Announced last month, the guidelines for the Home Affordable Foreclosure Alternatives (HAFA) Government Sponsored Enterprise program for loans held with Fannie Mae and Freddie Mac will begin August 1^st , 2010. 

Fannie Mae and Freddie Mac’s implementation of HAFA is expected to be a major boost for short sales during the life of the program through the end of 2012.  A homeowner accepted into the HAFA program would be eligible for $3,000 in relocation support and qualify for deficiency forgiveness on the balance of their loan. 

If you are a homeowner considering a short sale, contact us to see if you qualify for HAFA.

Related posts:

1. Washington Report: Reshaping Fannie and Freddie
2. San Diego HAFA Update
3. Obama Administration Announces Financial Incentives and Uniform Process for Short Sales