South Florida Real Estate|Broward County Homes For Sale » Foreclosure Help

South Florida Homowners want to know: What is HAFA?

Tiffany L. Young — Thu, 13 May 2010 20:30:18 +0000

If you are a South Florida Homeowner Facing Foreclosure and aren’t sure what to do…..

If you have Questions about HAFA and are not sure what all the new rules are………

Then watch this video……HAFA explained.

If you have additional questions, and/or want ot speak with a CDPE (Certified Distressed Short Sale Specialist) about selling your home call Tiffany at 954-257-5030 to find out your options.

HAFA Related Information/Posts of Interest:

HAFA Guidelines

Deed-In-Lieu VS. Short Sale

Tiffany L. Young — Wed, 06 Jan 2010 21:48:48 +0000

Did you know that lenders want you to AVOID Foreclosure? Yes they do!

That’s why they’re accepting more short sales and deed-in-lieu transactions everyday—especially short sales—to eliminate unnecessary foreclosures.

So Which Option is the Best one for you as a Homeowner in South Florida?

As a Certified Distressed Property Expert I have been trained to assist South Florida Homeowners facing these difficult situations. I can eliminate confusion and ease frustration by providing you with the information you need to evaluate your options.

I’ve created a free report to provide you with more information about these two dignified solutions to foreclosure. This report provides clear facts about the options that could save you from further financial distress.

Click here to get your FREE Report.

If you have any questions or concerns about your circumstances, or if your situation is urgent, please call me today at 954-257-5030.

Now is the time to call. I am here to help.

Tiffany L. Young, CDPE
Foreclosure Help for South Florida Homeowners

New Housing Guidelines Announced – Simplifying Short Sales

Tiffany L. Young — Fri, 04 Dec 2009 00:01:10 +0000

New Hope for South Florida Homeowners!

The Treasury Department announced on November 30th the new housing guidelines that will affect America’s homeowners. This program is officially called the Home Affordable Foreclosure Alternatives Program (HAFA). HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac – both whom will be issuing their own HAFA versions within the next month. This is a part of the Home Affordable Modification Program (HAMP).

HAFA’s goal is to simplify and streamline the use of short sales and DIL (Deeds In Lieu) options by adding a few rules (43 pages of guidelines).

Foreclosure Alternatives

Requires that borrowers be fully released from future liability for the debt (NO DEFICIENCY JUDGMENT)
Allows the borrower to receive pre-approved short sale terms prior to the property being listed
Provides financial incentives to borrowers ($1,500 for borrower relocation assistance), servicers ($1,000 to cover administrative and processing costs), and investors (up to $1,000)
Provides alternatives for borrowers who are HAMP eligible
Utilizes borrower financial and hardship information collected along with HAMP
Prohibits servicers from requiring a reduction in the real estate commission agreed upon in the listing agreement.

Timeline

Effective April 5, 2010, however participating servicers may elect to implement HAFA prior to that date as long as certain guidelines and an agreement is signed by December 31, 2009.

Borrowers must be considered by servicers that are HAMP eligible within 30 days that the borrower requests a short sale or DIL.

Borrowers Must be considered for a HAMP modification and other retention programs offered by the servicer (lender) prior to being considered for HAFA.

Read the full short sale guidelines

Contact Tiffany at tiffany@tiffanylyoung.com or call me at 954-257-5030 if you want more information about avoiding foreclosure on your South Florida Home.