Real Estate Investors - could this be the answer to the lack of REO’s
and Foreclosures on the market right now ?
With the Home Affordable Foreclosure Alternatives (HAFA) program kicking off in two weeks, servicers are making their final preparations for the oncoming wave of short sale requests.
The US Treasury Department will launch HAFA on April 5, 2010. The program will provide incentives to servicers that provide short sales and deeds-in-lieu of foreclosure for borrowers who failed a modification through the Home Affordable Modification Program (HAMP).
A short sale agreement between the borrower and the servicer under HAFA expires after 120 days.
