Saw a cartoon yesterday in the paper. Fellow is commenting the stock market is up and then adds, “Now I just need a job.” Feels like that sometimes in real estate too. Folks running around saying the market is up, but you still need to sell because the banks are talking foreclosure and catching up is no longer an option. When this is the case – and it happens to the best of us – you want to know about the government program, HAFA.
HAFA: Home Affordable Foreclosure Alternatives
HAFA offers banks and home owners a way out of a foreclosure through a negotiated short sale. The owner does surrender the deed and lose the house, but avoids the penalties of a foreclosure. Foreclosure’s worst effect is ruining your credit for seven years. A short sale will allow you to reclaim your credit rating in half that time.
HAFA offers incentives to service providers (banks) and owners to make the best of a bad situation. I have personally had clients receive thousands of dollars to cover moving expenses and damage deposits on their new housing. The legislation, adopted in 2009, has motivated lenders to move in a uniform direction, creating standards for short sales. And consumers, already faced with the loss of their house have benefited.
SOS and HAFA
I have a dedicated servicing company I use on a regular basis. Kimberly is an expert at helping with the constant contact that service providers demand in a short sale. She has a great system in place to make certain we have the necessary information before we contact the bank or public trustee or sheriff’s office. If you find yourself in need of a Realtor, I’m experienced in short sales and help you navigate the transaction successfully. I’m here to help, so give me a call at 303-443-3334 and lets talk about your situation. HAFA could be a good solution.