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Old 04-01-2010, 04:27 PM
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Default Home Affordable Foreclosure Alternatives

To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. is a program that will be rolled out for homeowners on April 5, 2010.
The To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. is a directive from the United States Treasury Department for borrowers that do not qualify for HAMP, does not accept the HAMP Program or fall out of the HAMP Loan Modification Program.
The To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. (HAFA Program) was created as a supplemental directive to the HAMP Program that will pay homeowners and servicers incentives for doing a Short Sale or Deed-in-Lieu.* The short sale option is one we assist homeowners around the nation and have contacts to be sure your case is handled by professional realtors. Both the Short Sale and Deed in Lieu of Foreclosure are alternatives to stop foreclosure and the length of time a servicer has to endure not to mention the expenses. The To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. will help to preserve the home values by shortening the time a property is vacant and will reduce the opportunity for vandals to enter the property. The short sale option also provides a better outcome than a foreclosure sale for homeowners and servicers.
Contact us for by clicking the link To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. or call 877-968-5337. We work with trained professionals that understand the foreclosure process and it cost homeowners nothing the banks pay for the service.
Home Affordable Foreclosure Alternatives requires participating servicers (lenders) to develop a written policy that will define the scope and make a determination on with whom and how the plan will be implemented. There are certain factors to take into account the amount of loss the servicer will be taking, the conditions of the local market, how the borrower has been in the past to work with and how much time before the foreclosure sale date.
A servicer is required to try to qualify homeowners for the HAMP Program (retention) before the HAFA Program is taken into account. The servicer must utilize every retention option including setting up for a Trial Loan Modification Program before they are evaluated for the To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily..
Basic criteria are:
  • The mortgage is in default or an imminent foreclosure situation
  • Must be primary residence
  • The loan must have originated before 1/1/2009
  • the UPB (unpaid principal balance) must be less than $ 729,750.00
  • the mortgage payment (including taxes and insurance) must be over 31% of gross income
Contact us for help, we can assist with the To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.. We understand the plan.


To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.

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