Woodhaven, NY

Home Affordable Foreclosure Alternatives (HAFA) $3,000 Cash Relocation

Assistance Program For Woodhaven, NY Homeowners. "Certain Terms Apply"

Exit Gracefully

​If homeownership is no longer affordable or the weight of homeownership has become too much to bear, Making Homes Affordable (MHA) has a program that allows you to exit gracefully from the property with $3,000 in relocation assistance. The HAFA short sale program is designed to help underwater sellers either modify their loans or sell their homes as a short sale to avoid foreclosure. Through Home Affordable Foreclosure Alternatives (HAFA), you won't owe any more for the property after selling, and you will be free from the threat of foreclosure. The benefit of a HAFA short sale is that you are no longer responsible for the difference between what you owe on your mortgage and the amount that your home sells for. That's right if you qualify you walk away free and clear!

Eligibility*

You may be eligible to apply if you meet all of the following:

• You live in the home or have lived there in the last 12 months.
• You have a documented financial hardship.
• You have not purchased a new house within the last 12 months.
• Your first mortgage is less than $729,750
• $934,200 for 2 units
• $1,129,250 for 3 units
• $1,403,400 for 4 units
• You obtained your mortgage on or before January 1, 2009.

• You are experiencing a hardship (such as a job loss, divorce or medical emergency) and are unable to afford your current home loan

• You owe more than your home is worth. (Contact Bisendra Melaram Today to Find What Your Home Is Worth)

• You must not have been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering or tax evasion, in connection with a mortgage or Real Estate transaction.

*Eligibility criteria are for guidance only. Contact your mortgage servicer to see if you qualify for HAFA Short Sale or just give Bisendra a call at 718-909-0233.

Program Availability

HAFA is available for mortgages that are owned or guaranteed by Fannie Mae and Freddie Mac or serviced by over 100 HAMP participating servicers. A list of HAMP participating servicers can be found here .

How Will HAFA Program Affect My Credit?

Although a short sale will have a negative effect on your credit, by completing this transaction, you may qualify for future credit sooner than if you allow your home to go through the foreclosure process.

While your lender works with you to complete a short sale, they will continue to report the status of your account to the major credit reporting agencies. If a short sale is completed on your property, your lender will report that your loan was "paid in full for less than the full balance."

You should only consider a short sale after you've explored all other options, including modifying your loan. Please visit my page NY SHORT SALE Information for a complete list of options you may want to consider.

You should contact a tax professional to gain an understanding of any tax implications.

For More Information

If you have additional questions about getting mortgage help contact Bisendra Melaram at (718) 909-0233. He will help you understand your options, design a plan to suit your individual situation, and prepare your application. Research shows that homeowners who work with an experienced HAFA Short Sale Specialist like Bisendra are more successful and have better long-term outcomes. There is no cost to you for this valuable, around-the-clock FREE service. Help is available contact him today!!!

Program Dates

Effective April 5, 2010 - Dec. 31, 2012

Woodhaven is located in the borough of Queens, NY. It is bordered by Forest Park on the north, a public
park; it also borders Ozone Park to the south at Atlantic Avenue, Richmond Hill to the east and the
borough of Brooklyn is it western border. Woodhaven is part of Queens Community Board 9.

There are many Victorian and Colonial style home over 120 years old in this neighborhood. It consists
of mainly one and two family homes. The oldest home is located on 87-20 88th Street. The entire house
was moved from Jamaica Avenue to 88th Street due to the construction of the elevated J line with the
MTA system. Woodhaven is a diverse neighborhood consisting of Asians Americans, Latin Americans
and Europeans and small number of African Americans.

Public transportation is very convenient in Woodhaven; you can catch the J and Z train as well as the
LIRR. Many buses run through Woodhaven making it very convenient to get around; the Express QM15,
QM16, QM17, QM18, QM21, QM24 and QM25. There is also limited bus service on the Q21, Q24 and
Q56 and local service on the Q11 and Q53.

One of its famous hot spots is Forest Park where NY Philharmonics and other big events such as Big
Apple Circus and concerts from the Metropolitan Opera take place every year. There are many activities
for the family, such as tennis courts, a carousel, areas for various athletics activities and playgrounds.

Woodhaven’s school system is located in District 29. Their main revenue comes from the Jamaica
Avenue shopping area, which is littered with many small and local businesses. There is a big parade on
Jamaica Avenue held during the holidays every winter sponsored by the Salvation Army to collect items
to assist people that live in the devastated parts of the world.

Public Schools

P.S. 60 Woodhaven
P.S. 97 Forest Park
New York City Academy of Discovery

Private Schools

St. Thomas the Apostle – Roman Catholic Elementary

Woodhaven, NY Real Estate Agent | Woodhaven, NY Short Sale Specialist

I today's market realtor are faced with buyers that either have no chance of quaalifying for a mortgage or abuyer that does not want to listen to the professional advice of a realtor.]

Short Sales and Foreclosures are playing a huge role in what is selling today.

Are you familar with the in and outs of the trade?

I believe that a good realtor is one that treats every custumer and client with honesty and respect. He must also follow the National Code of Ethics.

There is an alternative to Foreclosure... it's called the shortsale!!

Foreclosure:

• A foreclosure will ruin your credit and will be on your report for up to 20 years!
• Your are responsible for the difference on the amount of debt.
• A deficiency judgement on your credit.
• The sheriff puts you outside the home.
• Court settlement.
• Big attorney fees.
• Can't buy in again for 10 years.
• You pay the difference at the closing table (sometimes tens of thousands of dollars)

Advantages of a Short Sale:

• A shortsale can removed from your report after only 6 months!!
• A shortsale shows as a PAID IN FULL!!!
• Your credit is saved.
• Negotiated settlement.
• Bank pays your attorney fees.
• Bank pays violations on the home.
• Bank pays debts associated with passing a clean title.
• Can buy again in 2 years (maybe less).
• Your debt is eliminated.
• Bank pays your Realtors fee.
• UPDATE President Bush signs Mortgage Forgiveness Act (e-mail me to get your own copy).

Watch this Video

Not every loan will be negotiated as a shortsale by the bank. There are certain guidelines (every bank is different) Contact me and I'll help you if you qualify to do a short sale. ProRealtor@verizon.net

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/