Changes to HAFA - Effective June 2012
Melissa always has great information on short sales. Below are details on the pending changes to the governments HAFA program.
I have a few clients currently participating in this program. If you have additional questions do not hesitate to call me at 608-921-8536.
Michael Collins
The Home Affordable Foreclosure Alternatives Program (HAFA) is a government-sponsored program aimed to provide additional alternatives to foreclosure. Aside from loan modification (the government’s HAMP program) and underwater refinance (the government’s HARP program), the Treasury has also provided options for distressed borrowers through short sale and deed-in-lieu of foreclosure.
Just like a small child that grows and changes, this program has also changed quite a bit since its inception just two years ago. In March of this year, the Treasury set out additional guidelines for short sale and deed-in-lieu of foreclosure through the HAFA program. Note that these changes are not required to be put into play by the mortgage servicers/participants until June 1, 2012.
Check out or download this handy chart in order to learn more about how HAFA (once a baby, and now a toddler) is going to be changing in a few short months.
HAFA Updates
Melissa Zavala
BROKER/REALTOR® ● DRE #01324959Search San Diego County Homes For Sale | Search Riverside County Homes For Sale
Southern California Short Sale Support | Short Sale Expeditor Negotiation ServicesIf you enjoyed this post, why not connect with me in these other communities?
Comments(2)