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It's Spring....Time For New Beginnings AND Real Help For Homeowners!!!!
As of April 5, 2010....HAFA began!!! Already, I have two short sale clients enrolled in the HAFA program and we're actually having much success!! It's interesting to note that 90% of mortgage servicers are participating in this program that provides a viable solution for troubled homeowners (owner occupant only - not available for investment property). The main focal points of the HAFA program are as follows:
 Available for those who are eligible for HAMP, but are unable to keep their current residence. Borrowers who previously enrolled in the HAMP program, but were unable to keep their mortgage payments or fell behind in two payments are eligble.
 Information previously provided under HAMP program can be used for HAFA.  Do you actually mean "information sharing" between two different banking departments???? Yippe Skippee!!!!
 Pre-Approved Short Sale Pricing and Terms. Now a publicized "pre-approved" short sale will ACTUALLY be pre-approved!!!! Sellers and Realtors will now know exactly how much servicers will take PRIOR TO LISTING!!!!
 Requires Full Release Of Debt for Borrowers. Yes!!! You heard me correctly, even secondary lienholders receive INCENTIVES to release borrowers from owing any deficient amounts!!!!
 Standardized Forms and Procedures.  No more guesswork on the policies and procedures of each individual ... more

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