your foreclosure date is coming up soon, the options below may not be available. If you need to stop your foreclosure immediately, we have an option. We have attorneys that can stop your foreclosure all the way up to the week of the scheduled sale. You can read more on our Stop Foreclosure Immediately page or contact us today to learn more.</p>
  659. <h2><strong>Options to Avoid Foreclosure</strong></h2>
  660. <p>If you are behind on mortgage payments but do not have a pending foreclosure date, here are the options you may have available to you to avoid foreclosure. Also, make sure to download a copy of our book &#8220;Avoiding Foreclosure; How not to go broke saving your home.&#8221;</p>
  661. <p><strong>Loan Workout / Repayment Plan:</strong> If you experience difficulty paying your mortgage, you should immediately contact your lender or a housing counselor to try to work something out. If you just need a little time to get back on your feet, your lender may agree to a loan workout plan to temporarily reduce or suspend your payments, allow you to repay what&#8217;s past due in monthly installments, or provide some other type of relief.</p>
  662. <p>One form of loan workout programs is a &#8220;forbearance agreement&#8221;.</p>
  663. <p><strong>Forbearance Agreement: </strong>In a forbearance agreement, the lender will give you a set period of time that you do not need to make your mortgage payments, or will offer you a reduced payment amount. Typically, a forbearance plan will last between 3 to 6 months. A longer period may be an option depending on your situation and the lender&#8217;s guidelines.</p>
  664. <p>Lenders typically offer one of three options at the end of a forbearance plan:</p>
  665. <ol>
  666. <li>The balance of the missed payments is due as a lump sum payment.</li>
  667. <li>The missed payments are spread out over a fixed period of time and added to your existing payment.</li>
  668. <li>The missed payments are added to the balance of the loan.</li>
  669. </ol>
  670. <p>Often times when a borrower completes a forbearance program they then go into a loan modification to work out a more permanent solution.</p>
  671. <p><strong>Loan Modification:</strong> If you wish to keep your home, the very first thing you should do is check if you qualify for a loan modification. A loan modification is an agreement between you and your lender to adjust or &#8220;modify&#8221; the terms of your loan. The goal of a loan modification is to bring the mortgage payments current and lower the monthly mortgage payments.</p>
  672. <p>A loan modification can involve reducing the interest rate, extending the term of the loan, writing of a portion of the balance, adding the delinquent payments to the loan balance, or forgiving them all together. In some loan modifications, the lender may designate a portion of the balance as a “principal forbearance”. That amount of the balance does not accrue interest and that portion of the loan is due when the loan is paid off.</p>
  673. <p><strong>Sell Your Home:</strong> If you are facing a financial hardship that your lender feels you cannot rebound from, you may not qualify for a loan modification program and you will need to sell your home to pay the mortgage and missed payments. If you need to sell your home, it&#8217;s important to start sooner than later so you have enough time to properly market your home for sale, and get top dollar.</p>
  674. <p>If you do not have enough equity in your home in order to sell, a short sale may be your best option.</p>
  675. <p><strong>Short Sale: </strong>If you need to sell your home, but do not have enough equity, a short sale is going to be an option. A short sale allows you to sell your home for less than what is owed on the mortgage. In a short sale, your lender will write off the remaining balance and all delinquent payments.</p>
  676. <p>To sell the home as a short sale, you should list it with a real estate professional that&#8217;s well versed in these types of sales. The short sale process is very complex. You will be contacted by numerous agents claiming to be &#8220;experts&#8221; or &#8220;specialists&#8221;. The truth is, most have completed very few if any. And a short sale designation does not mean anything. If you want a truly experienced agent, verify they have closed at least 20 short sales.</p>
