HAFA Program - Home Affordable Foreclosure Alternatives
As part of the Making Home Affordable plan, President Obama's administration
announced new incentives to home owners who are in a financial hardship. Set
in place by the U.S. Treasury, these new incentives and guidelines offer
renewed hope to struggling home owners.
While home owners receive $3,000 cash back at closing to go towards relocation
costs, they also benefit in other areas. Through HAFA, lenders are given a certain
time frame in which they are required to respond to a short sale offer; making the
process quicker. Best of all, HAFA requires that lenders completely forgive home
owners of the debt that remains after the sale. To sum it all up, home owners who
qualify for HAFA receive $3,000 in cash, a quick sale, and freedom from debt!
In order to qualify for HAFA:
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The loan must be the first mortgage
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The borrower must be behind in payments or can see they will be soon
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The property must be where the borrower resides
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The loan must have existed before January 1, 2009
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The remaining balance on the loan must be less than or equal to $729,750
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The monthly payment on the loan must be more than 31% of the borrower's gross income
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The HAFA Program is not for everyone. Most likely, the program will accept home
owners who do not qualify for a trial loan modification or who request a short
sale. Also, HAFA is fit for borrowers who failed to successfully complete a trial
loan mod or who missed two or more consecutive payments during the trial.
Call today or fill out the form below to find out more about HAFA. Our Short Sale
Specialists are all knowledgeable in the area of the HAFA Program and are waiting
to help you at no cost! Whether you are ready to sell right away or maybe you just
want a little advice, do not hesitate to call!
877-737-4903
HAFA Forms:
HAFA Short Sale Agreement (SSA)
HAFA Request for Approval of Short Sale (RASS)
HAFA Alternative Request for Approval of Short Sale
HAFA Deed in Lieu for Foreclosure Agreement
HAFA Data Dictionary
HAFA Form 4506-T Request for Transcript of Tax Return
HAFA Hardship Affidavit
HAFA Request for Modification and Affidavit (RMA)
Need a Palm County Florida Distressed Property Expert Certified in short sales to offer free Chase short sale services? Our Palm County area Distressed Property Expert Certified real estate agents are here to help, and are Certified or training in the Florida Home Affordable Foreclosure Alternatives, or HAFA Government short sale program.
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