HAFA program-

HAFA program-The huge numbers
of foreclosures in the US is simply too big to ignore. That is why a government-backed program has been released that aims at streamlining the short sale process.

Short sales are honorable solutions to foreclosure, and now the government is making them easier, quicker and more accessible through the Home Affordable Foreclosure Alternatives Program, or HAFA.

With one in seven homeowners struggling to make loan payments, distressed homeowners are not alone, and there are Home Foreclosure Alternatives available.

Here are some Bullet Points on the HAFA Short Sale program.

HAFA Eligibility

At present, the home owner is eligible if all the following HAFA rules are met:

• • Property is borrower's principal residence
• • Loan is a 1st lien mortgage
• • Originated before Jan 1, 2009
• • Mortgage is delinquent or default is reasonably foreseeable
• • Current unpaid balance is equal to or less than $729,750
• • Borrower's total monthly mortgage payment exceeds 31 percent of borrower's gross income
• *information taken directly from HAFA

Short sale relocation assistance for the Distressed Home Owner

• $3,000 to Borrowers for Relocation Assistance

Is your lender participating in the HAFA assistance program? Lenders and loan servicers participating in HAFA program must sign a participation agreement with Fannie Mae to participate in HAMP by October 3, 2010.

The list of lenders that are participating is constantly growing, please contact us for the most recently update list (there is no fee or charge).

Cities we cover:Beverly Hills short sale assistance, Burbank help with foreclosures ,Canoga Park short sale help-,Culver City short sale Realtor, Down Town Los Angeles, Echo Park short ,Encino-short sale assistance, Glassell Park short sale Realtor, Glendale foreclosure help ,Granada Hills short sale assistance, Hollywood short sale Realtor- Los Feliz short sale listing agent- Mt. Washington short sale Realtor, North Hollywood help with foreclosures- ,Pasadena short sale help ,San Fernando Valley help with foreclosures ,Sherman Oaks short sale assistance, Silver Lake short sale listing agent, Studio City short sale listing agent ,Tarzana short sale Realtor, Toluca Lake short sale listing agent-Avoid Van Nuys help with foreclosures, West Hollywood short sale Realtor, Winnetka short sale assistance,

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