SHORT SALES WITH HAFA: THE PROGRAM WILL DENY YOUR APPLICATION IF YOU. . .
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.
HAFA Program Denials . .
AVOID THIS AT ALL COSTS . .
The Home Affordable Foreclosure Alternatives (HAFA) Program was designed for people that request to be included in this program and qualify .
HAFA is definitely a great option when you have exhausted all you options even after a loan modification attempt.
If you get accepted into this program, you must follow strict guidelines that must be follow & still be eligible.
FOUR CAUSES OF TERMINATION FOR YOUR HAFA APPLICATION:
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If the borrowers financial situation improves. . .it must be reported to your lender.
- Borrower fails to market the property with the services of a Realtor.. . or PREVENT THE SALE
- If there is a significant change in value of the subject property
- Misrepresentation or fraud
With HAFA, the homeowner is also entitled to a $3,000 relocation costs
HAFA is for you when you simply can not afford your house anymore and a foreclosure is eminent
"Maryland and Virginia Homeowners could benefit with the new HAFA Program"
In case you are wondering. .
What is the difference between a foreclosure and a short sale using the HAFA Program?
In a short sale with HAFA you SELL YOUR HOUSE and you owe the lender nothing!
In a Foreclosure.YOU LOSE IT ! and you get a deficiency judgment filed against you*
Click on my eBook about Short Sales to have a clearer vision if you could use a SHORT SALE in order to begin a new fresh start.. .you must have a hardship to qualify.
Fernando Herboso is a Certified Distressed Property Expert
and also 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
If outside our area. ..we can guide you to a local true professional that cares and loves helping people avoid
foreclosure as much as we do!
Just give us a call or email to Fernando@Herboso.com
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"Afford" is a fungible word. I'm not sure what it means any more.
What is not "affordable" to a borrowers may not be so to a lender.