  677. <p><strong>Deed In Lieu of Foreclosure:</strong> Generally, if a borrower makes a good faith effort to sell the property but is not successful, a servicer may consider a deed-in-lieu of foreclosure. With a deed-in-lieu, the borrower voluntarily transfers ownership of the property to the servicer— provided the title is free and clear of mortgages, liens, and encumbrances.</p>
  678. <p><strong>Chapter 7 or Chapter 13 Bankruptcy:</strong> If you want to keep your home, you may want to file for bankruptcy. Bankruptcy is a federal court proceeding for settling your debts with your creditors under a judge&#8217;s supervision. If you are facing foreclosure, filing bankruptcy may provide an &#8220;automatic stay&#8221; to temporarily stop the foreclosure proceedings.</p>
  679. <p>Chapter 7 Bankruptcy typically will not help you keep the home unless you are current on payments and have little equity. Often times, chapter 7 is used to eliminate the 2nd mortgage. A chapter 7 bankruptcy will allow you to delay a foreclosure by at least a couple of months. But, it not often advised unless you have a lot of other outstanding debts that you can include in the bankruptcy to eliminate (discharge).</p>
  680. <p>Chapter 13 Bankruptcy is a program that reorganizes your payments. In chapter 13 you may be able to keep your property, but you must generally repay the overdue amount in a three-to-five-year plan along with your regular mortgage payments.</p>
  681. <p><strong>Other Alternatives:</strong> There are many other alternatives to foreclosure. You may be able to borrow money from family or friends. You may be able to supplement your income by renting out a bedroom or getting a second job. You may have a struggling small business that qualifies for an interest-free, deferred-payment America&#8217;s Recovery Capital (ARC) loan up to $35,000 from the U.S. Small Business Administration. You may also be able to come up with some other alternatives to foreclosure not mentioned here. For any of these alternatives to foreclosure, carefully consider their pros and cons, including possible credit, tax, legal, and other consequences.</p>
  682. <p>The bottom line is to be proactive and start the process as early as possible when you have realized you are no longer able to afford your home. If you feel that you may want to keep your home, your first step is to contact your lender.</p>
  683. <h2>Best Way To Avoid Foreclosure</h2>
  684. <p>Each person&#8217;s situation is unique and there isn&#8217;t a &#8220;Best Way&#8221;. You need to talk with a professional to explore all of your options and determine the best solution.</p>
  685. <p>Our team can help you evaluate all of your options to determine the best option for you. There is never any obligation or fee for our time. We have the experience necessary to successfully complete a short sale on your property. Contact us today to learn more. We can make things easier than they seem and will assist you in finding the solution that makes the most sense for YOU.</p>
  686. <p>The post <a href="https://www.sdshortsaleexperts.com/foreclosure/ways-to-stop-foreclosure-immediately/">Ways To Stop Foreclosure Immediately</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  687. ]]></content:encoded>
  691. </item>
  692. <item>
  693. <title>Fannie Mae high LTV Refinance HIRO</title>
  694. <link>https://www.sdshortsaleexperts.com/loan-modification/learn-about-loan-modification/fannie-mae-high-ltv-refinance-hiro/</link>
  696. <dc:creator><![CDATA[Glen Henderson]]></dc:creator>
  697. <pubDate>Mon, 08 Jun 2020 05:22:39 +0000</pubDate>
  698. <category><![CDATA[Loan Modification]]></category>
  699. <guid isPermaLink="false">https://sdsse.ridgebox.com/?p=561</guid>
  700.  
  701. <description><![CDATA[<p>Fannie Mae high LTV refinance option (HIRO) The Fannie Mae High Loan-To-Value Refinance Option (HIRO) is for homeowners who are underwater on their mortgages but want to refinance at today’s low rates. If you have a recent mortgage with a high rate, but not enough equity to refinance, the HIRO program may be the solution to your problems. With rising home prices around the ...</p>
  702. <p>The post <a href="https://www.sdshortsaleexperts.com/loan-modification/learn-about-loan-modification/fannie-mae-high-ltv-refinance-hiro/">Fannie Mae high LTV Refinance HIRO</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  703. ]]></description>
  704. <content:encoded><![CDATA[
