There are so many acronyms flying around out there that it can be confusing if you don't use them all the time. So, I have taken a few that show up fairly often to help out our non-professionals and professionals alike who read these blogs.

MHA - "Making Home Affordable" program introduced by the Obama Administration on 2/18/09

HASP - "Home Affordability and Stability Program" - Program under MHA for stabilizing home ownership. 

HAMP - "Home Affordable Modification Program" program under MHA for modifications. Servicers              enter into a contract with MHA and are offered incentives to do loan modifications.

HPDP -"Home Price Decline Protection" program that includes incentives to support modifications in markets hardest hit by falling home price.

HAFA - "Home Affordable Foreclosure Avoidance" program for Short Sales/Deeds-in-Lieu

USPAP -"Uniform Standards of Professional Appraisal Practices" - Appraisals need to be performed in accordance with USPAP under these programs

SS - Short Sale- In a short sale the servicer allows the borrower to sell the property at its current value, even if the sale nets less than the total amount owed on the mortgage.

DIL - "Deeds-in-Lieu" The lender agrees to take back the deed rather than foreclose on the property.  Typically a short sale needs to have been attempted before this option is available.

CDPE -"Certified Distressed Property Experts" a designation aquired through training that includes understanding of the new MHA programs.

Hope this helped someone wondering what that acronym means.  But remember it takes more than a designation behind your name or knowing the meaning of an acronym to be an "expert".  It takes experience!  Always check references on any professional you intend to give your business to!