The New HAFA Program May Help Those Facing Foreclosure

With President Obama’s new program, HAFA, those in foreclosure may have a better alternative through government subsidized short selling.  Home Affordable Foreclosure Alternatives (HAFA) allows those facing foreclosure to take the better alternative of a short sale.  Because a foreclosure will affect your credit in a very negative way, seeking a short sale offers the homeowner a way out of some of the problems associated with a foreclosure.  In the HAFA program, HAFA pays banks $1,500 and owners $3,000 if they will let a homebuyer purchase the house below the mortgage value; the owner will then walk away from the transaction debt-free.

For more information about short sales click here, or contact the experienced and friendly Kristan Cole Team today.  If you or someone you know may be facing a foreclosure in Mat-Su Valley AK, get the facts about short sales now, and be well on your way to understanding your options.