On June 1, 2010 Fannie Mae and Freddie Mac announced full support of HAFA for loans owned or guaranteed through them. The program will begin August 1, 2010 and shares the HAFA Program’s projected expiration date of December 31, 2012. This announcement changed the existing condition preventing loans owned or guaranteed through the two government-serviced enterprises from being assisted through HAFA.

 

The Home Affordable Foreclosure Alternatives (HAFA) Program is a government-sponsored initiative overseen by the US Treasury Department and administered by Fannie Mae assisting all Home Affordable Modification Program (HAMP)-eligible homeowners in avoiding foreclosure. One of the requirements is your denial for a (HAMP) Home Affordable Modification Program,  Modification of your existing loan. HAFA is and excelerated short sale program being offered to help you avoid foreclosure. For more information and requirements please contact Jeff Morris of the Stewart Team…Jeff is a Certified Distressed Property Expert and fully trained on the procedures to follow in this program.

Some of the details: We will list your home and will than have 120 days to complete a short sale before the lender is able to foreclose on the home…The homeowner is also eligible for up to $3000 of moving expenses upon successful completion of the short sale. Contact us for more details…

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