Tag Archive for Foreclosure

Home Affordable Foreclosure Alternative in City, State

The Home Affordable Foreclosure Alternative, which is also known as HAFA, is a cash back incentive for the qualifying homeowner after a short sale. The HAFA program offers ,000 cash back after a short sale to help homeowners with relocation expenses. This government sponsored program also gives incentives for lenders too opt for a short sale, while making sure the short sale process can be a little easier for the distressed homeowner.
The benefits that come with the HAFA program are a way to show homeowners they can avoid foreclosure and the government understands how frustrating it is too have to face the thought of losing your home, and would like to make sure homeowners can have a little more comfort after the short sale. For example, the homeowner will be released of all debt after the short sale, which means you will no longer be held accountable for the amount that falls short of what you still owe.
The eligibility requirements of a short sale include, living in the home, or have been living in the home within the past 12 months, a documented financial hardship, have not purchased a home within the last 12 months, first mortgage is less than 9,750, the mortgage was obtained before January 1, 2009, and the homeowner must not have been convicted of any type of felony within the past 10 years.
A homeowner should never have to pay for a short sale, and short sale services through a short sale specialist are 100% free! Having a short sale specialist alongside of your short sale could prove to be a gain in the short sale process. A short sale Realtor will inform you of the HAFA program and all other cash back incentives that are available to qualifying distressed homeowners.
The traditional short sale vs. the HAFA short sale, both offer experts that can help get you through your short sale for free.

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