The HAFA (Home Affordable Foreclosure Alternatives) program was created for borrowers who, even though they are eligible for HAMP (Home Affordable Modification Program) which is funded by the government, find they cannot stop foreclosure on their home or are unable to permanently obtain a loan modification. What HAFA does is provides these people with money and protection to borrowers who are eligible and have decided to go through with a Deed-in-Lieu of Foreclosure or even a Short Sale.
So how does this benefit the homeowner?
Any homeowners who qualify for HAFA are given an alternative equitable way in which to avoid foreclosure by going through with a Short Sale or the opportunity to give the property back to their lender – this is called DIL (Deed-in-Lieu of Foreclosure). The way in which the homeowner benefits from this is by getting:
Other key benefits include:
As long as you can meet all of the above criteria then applying for a HAFA is highly recommended.
Loan Modification Specialists has over 10 years experience of which thousands of Foreclosure cases have been prevented.
We can Stop Foreclosure. We can lower your payments and we have multiple alternatives to help you get your finances back on track. Get Started Today!
We take pride in knowing that we worked as aggressively and strategically as possible to ensure that our clients are protected. Our staff of foreclosure litigation and loan modification experts worked diligently with each and every client, ensuring that we have dotted our Is and crossed our Ts in every aspect throughout our relationship. Our network of supporters include industry experts such as real estate and mortgage brokers, private lenders, hard-money lenders, investors, auditors among others reinforce our processes by supplying us opportunities that overcome almost any obstacle.
This what makes makes us different and this is why we are successful.