modification: HAFA Short Sale Approval Criteria - 07/01/11 03:08 PM
In an attempt to reduce the increasing number of foreclosures, the U.S. Treasury Department introduced a new federal program last year help to streamlines the short sale process.  The program is designed to help home owners who can no longer afford to keep their homes.
The Home Affordable Foreclosure Alternatives (HAFA) program began on April 5, 2010.  It is currently set to end on December 31, 2012. HAFA is designed for homeowners who have applied to the Home Affordable Modification Program (HAMP) for assistance, but have not had a success result with their loan modification program. Federal rules require servicers participating in HAMP to implement HAFA. For homeowners … (0 comments)