As a Sacramento Area Short Sale Specialist And Successful HAFA Short Sale Negotiator, I get many questions about the Short Sale Cash For Keys Program that is an important part of the HAFA Short Sale Prograam. Many homeowners frequently contact me to ask “Am I Eligible for HAFA?” …usually people hear about HAFA on the news or radio but have a hard time finding HAFA Program Information to learn about the HAFA Short Sale Cash For Keys: $3000 To The Homeowner! “How can I qualify for the $3000 From HAFA?”
HAFA Allows for $3,000 to the homeowner after the short sale has been completed (and transaction has closed and recorded). It is called “Short Sale Relocation Assistance“, but should be called “Relocation Expense Reimbursement“, because the bank or servicer only pay you AFTER you move and the short sale closes!
You may be asking: How can I find out: Am I Eligible For HAFA? We could quickly find out; but first of all, we need to find out which HAFA may be applicable: there are Three Distinct HAFA Programs The Treasurie’s HAFA, for all non GSE investors, there is also a Fannie Mae HAFA and a Freddie Mac HAFA. Does Fannie or Freddie Own My Loan? All have different qualifying requirements but all have the same benefits, NO recourse and $3,000 in relocation assistance to the borrower (short sale homeowner).
What if neither own your loan? a quick phone cal from you will determine whether your ‘Investor” is participating in HAFA!
Allow us to help! We can quickly do a conference call with you and your bank and determine within 5 minutes whether you qualify!
Call Forth Hoyt at 916-316-3810 or Contact us Today At Forth Hoyt’s Sacramento Short Sale Center
Here are some other helpful Links that might help:
Other Key Elements of HAFA
• In a HAFA short sale, your mortgage company works with you to
determine an acceptable sale price upfront.
• If a HAFA short sale doesn’t work, you may be able to give the title back
to your mortgage company in a HAFA deed-in-lieu of foreclosure (DIL).
• Once you complete a HAFA short sale or DIL, you must be completely
released from your previous mortgage debt.
Here’s another link to the HAFA Program Information at http://www.makinghomeaffordable.gov