How can a HAFA Short Sale help you? But first, what is HAFA? You can read below but to get a better understanding, you might want to watch this quick video. The Home Affordable Foreclosure Alternatives Program, known as HAFA, is designed to help owners (referred to below as borrowers) who are unable to retain […]
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Loan Modifications Continue
Loan Modifications Surpass One Million Mark for 2010 09/01/2010 By: Carrie Bay The industry has completed 1.13 million permanent loan modifications for at-risk homeowners so far in 2010, according to data released Wednesday by HOPE NOW, the private sector alliance of mortgage servicers, investors, mortgage insurers, and non-profit housing counselors. For the month of July […]
Owners Stop Paying Mortgages, And Stop Fretting For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but are in no hurry to get out of. Foreclosure has allowed them to stabilize the family business. Go to Outback occasionally for a steak. Take their gas-guzzling […]
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What is HAFA?
You’ve heard a lot of talk about HAFA, but what is it? In early 2009, the National Association of REALTORS® (NAR) urged the U.S. Treasury Department, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac to improve the short sales process. NAR’s concerns were first addressed on May 14, 2009, when the Obama Administration […]
Short-Sale Incentives Start April 5th Potential buyers of short-sale homes might consider waiting until April 5th before making a formal offer. That’s the date the federal government will begin offering lenders financial incentives to hasten the process. Under the new rules, banks will seek a BPO before the property is listed for sale and let […]