hafa: Let's Have Good 'Ole Honest Discussion About HAFA
- 09/25/12 09:54 PM
Let's Have a Good 'Ole Honest Discussion about HAFA. It seems customary these days to read a blog and perhaps members respond. However, sometimes it makes sense to turn it into a discussion in which the collective knowledge and experience of the members can benefit everyone. Sooo, I chose a frequently discussed, but little known four letter word…HAFA. I read a thread on another website and I replied to the thread. The person that posted it was horrified when I provided some details about HAFA. She had no idea about some of the “details”. Folks, this is a Federal program. Did … (0 comments)
hafa: Borrowers of Bank of America May Have Something to Smile About :)
- 05/27/12 10:32 PM
Borrowers of Bank of America may have something to smile about finally as 200,000 delinquent Borrowers to Receive Principal Write-Down Offers. Bank of America is wasting little time in getting one of the most popular terms of its recent settlement with the federal government underway. Bank of America sent out more than 200,000 letters this week to delinquent borrowers who where “thought to be eligible for principal-reducing modifications.” The requirements are simply that the homeowner owe more on the mortgage than the property is worth and have been at least 60 days behind on payments at the end of January 2012. … (4 comments)
hafa: Always Helps to Read the Fine Print
- 03/04/12 02:35 AM
Always helps to read the fine print. This is especially true with government documents. For example, on a HUD-1, we typically read the second page first!! LOL I wanted to point something out that is frequently overlooked in HAFA (Home Affordable Foreclosure Alternative) programs. The fine print in a HAFA transaction typically reads that if the lender rejects the HAFA short sale offer, the transaction AUTOMATICALLY converts to a Deed in Lieu (DIL)! For this reason, I have sellers execute a HAFA opt out form that is dated at the time of the purchase contract but not tendered unless … (6 comments)
hafa: FINALLY Government Recognition that Foreclosure Relief has Been a Disaster
- 06/03/11 10:20 PM
he Obama administration's inability to stem the foreclosure crisis ricocheted dramatically on Friday, as the Labor Department released unexpectedly low job-growth numbers that pushed the unemployment rate back over 9 percent. The jobs report comes on the heels of both a devastating report that found housing prices hit new lows in March and warnings from economists that the tumbling real estate market threatens to drag the economy back into recession. "The jobs numbers, they ain't pretty, man," economist Jared Bernstein told HuffPost. Bernstein left the Obama administration last month to join the Center on Budget Policy and Priorities, a highly respected … (3 comments)
hafa: Another Update on the Misguided, Hapless HAHA
- 04/08/11 06:00 PM
Yes, I am from Jersey and I am going to blog about HAFA...not Jimmy Hoffa but HAFA HAFA! LOL HAFA has largely escaped the sights of Republican members of Congress targeting current programs that they believe are draining taxpayer money and doing little, if anything, to help homeowners. It appears that the Treasury believes that business will continue as usual at least within HAFA, and some politicians have called other foreclosure-aid program termination bills “dead in the water” as the president has promised to veto any such bills that make it through both houses of Congress. Thanks to new updates to … (6 comments)
hafa: Politics, Hypocrisy, Confusion and the Fiscally Confused
- 03/17/11 08:32 AM
How did you know that this was going to be a political view?? LOL Lest there be any confusion, the Obama administration firmly stated yesterday that “President Barack Obama would veto a Republican-backed bill killing his signature mortgage foreclosure prevention program”. In a statement from the administration, it was stated that the Obama administration “strongly opposes” House action to eliminate HAMP” and that the president’s “senior advisors would recommend that he veto the bill”. While the efforts to terminate HAMP and other foreclosure prevention measures are largely a Republican initiative as they seek to weed out unnecessary spending in the federal budget, … (1 comments)
hafa: Failures of HAMP, HAFA
- 03/09/11 09:42 PM
Congress is considering pulling th eplug on several federal mortgage relief programs including the well-known, but little success HAFA. The program has fallen far short of the goals of providing relief for millions of home owners. The government faults teh klenders and the lenders fault the government. My experience is that qualified homesa and home owners have been denied relief under most federal programs because of a case of extreme federal hypocrasy. Many of teh denied losn are denied because the real party in interest...the "investor" is Fannie Mae and Freddie mac and the two federal agencies do not participate … (2 comments)
hafa: Loan Modifications and More lender B.S.
- 01/15/11 04:42 PM
There is a disturbing trend in (lack of) loan modifications. Lenders are now maintaining that they cannot modify because the "Investor" does not participate in HAMP, etc. REALLY...the lender received TARP funds and a requirement was that THEY help distressed home owners in exchange. So now they are claiming that they do not own the Note. REALLY again, THEY are the ones foreclosing and not the "investor". BTW, the "investor" is frequently Fannie Mae. So we have a situation in which lenders received TARP money; promised to help deserving homeowners and are now saying that they cannot participate in a federal modification program because an investor owns the Note … (3 comments)
Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
Let's Have a Good 'Ole Honest Discussion about HAFA. It seems customary these days to read a blog and perhaps members respond. However, sometimes it makes sense to turn it into a discussion in which the collective knowledge and experience of the members can benefit everyone. Sooo, I chose a frequently discussed, but little known four letter word…HAFA.
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