HAFA (Home Affordable Foreclosure Alternative) is a federal government program designed for homeowners who can no longer afford their mortgage payments and wish to avoid the negative impacts of foreclosure when home retention is not an option. Under HAFA, a homeowner can exit home ownership gracefully and without the liability associated with their mortgage debt.
The Benefits of a HAFA Short Sale:
• No Deficiency Judgments
• No Cash Contributions at Closing
• No Promissory Notes
• $3,000 to Seller for Relocation Assistance
• Additional Incentives for Second Mortgages, up to $6,000 more at closing
Eligibility Requirements for a HAFA Short Sale:
• Home must be or have been the primary residence in the last 12 months
• Seller must have a hardship
• First lien mortgage cannot be a government loan
• Mortgage originated on or before January 1, 2009
• Mortgage is delinquent or default is foreseeable
• Current unpaid principle balance is $729,750 or less
For more information about this program, please call me and I will help you better understand a HAFA short sale.
Office: 480-240-9724
E-mail: Info@AzExp.com
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