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Teddy Jagessar's Blog

By Teddy Jagessar | Agent in Wellington, FL

Qualifications for Homeowners - HAFA Home Affordability Foreclosure Alternatives

The Qualifications for Homeowners under HAFA Program  www.hafahelp.info
 
A loan meets the basic eligibility criteria for HAFA if all of the following conditions are met:
 
o The property is the borrower’s principal residence.
 
o The mortgage loan is a first lien mortgage originated on or before January 1, 2009.
 
o The mortgage is delinquent or default is reasonably foreseeable.
 
o The current unpaid principal balance is equal to or less than $729,7501 for a single family property; $934,200 for a two unit property; $1,129,350 for a three unit property or $1,403,400 for a four unit property.
 
o The borrower’s total monthly mortgage exceeds 31 percent of the borrower’s gross income. www.hafahelp.info

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