what is hafa: Options for Distressed Homeowners
- 11/19/10 07:26 AM
Many of homepowners who are at risk of default or who have defaulted on their mortgage believe that foreclosure is their only solution. The short answer is "no", there are there other options available.
We have listed 6 other options available for Distressed Homeowners below, how can we help you? 1. HAFA:The acronym for Home Affordable Foreclosure Alternatives. It is a fairly new government program to help homeowners avoid foreclosure. HAFA provides for lenders and homeowners to carry out a short sale or deed-in-lieu of foreclosure. An incentive has been established for homeowners of $3,000 for a successfully completed short sale or deed-in-lieu of foreclosure. … (3 comments)
what is hafa: What is H.A.F.A.? Understanding the Facts
- 05/25/10 06:30 AM
What is H.A.F.A.? Understanding the Facts HAFA is the latest government program to help homeowners who are in a financial crisis sell their homes in order to avoid foreclosure. H.A.F.A. stands for Home Affordable Foreclosure Alternatives; in a nutshell it is the process of a participating lender "pre-approving" the terms of a short-sale and allowing borrowers the opportunity to sell their home while agreeing to fully release them from all liability. The key difference with this new program is that an agreement between the borrower and the mortgage servicer is mutually decided upon (a pre-approval to sell) before the house gets … (3 comments)
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Many of homepowners who are at risk of default or who have defaulted on their mortgage believe that foreclosure is their only solution. The short answer is "no", there are there other options available.
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