HAFA SHORT SALE PROGRAM CHANGES -STARTS FEB 1, 2013
On November 1, the Home Affordable Foreclosure Alternatives (HAFA) Program released upcoming changes: Home Affordable Foreclosure Alternatives Program - Policy Update.
These changes were made in order to better arrange the Home Affordable Foreclosure Alternatives (HAFA) Program with the adjustments made by Freddie Mac and Fannie Mae to their modernized short sale program.
Adjustments to the HAFA program will begin February 1, 2013, however, servicers may begin changing immediately.
The cover the following topics:
•HAFA Matrix
• Program Cut-Off Dateing
•HAFA Documentation
•Consideration of Borrowers Requesting a Pre-Approved HAFA Short Sale or DIL
• HAFA Affidavit
•Terms of Pre-Approved HAFA Short Sale
•Responding to a Sales Contract Subject to a Pre-Approved HAFA Short Sale
•Responding to a Sales Contract Prior to Pre-Approval of a HAFA Short Sale
•HAFA Affidavit
•Relocation Assistance
•Limitations on Resale
•DIL
•Investor Reimbursement of Subordinate Lien Release
•Report HAFA Affidavit
http://www.thecascadeteam.com/files/11/HAFA_Updates%20-%20Feb%202013.pdf
Click The Picture For A Quick Video About Hafa Program:
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