HAFA Update Effective February 1, 2011

 

The Home Affordable Foreclosure Alternatives (HAFA) program will continue to grow and change as the market conditions change.   It’s very important for Real Estate Professionals to stay on top of these changes to help their clients through potential loan modifications and short sales if and when the client deems them a necessary course of action.

  In December 2010 a handbook  was issued by the Treasury (version 3.0) for Servicers of Non GSE Mortgages.  This means the program that details the HAFA guidelines for loans that are not owned or guaranteed by Fannie Mae or Freddie Mac.  It also specifically applies to Loan Servicers that have signed a HAFA participation agreement (which includes 90%+ of the loans in effect).

The changes to this handbook are here Supplemental Directive effective February 1, 2011

If you know of someone who is having trouble paying their mortgage or you find yourself in a financially distressed situation.  Please take action today.  Don’t wait another minute.  You need help and we know that asking for that help is the hardest step to take.  Take a deep breath and pick up the phone…(951) 522-0518 or (951) 522-6308.  If sending an email is easier teamgreer@tarbell.com

We want to help.

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