HAFA Short Sale Information

Orange County HAFA Information

What is HAFA?
HAFA stands for “Home Affordable Foreclosure Alternatives.” Under the HAFA short sale program, the government offers mortgage banks and loan servicers an incentive for approving homeowners short sale request.

How Does HAFA Help Me?
If you are in need of a short sale and qualify for HAFA it can be of great benefit to you. It allows the seller to receive up to $3,000 for incurred moving expenses upon completion of the short sale.

Who qualifies for HAFA?
HAFA Short Sales are only available for owner occupied properties. In addition, the unpaid balance owed to the bank must be less than $729,750. Finally, if you have 1 or more lenders, all lenders must agree to participate in the program. The lender(s) have a right to deny participation in the program on any file. As of now, HAFA expires Dec. 2012.

Do I need to Contact HAFA Directly to Qualify?
No…HAFA does not work directly with homeowners or sellers. You will still need to have your property listed for sale. We are experts at the short sale process and the HAFA program and ensure that all who qualify receive the HAFA benefits.

The HAFA program is designed to streamline the short sale process and
offers financial incentives to both homeowners and mortgage banks to
encourage this type of resolution versus foreclosure.?

A Quick HAFA Overview
* Starts April 5, 2010
* 1st Lien Mortgages/Non-GSE Mortgages
* Financial incentives provided to borrowers, servicers and investors
* Sets limits on lender response time
* Lender forfeits ability to pursue deficiency judgment
* Limits claims of subordinate lenders

Requirements
* Mortgage is delinquent or default is reasonably foreseeable
* Property is borrower’s principal residence
* Owner’s monthly housing expense exceeds 31% of their gross income
* Current unpaid balance is equal to or less than $729,750
* Loan is a 1st lien mortgage
* Originated before Jan 1, 2009

Benefits
* $3,000 to Borrowers for relocation costs at close of escrow
* $1,000 to Servicers for administration and processing fees
* Servicer may not charge borrower any fees and MUST pay all expenses
* $1,000 to Investors for subordinate lien holder payoff

We specialize in helping Orange County homeowners avoid foreclosure using a short sale. Our expert negotiators have a proven track record of success with a 95% success rate! All of our short sale services are absolutely FREE to sellers.

To Determine if qualify for a short sale of your home complete the form
below to receive your FREE Over-The-Net Short Sale evaluation
or give us a call today so we start helping you tomorrow! 949-607-8999

peuterey outlet online peuterey outlet online peuterey outlet online peuterey outlet online peuterey outlet online peuterey outlet online woolrich outlet online woolrich outlet online woolrich outlet online woolrich outlet online woolrich outlet online woolrich outlet online golden goose pas cher golden goose pas cher golden goose pas cher golden goose pas cher golden goose pas cher golden goose outlet online golden goose outlet online golden goose outlet online golden goose outlet online golden goose outlet online
Please Register To View Details
Are you working with a Realtor? Yes No
Register Now
Why register? When you register, you will have the ability to save your favorite properties, leave comments, and save searches to update you when new listings hit the market. Use our powerful search tool for free
Don't worry, we hate spam as much as you and would never share your information or send you unsolicited email.
Close