Learn how the HAMP and HAFA program is helping homeowners struggling with their mortgage
By Lorenzo M. Wooten, Jr.
(KELLER WILLIAMS PREFERRED PROPERTIES)
With one in six homeowners struggling to make mortgage payments, there is someone you know who could use this information! The Obama Administration’s Making Home Affordable Program includes opportunities to modify or refinance your mortgage. It also includes the Home Affordable Foreclosure Alternatives Program (HAFA) for homeowners who are interested in a short sale or deed-in-lieu of foreclosure. MAJOR HIGHLIGHTS OF THE NEW HAFA PROGRAM: * HAFA was introduced to simplify and streamline the short sale process. HAFA accomplishes this in the following ways: · Compliments HAMP by providing viable alternatives for borrowers who are HAMP-eligible · Uses standard processes, documents and timeframes · Requires that borrowers be FULLY RELEASED from future liability for the debt · Utilizes b...
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