  705. <div class="wp-block-yoast-seo-table-of-contents yoast-table-of-contents"><h2>Table of contents</h2><ul><li><a href="#fannie-mae-high-ltv-refinance-option-hiro" data-level="1">Fannie Mae high LTV refinance option (HIRO) </a><ul><li><a href="#what-is-the-hiro-mortgage-program" data-level="2">What is the HIRO Mortgage Program?</a></li><li><a href="#the-hiro-program-advantage" data-level="2">The HIRO Program Advantage</a></li><li><a href="#qualifying-for-the-high-ltv-refinance-hiro" data-level="2">Qualifying for the high LTV refinance (HIRO)</a><ul><li><a href="#minimum-loan-to-value-ratios-for-the-hiro-program" data-level="3">Minimum loan-to-value ratios for the HIRO program</a><ul><li><a href="#example-ltv-not-eligible-for-a-hiro-mortgage" data-level="4">Example LTV: Not eligible for a HIRO mortgage</a></li><li><a href="#example-ltv-eligible-for-a-hiro-mortgage" data-level="4">Example LTV: Eligible for a HIRO mortgage</a></li></ul></li><li><a href="#maximum-loan-to-value-ratios-for-the-hiro-program" data-level="3">Maximum loan-to-value ratios for the HIRO program</a></li></ul></li><li><a href="#high-ltv-refinance-option-hiro-faq" data-level="2">High LTV refinance option (HIRO) FAQ</a><ul><li><a href="#What-is-a-HIRO-mortgage" data-level="3">What is a HIRO mortgage?</a></li><li><a href="#Who-can-use-the-“HIRO”-HARP-replacement-program" data-level="3">Who can use the “HIRO” HARP replacement program?</a></li><li><a href="#When-does-HIRO-expire" data-level="3">When does HIRO expire?</a></li><li><a href="#Do-credit-scores-matter-with-the-High-LTV-Refinance-Option" data-level="3">Do credit scores matter with the High LTV Refinance Option?</a></li><li><a href="#Is-there-a-debt-to-income-ratio-(DTI)-limit-for-the-HIRO-program" data-level="3">Is there a debt-to-income ratio (DTI) limit for the HIRO program?</a></li><li><a href="#Does-the-HIRO-mortgage-program-require-re-verification-of-income" data-level="3">Does the HIRO mortgage program require re-verification of income?</a></li><li><a href="#Do-I-need-to-provide-bank-statements" data-level="3">Do I need to provide bank statements?</a></li><li><a href="#Does-the-HIRO-mortgage-require-an-appraisal" data-level="3">Does the HIRO mortgage require an appraisal?</a></li><li><a href="#Is-mortgage-insurance-required-with-the-high-LTV-refinance-option" data-level="3">Is mortgage insurance required with the high LTV refinance option?</a></li><li><a href="#Can-you-remove-a-borrower-with-Fannie-Mae’s-High-LTV-program" data-level="3">Can you remove a borrower with Fannie Mae’s High LTV program?</a></li><li><a href="#Is-the-High-LTV-Option-a-replacement-for-HARP" data-level="3">Is the High LTV Option a replacement for HARP?</a></li><li><a href="#Can-I-receive-the-High-LTV-Refinance-Option-if-I-used-HARP" data-level="3">Can I receive the High LTV Refinance Option if I used HARP?</a></li><li><a href="#What-about-HLRO-rates" data-level="3">What about HLRO rates?</a></li></ul></li><li><a href="#apply-for-the-hiro-high-ltv-refinance-program-now" data-level="2">Apply for the HIRO High LTV Refinance Program Now</a></li></ul></li></ul></div>
  706.  
  707.  
  708.  
  709. <h1 class="wp-block-heading" id="fannie-mae-high-ltv-refinance-option-hiro">Fannie Mae high LTV refinance option (HIRO) </h1>
  710.  
  711.  
  712.  
  713. <p>The Fannie Mae High Loan-To-Value Refinance Option (HIRO) is for homeowners who are underwater on their mortgages but want to refinance at today’s low rates.</p>
  714.  
  715.  
  716.  
  717. <p>If you have a recent mortgage with a high rate, but not enough equity to refinance, the HIRO program may be the solution to your problems.</p>
  718.  
  719.  
  720.  
  721. <p>With rising home prices around the U.S., the HIRO might seem unnecessary to some. But there are still areas of the country where home prices are stagnant or falling.</p>
  722.  
  723.  
  724.  
  725. <p>Homeowners who purchased homes since late 2017 and made a small down payment could benefit greatly from this program.</p>
  726.  
  727.  
  728.  
  729. <h2 class="wp-block-heading" id="what-is-the-hiro-mortgage-program">What is the HIRO Mortgage Program?</h2>
  730.  
  731.  
  732.  
  733. <p>The Fannie Mae High LTV Refinance Option (HIRO) is a loan program designed to help homeowners refinance into a lower rate and payment even if they have little or no equity in their home.</p>
  734.  
  735.  
  736.  
  737. <p>Even if you have great credit and income, it’s difficult or impossible to refinance a home without equity.</p>
  738.  
  739.  
  740.  
