Homeowner Benefits of HAFA Program

Compared to traditional short sale process:

Quickest option for a short sale decision when there is no offer.

Faster decisions: in 10 business days once an offer is submitted.

A pre-approved list price is provided before listing the home.

Deficiency is waived.

The mortgage debt will be settled through the program.

No legal action can be taken on/against the outstanding mortgage debt.

$3,000 at closing for relocation assistance.

No cash contribution or promissory note required to release any lien.

Foreclosure process put on hold subject to specific conditions.
When should homeowners consider the HAFA program?

During initial discussions of alternatives to avoid foreclosure.
•The homeowner wants to sell the property and a short sale is required due to equity position or market conditions.

Before or after a short sale offer is received.