Your Life A to Z: Your Experts
Real Estate
Housing Angels
1461 N. Dysart Road, Suite 102
Avondale, AZ 85323
602-745-1111
7655 E. Redfield Road, Suite 8
Scottsdale, AZ 85260
602-745-1111
Avondale, AZ 85323
602-745-1111
7655 E. Redfield Road, Suite 8
Scottsdale, AZ 85260
602-745-1111
Hours of Operation
- Monday - Friday:8:00 a.m. - 6:00 p.m.
- Saturday:10:00 a.m. - 3:00 p.m.
Avoid Foreclosure and Save Your Home
The Housing Angels program, launched by Dave Dziedzic of RealCore Realty, helps homeowners destined for foreclosure keep their homes by short-selling to an investor, leasing the home back to the homeowner for a few years and allowing them to buy it back at a set price. Most see the benefit of having a third party buy the home via a short sale, in which the bank takes a loss and it prevents the lender from having to foreclose.The program is good for investors who want to own a rental property because there already is a tenant living there with an interest in maintaining the home. For the people who get to stay in their home with an opportunity to buy it back, these investors really are angels.
The program features four different options for the homeowner:
- Halo Program – The underwater homeowner simply hires the broker to find a buyer and negotiate with the bank to complete a short sale.
- Silver Lining Program – The underwater homeowner completes the Halo Program and then signs a one year lease with no option to purchase the home. This results in immediate cash flow for the investor.
- Cloud 9 Program – The underwater homeowner completes the Halo program and then contracts with an “Angel” (Investor) and the broker to find another home in their price range and enters into the “Angel Program” described below.
- Angel Program – This ultimate program is when the underwater homeowner enters into the “Halo Program” and a separate contract to lease the property back for up to four years. The now tenant enters into a purchase contract with a formulated price and a four year exercise option.
For more information, please go to the Housing Angels web site or call us at 602-745-1111.
Frequently Asked Questions
- Who qualifies for a short sale in the Housing Angels program?
- A homeowner will qualify for a short sale in the following situations:
1) House is underwater, i.e. the homeowner owes more on the home than what it can sell for.
2) Financial Hardship such as a mortgage adjustment, job loss or drop in income or an unexpected increase in expenses (i.e. medical expenses).
3) Monthly expenses exceed income, the bank will require demonstration of financial hardship
4) Insolvency, the bank will want to confirm that the mortgage payment cannot be made - What is a short sale?
- A short sale occurs when the proceeds of a real estate sale fall short of the mortgage balance owed on the property. To facilitate a short sale, the lender agrees to discount an outstanding loan balance, usually due to an economic or financial hardship on the part of the mortgagor to allow a sale to occur. Negotiations are usually accomplished through communication with a bank's loss-mitigation department. The borrower sells the mortgaged property for less than the outstanding balance of the loan, and gives the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the mortgage debt. The lender must approve a proposed sale in advance for the sale to occur.
- How can I repair my credit in order to buy back my home?
- The Housing Angels hosts FREE Credit Repair seminars in their office, especially for those who have gone through a short sale or are in the process of a short sale. The next FREE Credit Repair seminar will be Saturday, June 25th starting at 10am at the Housing Angels Scottsdale Office at 7655 E Redfield Rd #8, Scottsdale, AZ 85260.
- When can I buy back the home and how can I save the funds to buy back my home?
- In the Housing Angels Program, the homeowner has up to four years to buy back the home. Also, the homeowner pays $100 each month into an escrow account. This helps the homeowner save $4,800 over four years for their down payment when they buy the home back.
- How much does the Housing Angels program cost me?
- The Housing Program costs the current homeowner absolutely nothing. Zero! Fees are paid by the Bank at the short sale and then fees are paid by the Investor when the house is sold back to the homeowner.
