MISCONCEPTIONS ABOUT THE (HAFA) PROGRAM . . CASH FOR KEYS?
HOME AFFORDABLE FORECLOSURE ALTERNATIVES (HAFA) PROGRAM HAS BEEN IMPLEMENTED TO ASSIST HOMEOWNERS IN DISTRESS.
Home Affordable Foreclosure Alternative
The HAFA Program became effective April 5th 2010, servicers may participate immediately, or as soon as is practical. The primary options available through HAFA include Short Sale and Deed-in-Lieu of Foreclosure.
Just because this program pays the homeowner $3,000 relocation expenses at closing does not mean that the HAFA Program is a CASH FOR KEYS directive.
A traditional short sale or a HAFA short sale and Deed in Lieu Of Foreclosure are still the last 2 OPTIONS a homeowner must choose before losing their homes to a foreclosure.
You must (at all costs) seek a modification on your loan first. . . the Government is not in the business of helping the banks, the HAFA Program is for the homeowners in distress that have exhausted all possibilities in saving their homes and they are now in the path of a foreclosure.
The two options are. . .
- Short Sale
- Deed In Lieu Of A Foreclosure
The HAFA Program short sale is the best option for the homeowners now. .
It gives them $3,000 and it completely eliminates a deficiency judgment from the shorted amount after they sell their home.
and a Gold Member Certified Default Resolution SpecialistTM with (CDRS)
You can call (Fernando Herboso) directly @ 240-898-1848 ext #1 or email : Fernando@Herboso.com
We can help you directly in Maryland, DC or Virginia
More about short sales in Maryland using the HAFA Program