HAFA: Sounds Simple, But the

Devil is in the Details

The Home Affordable Foreclosure Alternative (HAFA) progoam began on April 5, 2010.  The HAFA program has been proposed by the U.S. Treasury Department any most of the major lenders have agreed to aprticipate.  The intent of the program is to simplify and streamline the short sale and deed-in-lieu process.

While there are a number of attractive features of the program such as a 10 day short sale approval, removal of deficiencies against the borrower and the protection of real estate commissions.

Unfortunately, the directive spelling out the program is 45 pages long.  There are many twists and turns in the process that real estate professionals will need to understand.  Not all mortgages qualify, not all borrowers qualify and there are many parts of the program that can be impacted by investor requirements.

If you want a head start to understanding the HAFA program, this is the seminar for you.  The class size will be limited to allow for interaction with the seminar attendees so we can go over in detail that parts of the program that are of most concern to you. 

3 Minnesota Real Estate Continuing Education Credits have been approved