  741. <p>It’s true that home values have been rising. But not everywhere. Not&nbsp;<em>all</em>&nbsp;home prices are up.</p>
  742.  
  743.  
  744.  
  745. <p>Every community likely has places which have not appreciated much and perhaps not at all. In fact, there are entire metro areas where home prices on average have declined.</p>
  746.  
  747.  
  748.  
  749. <p>About 3.5 million U.S. properties were seriously underwater in the fourth quarter of 2019, according to&nbsp;<a href="https://www.attomdata.com/news/market-trends/home-sales-prices/attom-data-solutions-2019-year-end-home-equity-and-underwater-report/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">ATTOM Data Solutions</a>.</p>
  750.  
  751.  
  752.  
  753. <p>That means one in 16 homeowners has a mortgage loan balance that’s at least 25% higher than their home’s value.</p>
  754.  
  755.  
  756.  
  757. <p>If you’re one of those homeowners, HIRO might help you refinance into a lower rate.</p>
  758.  
  759.  
  760.  
  761. <h2 class="wp-block-heading" id="the-hiro-program-advantage">The HIRO Program Advantage</h2>
  762.  
  763.  
  764.  
  765. <p>The Fannie Mae High LTV Refi Option (HIRO) is designed to help borrowers with little or no equity. In fact, it can actually help some underwater borrowers — borrowers who owe more on their homes than the property is worth.</p>
  766.  
  767.  
  768.  
  769. <p>While a lack of equity is a problem for millions of homeowners there is also a less-visible issue. Low-equity owners are often trapped with high-cost mortgages which cannot be refinanced at today’s rates.</p>
  770.  
  771.  
  772.  
  773. <p>For instance, if you purchased a home with 3% down using Fannie Mae’s HomeReady loan in late 2017, your situation might look like this:</p>
  774.  
  775.  
  776.  
  777. <ul><li>Original purchase price: $250,000</li><li>Down payment: $7,500 (3%)</li><li>Current loan balance: Around $238,000</li><li>Current value: $245,000</li><li>Current loan-to-value: 97.14%</li></ul>
  778.  
  779.  
  780.  
  781. <p>In this scenario, you might be eligible for the HIRO since you have a&nbsp;<a href="https://themortgagereports.com/13598/loan-to-value-for-mortgages-explained-in-plain-english" target="_blank" rel="noreferrer noopener" aria-label="LTV  (opens in a new tab)">loan-to-value ratio&nbsp;</a>that’s too high to refinance with a traditional loan.</p>
  782.  
  783.  
  784.  
  785. <p>Because rates are falling, the Fannie Mae High LTV Refinance Option can lower your monthly payment and free up needed cash in your budget.</p>
  786.  
  787.  
  788.  
  789. <p>Why is Fannie Mae easing loan requirements under this program? After all the paperwork is shuffled, the borrower has a lower monthly cost or a better loan. Fannie Mae has a borrower with a good payment record who represents less risk.</p>
  790.  
  791.  
  792.  
  793. <h2 class="wp-block-heading" id="qualifying-for-the-high-ltv-refinance-hiro">Qualifying for the high LTV refinance (HIRO)</h2>
  794.  
  795.  
  796.  
  797. <p>Both borrowers and lenders want to assure that your refinance will create a “net tangible benefit.” In the case of the Fannie Mae High LTV Refinance Option, the company says the loan must result in at least one of these four benefits:</p>
  798.  
  799.  
  800.  
  801. <ul><li>Reduced monthly principal and interest payment</li><li>Lower interest rate</li><li>Shorter amortization term</li><li>More stable mortgage product, such as moving from an adjustable-rate mortgage to a fixed-rate mortgage</li></ul>
  802.  
  803.  
  804.  
  805. <p>If any of the above applies to you, you might be eligible for the HIRO mortgage program. Find out here.</p>
  806.  
  807.  
  808.  
  809. <h3 class="wp-block-heading" id="minimum-loan-to-value-ratios-for-the-hiro-program">Minimum loan-to-value ratios for the HIRO program</h3>
  810.  
  811.  
  812.  
  813. <p>Fannie Mae is trying to help good borrowers in areas with little or no property value increases. If you have “too much” equity you can’t qualify for the HIRO program. The minimum current loan-to-value (LTV) ratios are:</p>
  814.  
  815.  
  816.  
