FREE information about HAFA...

HAFA GUIDELINES

In 2009, HAMP (Home Affordable Modification Program) introduced the HAFA (Home Affordable Foreclosure Alternatives) guidelines. The guidelines officially became effective April 5, 2010.

Here are some bullet points about the HAFA (SD-09) GUIDELINES:

The lender must be participating in HAMP in order to offer the HAFA initiatives. Be sure to ask the lender if they are participating.
The property must be the seller’s primary residence and should be owner occupied
The loan must be a first lien note that originated prior to January 1, 2009
Lender may offer up to $6,000 for any subordinate liens (ie second liens, jr liens updated) with a max of 6% of the original balance.
The seller’s monthly mortgage payment must exceed 31 percent of their gross income
Real estate commission is 6% - lender cannot negotiate down the commission
Upon successful completion of the short sale the seller will be entitled to a relocation incentive of $3,000 (originally was $1,500)
Seller must agree to maintain the property during the sale

More FREE information about HAFA...

You can get a free copy of the complete HAFA Guidelines below:

Email me at Shirleybrass@cox.net for the HAFA Guidelines PDF download

Call me now for a free consultation and we can discuss the options that are available to you. Most debt relief options are at NO cost to you! We have the experience and knowledge necessary to help you achieve a workout solution with your mortgage company. We are ready and willing to help you now!

Please call now if you are in a situation in which we can help!

Shirley Brass

702-592-8207