20
Apr
Home Affordable Foreclosure Alternatives Program
home foreclosure help
The new Home Affordable Foreclosure Alternatives Program (HAFA) developed by the Treasury department. Designed to simplify and streamline the use of short sales, the expected benefits of HAFA include: allowing borrowers to receive preapproved short sale terms before listing the property; requiring borrowers to be fully released from future liability for their first mortgage debt; and the use of standard processes, documents and deadlines in the short sale process.