  817. <figure class="wp-block-table"><table><tbody><tr><td><strong>Type of Residence</strong></td><td><strong>Number of Units</strong></td><td><strong>LTV Required for HIRO</strong></td></tr><tr><td>Primary residence</td><td>1-unit</td><td><strong>97.01%</strong>&nbsp;or higher</td></tr><tr><td>2-unit</td><td><strong>85.01%</strong>&nbsp;or higher</td></tr><tr><td>3-4 unit</td><td><strong>75.01%</strong>&nbsp;or higher</td></tr><tr><td>Second home</td><td>1-unit</td><td><strong>90.01%</strong>&nbsp;or higher</td></tr><tr><td>Investment property</td><td>1-4-unit</td><td><strong>75.01%</strong>&nbsp;or higher</td></tr></tbody></table></figure>
  818.  
  819.  
  820.  
  821. <p>Keep in mind these aren’t maximums for the&nbsp;<em>new</em>&nbsp;loan. These are&nbsp;<em>minimums</em>&nbsp;for your current loan.</p>
  822.  
  823.  
  824.  
  825. <p>For example, here are numbers for a 1-unit primary residence.</p>
  826.  
  827.  
  828.  
  829. <h4 class="wp-block-heading" id="example-ltv-not-eligible-for-a-hiro-mortgage"><strong>Example LTV: Not eligible for a HIRO mortgage</strong></h4>
  830.  
  831.  
  832.  
  833. <ul><li>Example property value: $300,000</li><li>Current loan balance: $260,000</li><li>Current LTV:<strong>&nbsp;86%</strong>&nbsp;(LTV not eligible)</li></ul>
  834.  
  835.  
  836.  
  837. <h4 class="wp-block-heading" id="example-ltv-eligible-for-a-hiro-mortgage"><strong>Example LTV: Eligible for a HIRO mortgage</strong></h4>
  838.  
  839.  
  840.  
  841. <ul><li>Example property value $300,000</li><li>Current loan balance: $295,000</li><li>LTV:&nbsp;<strong>98.3%</strong>&nbsp;(LTV eligible)</li></ul>
  842.  
  843.  
  844.  
  845. <p>And remember — you’re only eligible for Fannie Mae’s HIRO program if your&nbsp;<em>current</em>&nbsp;mortgage is owned by Fannie Mae.</p>
  846.  
  847.  
  848.  
  849. <p>Don’t know if you have a Fannie Mae-backed loan or not? Use Fannie’s&nbsp;<a href="https://www.knowyouroptions.com/loanlookup" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Lookup Tool</a>&nbsp;to find out.</p>
  850.  
  851.  
  852.  
  853. <h3 class="wp-block-heading" id="maximum-loan-to-value-ratios-for-the-hiro-program">Maximum loan-to-value ratios for the HIRO program</h3>
  854.  
  855.  
  856.  
  857. <p>The Fannie Mae High LTV Refi Option program has no maximum LTV for new 30- and 15-year fixed-rate mortgages. That means your new loan can be at 125% or even 150% LTV and you are still eligible.</p>
  858.  
  859.  
  860.  
  861. <p>For those refinancing into an adjustable-rate mortgage (ARM) the maximum amount is equal to 105% of the property’s value.</p>
  862.  
  863.  
  864.  
  865. <h2 class="wp-block-heading" id="high-ltv-refinance-option-hiro-faq">High LTV refinance option (HIRO) FAQ</h2>
  866.  
  867.  
  868.  
  869. <h3 class="wp-block-heading" id="What-is-a-HIRO-mortgage">What is a HIRO mortgage?</h3>
  870.  
  871.  
  872.  
  873. <p>HIRO is a mortgage refinance program. HIRO is short for “high LTV refinance option” — a special refi program run by Fannie Mae. If you have very little equity, but want to refinance into today’s low mortgage rates, you might be able to use Fannie Mae’s HIRO mortgage to your advantage. It could help lower your rate and make your monthly mortgage payment more affordable. <a href="https://www.sdshortsaleexperts.com/contact-us/">Contact us today</a> to find out if you qualify for a HIRO refinance.</p>
  874.  
  875.  
  876.  
  877. <h3 class="wp-block-heading" id="Who-can-use-the-“HIRO”-HARP-replacement-program">Who can use the “HIRO” HARP replacement program?</h3>
  878.  
  879.  
  880.  
