What is HAFA?
Initially announced on May 14th of 2009 with guidance and standard forms issued November 30, 2009, the program will help owners (borrowers) who are unable to retain their home under the Home Affordable Modification Program. The legislation for this program went into full effect on April 5th 2010.

If you or someone you know are finding it hard to afford your mortgage payment you may be eligible for a HAFA short sale and avoid foreclosure.

Home owners who are not able to make their current monthly mortgage payment or soon will not be able to make those payments may also be eligible for a loan modification through the Home Modification Program HAMP. 

Who is eligible for HAMP?

• Principal residence
• First lien originated before 2009
• Mortgage is delinquent or soon will be
• Unpaid principal balance is no more than $729,750  

Who is eligible for HAFA short sale program?

• Principal residence
• First lien originated before 2009
• Mortgage is delinquent or soon will be
• Unpaid principal balance is no more than $729,250  
• Borrower was not able to modify their loan through HAMP
• Borrower was not able to complete HAMP trial period
• Borrower does not wish to modify their loan & wants to sale the home
• Borrower's may be eligible for up to $3,000 for relocation
• Borrower relocation does not need to be tied to employment
• Borrower may have moved out of residence up to 12 months prior

As your local CDPE for the area, contact me for an evaluation of your individual situation, property value, and possible options.

 As always, our meeting will be CONFIDENTIAL and NO OBLIGATION!

(602) 348-8534

Justin@AZREAdvisors.com 

Understanding your options now could mean all the difference in the world.