Folsom short sales, El Dorado Hills short sales and short sales in the surrounding Sacramento areas are where most of my real estate signs are these days…
As a Sacramento area short sale specialist Certified many, many times, and team leader of a highly trained group of short sale experts, we answer many many questions daily from both short sale buyers and homeowners who need to short sale a home in Sacramento.
Lately, with so much press about the new Government HAFA program, (which is the short sale add-on the the HAMP loan modification program) many of the questions are about which banks are participating and how to find out if the program applies to a particular propery.
Lenders and loan servicers participating in HAFA (hafa participating lenders) must sign a servicer participation agreement with Fannie Mae — the program administrator and financial agent representing the United States in this case — to participate in HAMP by October 3, 2010 (the previous deadline was December 31, 2009. This was updated March 26, 2010)1 Therefore, most lenders are participating and those who are not have the opportunity to at any time. Lenders are developing comprehensive programs in order to prepare for the expected flood of applications for short sales and deeds-in-lieu of foreclosure that HAFA will unleash.
There are several new government sponsored anti-foreclosure programs:
Government Programs… Which Do You Qualify For?
Here’s a Quick List of HAFA participating lenders:
Bank of America
NATIONAL PARTICIPATING SERVICERS
Currently, the HAFA Program has not been activated. Therefore, there is not yet an official list of participating servicers. However, servicers that participate in HAFA are also participating in HAMP. For a full list of servicers participating in HAMP, visit Making Home Affordable’s Participating Servicers List.