HAFA EXPIRES 2016

The federal government’s Making Home Affordable Program (MHA) which includes the Home Affordable Modification Program (HAMP), Home Affordable Refinance Program (HARP), and the Home Affordable Foreclosure Alternative program (HAFA) were  due to elaspe on December 31st 2015. The Federal Housing Finance Agency (FHFA) announced that the MHA would be extended through 2016.

For short sales, per the HAFA program the December 31st 2016 to take action and apply for any of these government-backed programs. HAFA expires 2016 will affect borrowers by making them potentially ineligible for $10,000 relocation incentive and a guaranteed deficiency waiver. It affects agents by not guaranteeing commissions will not be reduced.

In 2009 the Making Home Affordable Programs (MHA) was introduced and these programs have been  popular with borrowers who are seeking resolution on their distressed property’s. Now that HAFA Expires 2016 many borrowers and agents are scrambling to get into the program.

As of right now it does not appear that they will be extended into 2017.

There may be other ways to receive a relocation incentive to move or waive a deficiency balance so fill out the form below to speak to a specialist right away.