Uncle Sam May Pay You to Sell Your House
Created in 2009, the Home Affordable Foreclosure Alternatives Program (HAFA) assists eligible homeowners to avoid foreclosure, specifically through short sales or deeds-in-lieu of foreclosure.
Purpose of HAFA
HAFA’s goal is to help homeowners avoid foreclosure and help ease the transition out of a home
- Structured timeline on the short sale process, eliminating delays
- Cash incentives to the homeowner and the lender, upon completion of a successful short sale
Benefits of HAFA
- Provides additional options for homeowners who can’t complete a loan modification
- Eligible homeowners may receive $3,000 in financial incentives, called “Relocation Assistance.”
- Guidance and assistance from licensed real estate agents and HUD-approved housing counselors
- Releases homeowners from future liability or deficiency judgments
- Creates uniform guidelines and time frames, resulting in a higher likelihood of success for the short sale
- Mortgage company partners with the homeowner to determine an acceptable asking price
Who is Eligible for HAFA?
If you or someone you know is facing foreclosure and is interested in HAFA, the best course of action is to contact a real estate agent specifically trained to handle distressed properties.
Download our special report for more information, including general qualification criteria for HAFA.
Each month we publish a special report just for distressed homeowners. You can always see the current report by visiting ForeclosureOptionsToday.com and see all the archives at the Resources tab. We’re here to help.