THE (HAFA) PROGRAM IS NOT A TOOL FOR A STRATEGIC DEFAULT

By
Real Estate Broker/Owner with Maxus Realty Group - Broker 301-246-0001 Broker - Realtor - CEO

THE  (HAFA) PROGRAM IS NOT A TOOL FOR A  STRATEGIC DEFAULT

HOME AFFORDABLE FORECLOSURE ALTERNATIVES (HAFA) PROGRAM HAS BEEN IMPLEMENTED TO ASSIST HOMEOWNERS IN DISTRESS.

short sales marylandIn case you are wondering if you can use the "HAFAProgram for a strategic default on your upside down property ?

  {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.

Looking at homeowners options to sell a home is difficult when their home is worth a lot less than is owed on the mortgage.  Many homeowners have decided that being upside down in a home is not worth it, they decide to stop paying the mortgage and  simply they just. . . want out from a bad mortgage

This is known as Strategic Default.

Unfortunately the HAFA program will not be able to help homeowners seeking a strategic default because of one simple reason. . You have to qualify to be allowed in such a program.

Basically you need to prove to them that there is a true hardship and not just an unhappy borrower with a bad mortgage.

"Maryland and Virginia Homeowners could benefit with the new HAFA  Program"

short sales maryland
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*

 

short sales maryland

 

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.

 

RealtorFernando Herboso is a Certified Distressed Property Expert 

 

Short Sales Maryland
and a Gold Member Certified Default Resolution SpecialistTM with (CDRS)

 

 

short sales specialist
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 me a call or email  to Fernando@Herboso.com

 

More about short sales in Maryland using the HAFA Program

 

* Depending in the state you live in. . in Maryland the lender will file a petition to the court for a deficiency judgment against the homeowner.

 

 

Short Sales Maryland , DC and Virginia

 

 

 


 

 

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Rainmaker
4,431,983
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for the information. There is a lot of confusion about the program.

Apr 06, 2010 11:06 PM #1
Rainer
60,622
Pam Turner, REALTOR®, e-PRO®, SFR
Century 21 Belk Realtors Dalton GA - Dalton, GA

Thanks for the info -- this program isn't going to work for most people it seems.

Apr 06, 2010 11:48 PM #2
Rainmaker
1,817,531
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Clear cut answer !!!!!!!! There are many out there that want to walk away from an unwinable situation !

Apr 07, 2010 04:56 AM #3
Anonymous
rogger.bank

sangambayard-c-m-com

Apr 07, 2010 05:30 AM #4
Rainmaker
1,045,227
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

It will be interesting to see what happens with strategic defaults now that Fannie Mae strikes against strategic defaults.

Jun 26, 2010 05:06 AM #5
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Fernando Herboso - Broker for Maxus Realty Group

301-246-0001 Serving Maryland, DC and Northern VA
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