What is HAFA?
The HAFA program was designed to help people that borrowed money to buy a home and now they find themselves owing more on the mortgage than the home is worth. This program was to assist the borrower that is in default or distress and is no longer able to make the mortgage payments. Fannie Mae has created some guidelines to qualify for this program. Many borrowers have a ton of questions about the program, therefore Fannie Mae has created a frequently asked question document that addresses most of the questions. Don Vallee-Certified Distressed Property Specialist in Tucson Arizona
A short sale, also known as a pre-foreclosure sale, is the sale of a property for less than the balance remaining on the mortgage loan secured by the property. With a short sale, the mortgage lender agrees to release its mortgage lien on the property when it receives the proceeds of the sale of the property, even though the proceeds are less than the mortgage loan balance. Benefits to you may include:
With a DIL, you voluntarily transfer ownership of your property to your mortgage lender to satisfy your Loan. Benefits to you may include:
Avoiding foreclosure
Satisfying the outstanding balance on your Loan
Receiving a cash payment in the amount of $3,000 to use toward moving or other expenses
Qualifying to lease the Property at a below-market rate rental for up to 6 months with a possibility of extending the lease for an additional 12 months at market rate rental
If You Are Interested In Learning Hw To Avoid Foreclosure—Respond Today! Call Don at 520-544-5555
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