  881. <p>While the need for the Fannie Mae High LTV Refi Option is wide, not all property owners can qualify. Owners need to check certain boxes to get into the program:</p>
  882.  
  883.  
  884.  
  885. <p>– The current loan must be owned by Fannie Mae. To see if your loan qualifies, go to the&nbsp;<a href="https://www.knowyouroptions.com/loanlookup" target="_blank" rel="noreferrer noopener"><strong>Fannie Mae Lookup Tool</strong></a></p>
  886.  
  887.  
  888.  
  889. <p>– The loan must have been originated (opened) on or after October 1, 2017</p>
  890.  
  891.  
  892.  
  893. <p>– At least 15 months must have passed before the loan can qualify for the HLRO program. For example, says Fannie Mae, if the note date on the existing loan is January 1, 2018, the note date (closing date) of the new loan must be no earlier than April 1, 2019</p>
  894.  
  895.  
  896.  
  897. <p>– You must have no 30-day late payments during the past six months, not more than one 30-day late payment in the past 12 months, and no delinquency greater than 30 days</p>
  898.  
  899.  
  900.  
  901. <h3 class="wp-block-heading" id="When-does-HIRO-expire">When does HIRO expire?</h3>
  902.  
  903.  
  904.  
  905. <p>Fannie Mae has not set an expiration date for the HIRO mortgage program.</p>
  906.  
  907.  
  908.  
  909. <h3 class="wp-block-heading" id="Do-credit-scores-matter-with-the-High-LTV-Refinance-Option">Do credit scores matter with the High LTV Refinance Option?</h3>
  910.  
  911.  
  912.  
  913. <p>With Fannie Mae High LTV Refi Option (HIRO) loans, there are no credit score worries. Lenders are generally not required to consider credit scores. The reason is that the new loan is financing a property where the borrower has a good financial history.</p>
  914.  
  915.  
  916.  
  917. <p>However, check with your lender. Just because Fannie Mae doesn’t set a minimum credit score doesn’t mean the lender can’t “layer” their own rules on top of Fannie Mae guidelines.</p>
  918.  
  919.  
  920.  
  921. <h3 class="wp-block-heading" id="Is-there-a-debt-to-income-ratio-(DTI)-limit-for-the-HIRO-program">Is there a debt-to-income ratio (DTI) limit for the HIRO program?</h3>
  922.  
  923.  
  924.  
  925. <p>There is no&nbsp;<strong>debt-to-income ratio</strong>&nbsp;ceiling. The logic is that the borrower has been making full and timely payments and the new financing is likely to reduce monthly costs.</p>
  926.  
  927.  
  928.  
  929. <h3 class="wp-block-heading" id="Does-the-HIRO-mortgage-program-require-re-verification-of-income">Does the HIRO mortgage program require re-verification of income?</h3>
  930.  
  931.  
  932.  
  933. <p>The HIRO Program lender must obtain&nbsp;<em>one</em>&nbsp;of the following:</p>
  934.  
  935.  
  936.  
  937. <ul><li>Verbal verification of current employment or self-employment for at least one borrower</li><li>Documentation of non-employment income such as a pension</li><li>Documentation of liquid financial reserves equaling at least 12 months of the new full housing payment including taxes, insurance, etc.</li></ul>
  938.  
  939.  
  940.  
  941. <p>The lender is not required to calculate a new debt-to-income ratio for the refinance unless your payment increases by 20%, you are removing a borrower from the loan, or you trigger the Alternative Qualification Path in another way.</p>
  942.  
  943.  
  944.  
  945. <p>The Alternative Qualification Path is any situation where the lender has to re-qualify the loan because it is changing from the former loan in a significant way.</p>
  946.  
  947.  
  948.  
  949. <h3 class="wp-block-heading" id="Do-I-need-to-provide-bank-statements">Do I need to provide bank statements?</h3>
  950.  
  951.  
  952.  
  953. <p>Typically, no, unless your payment is increasing by 20%, or you are removing a borrower</p>
  954.  
  955.  
  956.  
  957. <h3 class="wp-block-heading" id="Does-the-HIRO-mortgage-require-an-appraisal">Does the HIRO mortgage require an appraisal?</h3>
  958.  
  959.  
  960.  
  961. <p>For some loans, Fannie Mae will permit an appraisal waiver. This is determined when you make full application with the lender. An appraisal waiver will save the applicant time and money by skipping the appraisal process.</p>
  962.  
