The Home Affordable Foreclosure Alternatives - Short Sale and Deed-in-Lieu of Foreclosure (HAFA) is a supplemental program to the Home Afffordable Modification Program (HAMP) that was started last year with the goal of decreasing the number of home foreclosures in the US.
The goal of HAMP was to help home owners stay in their homes with loan modifications. The goal of HAFA is to standardize the short sale and deed in lieu process between home owners, lenders, loan service companies (banks), real estate agents, title companies, and any other agency that may have an interest in the property. This program can provide up to $1,500 to the home owner to help with relocation from the property.
Please let us kniow if you would like additional information on HAFA or HAMP.