What is HAFA? This is a really good brief explanation. HAFA needs to be understood. It can almost be viewed as a stream line Short Sale. HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP are also required to comply with HAFA. A list of servicers participating in HAMP (including HAFA) is available at: www.makinghomeaffordable.com/contact_servicer.html.
HAFA: Home Affordable Foreclosure Alternative
– May 11, 2010Posted in: Uncategorized
