Tagged : HAFA Program 
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Sellers: How the HAFA Program can help with Short Sales
Monday, March 7th, 2011 at 3:15pm. 537 Views, 0 Comments.
The Home Affordable Foreclosure Alternatives (HAFA) Program is a program designed for sellers that are upside down in their house. This program is for those folks that have contemplated selling their home as a “Short Sale” rather than allowing for foreclosure. So how does it work?
The benefit of this HAFA program is that you would no longer be responsible for the difference between what you owe on your mortgage and the amount that your home sells for. You see, in South Carolina, most banks would order a deficiency judgment against the borrower for the difference in what the home sells for, and what is owed. The HAFA program would be the contrary. Sellers would also receive $3,000 at closing as an incentive to selling as a short sale, as opposed to…
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