HAFA offers $3,000 incentive directly paid to mortgage borrowers to assist with relocationÂ Â expensesÂ Â uponÂ successfully completing HAFA Shortsale, or HAFA Deed-In-Lieu Foreclosure.
Moreover, HAFA offers mortgage companies $2,200 incentive for each successfully completed HAFA Shortsale, and $1,500 incentive for each successfully completed HAFA Deed-In-Lieu Foreclosure.
Home Affordable Foreclosure Alternative (HAFA) is a division of the Making Home Affordable Program (MHA), which is directly under the jurisdiction of the Home Affordable Modification Program (HAMP).
The Treasury Department, under the Obama Administration, introduced theÂ HAFA Shortsale program in 2009 to provide a viable option for homeowners unable to keep their homes through existingÂ Home Affordable Modification Program (HAMP).
The Treasury Departmentâ€™s HAFA Shortsale program became effective on April 5, 2010, and scheduled to conclude on December 31, 2013.Â However, Freddie Macâ€™s HAFA Shortsale program expired last December 31, 2012.
Shortsales have been rapidly increasing within the housing industry market because of the 2008 Great Recession.Â Consequently, home prices within the housing industry substantially declined because of massive nationwide foreclosures.Â Since homeowners property values substantially declined, their mortgage arrears began sinking further underwater.
In essence, homeowners owe more on their mortgage loans than their property value is worth.Â The residual effect of the financial collapse of the mortgage industry and housing industry continues to haunt homeowners.Â Although home prices are rising in 2013, shortsales have continued to increase.
Conversely, Georgia became one of 18 states that have received funds from the U.S. Department Of Treasuryâ€™s Hardest Hit Fund, which is a $76 billion program established in 2010 to help homeowners at risk of losing their homes.
HomeSafe Georgia Â was allocated $340 million in federal funds in April 2011, but HomeSafe Georgia has only awarded $23 million federal funds, thereby assisting fewer than 1,000 distressed Georgia homeowners avoid foreclosures or shortsales.
HomeSafe Georgia has become a colossal failure primarily because of mismanagement of federal funds as shortsales in Georgia continue to rise.
"IF YOU KNOW ANYONE INTERESTED IN BUYING OR SELLING THEIR HOME, PLEASE TELL THEM TO CALL WILLIAM "SUPER" BYRD.
MOBILE: (404) 992-1513