We Need As Much Information As We Can Get On HAFA
An interview was conducted this afternoon between Tim Harris and Jeff Lischer. So what you may say? Tim and Julie Harris are fantastic folks who own Harris University for Realtors®. They keep up-to-date information about a new program called HAFA. Home Affordable Foreclosure Alternatives is a program for borrowers to sell their home before heading into foreclosure. If you are behind in your monthly payments or you can see that in the near future, you will be unable to make your monthly payments you can apply to your lender to be on this program. Why? You can sell your home and not have anyone come after you for a deficiency payment. This means that you owe more on your home than its worth and selling it on your own, would leave you still owing the difference of the sale to your lender. Jeff Lischer, NAR Managing Director of Regulatory Policy answered questions about the new HAFA program from Tim and realtors® around the country. Highlights: Lenders lose $50,000 to $100,000 on a foreclosure, this makes the HAFA program very appealing to them * A foreclosure will cause the sales price of neighborhood homes to go down * Too many empty homes in a community can cause an increase of homes being vandalized and break-ins For folks who are trying to sell their house on their own because they do not want to pay a commission to realtors®, on the HAFA program the lender pays the commission not the borrower. It may seem as if this is a do-it-yourself program but it is a complicated process that takes the expertise of experienced professionals. That's where we come in as CDPE's, together, we can identify all possible options and, when possible, a CDPE can assist you in the quick execution of a short sale. We are here for you!
If anyone suggest that you have to pay for short sale help, leave them alone. Realtors® receive their commission from the lenders, so there is no need to require anyone to pay money up front or at all.
If anyone suggest that you have to pay for short sale help, leave them alone. Realtors® receive their commission from the lenders, so there is no need to require anyone to pay money up front or at all.
Posted by Just Ask Madeline at 1/6/2012 5:34 PM 
Categories: Short Sale, Housing Market
Tags: Real Estate sellers short sales HAFA
Categories: Short Sale, Housing Market
Tags: Real Estate sellers short sales HAFA
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