Making Home Affordable: How Not to Get Ripped Off
Yes… My thoughts on the HAFA (Home Affordable Foreclosure Alternatives) program as of this morning. When I woke, it must have took me an hour to find my soapbox after reading an article on HAFA scams aimed at distressed homeowners. While Obama’s Making Home Affordable program which includes both HAMP (Home Affordable Modification Program) and HAFA rolled out earlier this year, despite the many news briefings, articles, lender notifications to defaulting borrowers and the Real Estate Agents canvassing their market niches, there hasn’t been enough time as of yet for the entire jury to return. These programs were intended to both incentivize lending and servicing institutions to cooperate and to streamline the “Short Sale” process currently plaguing distressed homeowners across the nation. As HAFA rolled out on April 5th, many direct lenders had only provided their loss mitigation staffs with minimal information.