HAFA is big news
The HAFA program is big news now. It stands for Home Affordable Foreclosure Avoidance. Distressed Properties and foreclosures have been in the news for quite a while now. This program streamlines the short sale and Deed in Lieu process.
HAFA can give the homeowners up to $3,000 in relocation assistance. The servicer (read bank) will receive $1,500 to comply with this government program. Before, we were concerned with the bank going after the balance owed after the homeowner gave up their home. HAFA ensures that this will not happen.
We have been helping distressed homeowners in Louisville, KY and keep current with our CDPE designation and breaking news.
There is a short video on YouTube that explains what HAFA means.
There is also a very informative website at http://www.cdpe.com/hafa that goes into detail about all aspects of HAFA including even more links from major lenders.
Feel free to contact us with any questions.