Understanding HAFA


Home Affordable Foreclosure Alternatives Program (HAFA)

Wendy G Brown obtained the Certified HAFA Specialist designation to further assist distressed homeowners avoid foreclosure.

I also hold several other nationally known certifications as a Certified Distressed Property Expert (CDPE), Certified Foreclosure Prevention Specialist, and a Short Sale & Foreclosure Resource Specialist (SFR). I have been professionally trained to assist you with all stages of the short sale process. To Learn more about me, Click here.

"My goal is to offer 1 on 1 counseling to homeowner's who are experiencing a financial hardship and want to know their options."--Wendy Brown


Do you have a Bank of America, Chase Mortgage, CitiMortgage, GMAC, Wells Fargo Home Mortgage, Aurora Bank, Suntrust Mortgage, Nationstar Mortgage, PNC Mortgage, MetLife, ASC, BSI Financial Services, Homeward Residential Mortgage, Everhome Mortgage, Ocwen, Residential Credit Solutions, Roundpoint Mortgage Servicing, Saxon Mortgage,or a Select Portfolio Mortgage? You may be eligible for the HAFA program.

Many homeowners in Atlanta, Decatur, Lithonia, Stone Mountain, Conley, Lawrenceville, Conyers, College Park, Ellenwood, Covington, McDonough, Tucker, and Snellville have been in the same situation. You can't find a way to keep your home -- such as by a loan modification through the government's Home Affordable Modification Program (HAMP) -- then it's time to contact me or your lender about conducting a short sale. Your lender can tell you whether you qualify for -- the Home Affordable Foreclosure Alternatives program (HAFA).

In 2009, the Treasury Department introduced the HAFA program to provide a viable option for homeowners who are unable to keep their homes through the existing Home Affordable Modification Program (HAMP). The HAFA program took effect on April 5, 2010.


Home Affordable Foreclosures Alternatives Program: Guidelines and Forms

HAFA provides a relocation incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL).

Although you can conduct a short sale outside of the program, HAFA streamlines the short-sale process for qualified sellers and their participating lenders. Here's what you need to know.

HAFA Provisions

  • Complements HAMP by providing a viable alternative for borrowers (the current homeowners) who are HAMP eligible but nevertheless unable to keep their home.
  • Uses borrower financial and hardship information already collected in connection with consideration of a loan modification.
  • Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds).
  • Requires borrowers to be fully released from future liability for the first mortgage debt (no cash contribution, promissory note, or deficiency judgment is allowed).
  • Uses standard processes, documents, and timeframes/deadlines.
  • Provides the following financial incentives:
    • $10,000 for borrower relocation assistance;
    • $1,500 for servicers to cover administrative and processing costs;
    • Up to $2,000 for investors who allow a total of up to $8,000 in short sale proceeds to be distributed to subordinate lien holders, on a one-for-three matching basis.
  • Requires all servicers participating in HAMP to implement HAFA in accordance with their own written policy, consistent with investor guidelines. The policy may include factors such as the severity of the potential loss, local markets, timing of pending foreclosure actions, and borrower motivation and cooperation.

Don't guess what your options are, understand your options - you do have some.

If you are looking for a REALTORĀ® or a real estate agent to help you navigate the short sale process. You have come to the right website.

Simply provide your contact information below to get this valuable information, and feel free to pass it along to anyone who you know may need it.

Understanding HAFA Required
Contact Information
First Name
Last Name
Email Address
Phone Number
Best time to contact you
Street #
Street Name
Suite #
Zip/Postal Code
PO Box
Are you currently working with a Realtor?
Yes    No
Additional Comments?
 Enter the verification code in the field below and click the submit button.