HAFA - Home Affordable Foreclosure Alternative Program

By
Real Estate Broker/Owner with Equity First Realty VA BKR# 0225058489

 

 HAFA - Home Affordable Foreclosure Alternative Program

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.

HAFA Program to Homeowners:
How HAFA Can Help You. . .

The Home Affordable Foreclosure Alternatives (HAFA) Program was designed in addition to the the Home Affordable Modification Program (HAMP) 

Most homeowners were unable to take advantage of the HAMP program to modify their loans and the foreclosures kept coming and coming. . .The government stepped in and created the HAFA Program

When a borrower applies for a loan modification and they simply can not afford the payments. .HAFA is for you

If the loan modification terms are unacceptable to the homeowner. . .HAFA is for you

If you were accepted into the HAMP program and you have missed payments already during your trial period. . HAFA is for you

Before HAFA, these borrowers simply were usually headed for a foreclosure.

HAFA gives you a viable alternative to foreclosure. 

The homeowner must request an approval for a short sale. . 

Read who can qualify for a HAFA Short Sale 

HAFA also imposes limits on the lender to help the borrower. Under the terms of this program, a lender must release the borrower from all future liability for the first mortgage debt. The lender may not ask the borrower for cash or a promissory note, and the lender may not ask a court for a deficiency judgment. 

All the documents have been standardized and procedures, time frames, and deadlines have been streamlined under HAFA to make the process smooth and easier for both borrowers and lenders.

HAFA also will provide a $3,000 incentive for Relocation Costs to the homeowner

Read about the $3,000 HAFA incentive here.

Participation in the HAFA program is not a right but a privilege. . .

You will need the services of a well informed Realtor experienced in short sales to help you during this complicated process.

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

Please contact Marcus for a free consultation and we will work with you to either help you save your home or sell it.

WWW.RICHMONDVAHOME.COM for more info or call 804-545-6412

 

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The Marcus & Tonya Rice Team specializes in Richmond, Va, Henrico County, Chesterfield County, Powhatan County, Hanover County, Petersburg, Colonial Heights, and Fort Lee Homes and Real Estate for sale. We are tech savy realtors with over 11 years experience. Please join us on our Social Networking Network to stay up to date on Richmond Virgina real estate news and more...

The Marcus & Tonya Rice Team can be reached at 804-247-8187 or remaxrice@live.com  

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The Marcus & Tonya Rice Team
Remax Leading Edge

4333 Cox Road
Richmond, Va 23060

Call Marcus or Tonya at 804-247-8187
Office 804-545-6412

www.richmondvahome.com
by email: remaxrice@live.com
or visit: www.homesellersbailout.com

Certified Distressed Property Expert

Posted by

Marcus E. Rice - Principal Broker, CDPE

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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Marcus and Tonya HAFA sounds like a great alternative for  someone having difficulty paying the mortagage.

Great consumer post.

Sep 20, 2010 04:34 PM #1
Rainmaker
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Marcus Rice
Equity First Realty - Richmond, VA
Your Richmond & Northern VA Real Estate Broker

Thanks for your comments Jennifer, anything to streamline the short sale process......

Sep 20, 2010 05:10 PM #2
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Marcus Rice

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