  963.  
  964.  
  965. <p>However, some loans will require a new, full appraisal. But because there is no maximum LTV, you don’t need to worry about the appraised value coming in too low.</p>
  966.  
  967.  
  968.  
  969. <h3 class="wp-block-heading" id="Is-mortgage-insurance-required-with-the-high-LTV-refinance-option">Is mortgage insurance required with the high LTV refinance option?</h3>
  970.  
  971.  
  972.  
  973. <p>Any existing mortgage insurance will be transferred to the new loan. If the current loan does not carry mortgage insurance, new PMI is not required.</p>
  974.  
  975.  
  976.  
  977. <h3 class="wp-block-heading" id="Can-you-remove-a-borrower-with-Fannie-Mae’s-High-LTV-program">Can you remove a borrower with Fannie Mae’s High LTV program?</h3>
  978.  
  979.  
  980.  
  981. <p>Yes, however, you will have to re-qualify for the loan, proving income, and there is a miminum credit score of 620 and maximum debt-to-income ratio of 45%. Not all lenders will allow you to remove a borrower.</p>
  982.  
  983.  
  984.  
  985. <h3 class="wp-block-heading" id="Is-the-High-LTV-Option-a-replacement-for-HARP">Is the High LTV Option a replacement for HARP?</h3>
  986.  
  987.  
  988.  
  989. <p>Yes. HARP expired in 2018, so this program was rolled out for those who didn’t use that program. You cannot use HLRO if you used HARP.</p>
  990.  
  991.  
  992.  
  993. <h3 class="wp-block-heading" id="Can-I-receive-the-High-LTV-Refinance-Option-if-I-used-HARP">Can I receive the High LTV Refinance Option if I used HARP?</h3>
  994.  
  995.  
  996.  
  997. <p>No. If you refinanced with HARP, you are not eligible to use this program, since it is meant for those who didn’t get a chance to use HARP.</p>
  998.  
  999.  
  1000.  
  1001. <h3 class="wp-block-heading" id="What-about-HLRO-rates">What about HLRO rates?</h3>
  1002.  
  1003.  
  1004.  
  1005. <p>As with all loan options, it pays to shop around. HLRO financing rates at this time are generally in line with other refinancing options. <strong><a href="https://www.sdshortsaleexperts.com/contact-us/">Contact us today</a> to find out if you qualify for a HIRO refinance and to check the current rates.</strong></p>
  1006.  
  1007.  
  1008.  
  1009. <h2 class="wp-block-heading" id="apply-for-the-hiro-high-ltv-refinance-program-now">Apply for the HIRO High LTV Refinance Program Now</h2>
  1010.  
  1011.  
  1012.  
  1013. <p>Fannie Mae works with lenders nationwide, so there is no problem getting High LTV Refi Option information.</p>
  1014.  
  1015.  
  1016.  
  1017. <p>If this refinance type means a lower monthly mortgage payment for you there’s no reason to delay. Speak with lenders now for HIRO information.  <strong><a href="https://www.sdshortsaleexperts.com/contact-us/">Contact us today</a> to find out if you qualify for a HIRO refinance and to check the current rates.</strong></p>
  1018.  
  1019.  
  1020.  
  1021. <p></p>
  1022. <p>The post <a href="https://www.sdshortsaleexperts.com/loan-modification/learn-about-loan-modification/fannie-mae-high-ltv-refinance-hiro/">Fannie Mae high LTV Refinance HIRO</a> appeared first on <a href="https://www.sdshortsaleexperts.com">San Diego Short Sale Experts</a>.</p>
  1023. ]]></content:encoded>
  1027. </item>
  1028. </channel>
  1029. </rss>
  1030.  

If you would like to create a banner that links to this page (i.e. this validation result), do the following:

  1. Download the "valid RSS" banner.

  2. Upload the image to your own server. (This step is important. Please do not link directly to the image on this server.)

  3. Add this HTML to your page (change the image src attribute if necessary):

If you would like to create a text link instead, here is the URL you can use:

http://www.feedvalidator.org/check.cgi?url=https%3A//www.sdshortsaleexperts.com/feed/

Home · About · News · Docs · Terms

 
Copyright © 2002-9 Sam Ruby, Mark Pilgrim, Joseph Walton, and Phil Ringnalda