Archives for March 2012

Big Changes Coming to HAFA

It was announced on March 9, 2012 that the Home Affordable Foreclosure Alternative (HAFA) program was extended until the end of 2013.  Along with this extension come several huge changes that will benefit homeowners and allow for more participation in this program.

 

  • Occupancy Guidelines Waived
  • $3000 to seller even if tenant occupied
  • Up to $8500 to subordinate lien
  • Qualify even if current on payment
  • Credit reported as Paid in Full
Please note that I have not officially verified this information.  www.makinghomeaffordable.gov has not been updated to include this information.  I received this news from Alex Charfen of CDPE.

Let’s elaborate on these changes.

The first 2 changes mean that…