Despite rumors that Northern Virginia short sales are being approved and closed in 10 days it isn't true.   Since the introduction of a new government program Home Affordable Foreclosure Alternatives Program or HAFA on April 5, 2010 there has been a lot of misinterpretation of the guidelines by both buyers and sellers.

One of the first things you should do is call your lender. Not all lenders are participating in the new HAFA program. The next thing to do is read the OFFICIAL website for information on HAFA.

Making Home Affordable is the government site dedicated to providing you all of the information you need.

Be sure to check out the eligibility survey to see if you qualify for a loan modification under the Home Affordable Modification Program (HAMP)

If you search the internet you will find dozens hundreds of websites with information and misinformation about the program.  The document that introduced the HAFA program is 40 pages long and most people have not read the entire document.    Protect yourself by going to the official sources for information first.

Finally be careful not to be lured into scam suggesting you hire a third party for money to help you negotiate with your lender.  The government counselors do not charge to talk to you about your options.  Your lender will not charge you for discussing your situation and a reputable Realtor® will not charge you an upfront fee for listing your home.

Arm yourself with as much information as you can before you call an outside source to assist you.  It might save you thousands of dollars and months of worry.

Cindy Jones
Associate Broker
RE/MAX Allegiance
Direct: 703-346-2213
Fax: 866-694-9325

USAA Corner

Three ways to take the financial pain out of your next military move

USAA

If you're like the 700,000 military service members who are reassigned to new locations each year, you shell out an average of $1,725 for non-reimbursable expenses.

When you combine moving costs with the difficulty of uprooting your life every few years, relocations can take a big toll.  While some moving hassles are unavoidable, you can ease the financial pain of PCSing with a little advance planning.  Consider following this timeline for your next move:

What to do now:  Avoid budget blues

Whether your move is days or weeks away, develop a moving budget in advance to keep your finances on track and avoid last-minute costs.

Find out exactly what the military will cover, and what costs fall on you.  You can visit your family center for more information.

• Budget for shipping charges, temporary housing expenses, and start-up fees for utilities.

• Make a list of things you'll have to buy when you move in and estimate those costs.

• Use this budget to determine how much you should save for your next move.

What to do before you leave:  Prevent moving mishaps

Some moving horror stories result from damaged or lost property.  So it's critical to have the right levels of insurance before you PCS.  In the case of a moving mishap, insurance can mean the difference between disappointment and financial disaster.

• Find out how much of your personal property the government movers will insure.  If it's not enough to provide full protection, a temporary renters insurance policy could be an affordable way to cover the difference.

• If you're shipping a vehicle, review your auto insurance policy to find out if moving-related damages are covered.  If they're not, ask your insurer about purchasing shipment coverage.

• Put a plan in place to track your moving  expenses. Unreimbursed moving expenses can be an income tax deduction

What to do after you arrive:  Fine tune your finances

Once you settle into your new place, consider fine-tuning your finances to make your next move easier.  The stop-and-go that comes with a PCS - stopping everything and starting over again in a new area - can be a shocker to your finances.  Military members can find some relief by working with companies that "move with you" and serve your needs wherever you go.

Two Financial Moves to Make Before Heading Overseas

• Many countries don't allow foreigners to open new accounts or make new investments with U.S.-based financial services companies. So open your U.S.-based bank and investment accounts and set up periodic investment plans before you go. 

• Many phones in Europe, including those on will not allow toll-free calls to the U.S., so be sure to establish an Internet bank account and conduct your overseas business online.

Managing Your Move Online

• The United States Postal Service offers a change of address and a moving guide at usps.com.

• Check out buddingfamily.com for tips on moving with children.

• Visit milspouse.org for information on schools, cost-of-living comparisons, and other relocation resources.
  

• For more information, or to order a free PCS guide, visit usaa.com.