Take an important step toward selling your home and avoiding foreclosure by participating in the federal government’s Home Affordable Foreclosure Alternatives (HAFA) Program. The HAFA program is an alternative in the event that you have not previously contacted your servicer for a loan modification.
The HAFA short sale process has standard form documents and defines timeframes to help with clear communication between the parties to the listing and sale transaction. Servicers must adhere to following guidelines in connection with the issuance of a Short Sale Agreement.
Frustrations and failure of lenders to respond to offers is why there was a push on the Treasury Department to impose some uniformity, uniform forms, and deadlines on the banking industry. Some drawbacks are that the new HAFA program does not take effect until April 5, 2010 and the HAFA program timelines/deadlines do not start to kick in until the servicer acts on a particular case to get the ball rolling.
If you are looking for some additional information try looking at this helpful handbook: www.hmpadmin.com/portal/index.jsp
The HAFA short sale process has standard form documents and defines timeframes to help with clear communication between the parties to the listing and sale transaction. Servicers must adhere to following guidelines in connection with the issuance of a Short Sale Agreement.
Frustrations and failure of lenders to respond to offers is why there was a push on the Treasury Department to impose some uniformity, uniform forms, and deadlines on the banking industry. Some drawbacks are that the new HAFA program does not take effect until April 5, 2010 and the HAFA program timelines/deadlines do not start to kick in until the servicer acts on a particular case to get the ball rolling.
If you are looking for some additional information try looking at this helpful handbook: www.hmpadmin.com/portal/index.jsp
RSS Feed