Friday , December 15 2017
Home / Foreclosure Prevention / $10,000 in New HAFA Incentives

$10,000 in New HAFA Incentives

When you are underwater or missing mortgage payments, foreclosure may seem inevitable, but there is an alternative. A short sale may save you a lot of stress and put money in your pocket. Even if you are current on your mortgage but looking to lighten your burden, contact Jason Walowitz of United Financial Counselors to take advantage of major new incentives from HAFA (Housing Affordable Foreclosure Alternatives) to short sell your house without getting sold short.

As of February 2015, you can get up to $10,000 in relocation assistance from HAFA, an increase from the previous $3,000. That’s right; $10,000 to help you move and get into a house you can afford.

HAFA will not only pay you to move, but will protect you from many of the unpleasantries of foreclosures and short sales.

You will be in control of the sale and can remain in your home during the process. Your credit score may be affected, but won’t be marred by the dreaded “F” word. There are many variables, but if you were current on your mortgage payments, you may be immediately eligible to buy a new house. Otherwise, 2-3 years is typical to qualify for another Fannie Mae or FHA loan. A foreclosure may preclude you from owning a house for 5-7 years. Perhaps most importantly, a HAFA short sale releases you entirely from your debt. That means lenders won’t come after you if the sale falls short of the loan balance.

  • You may be eligible for a HAFA short sale if you meet the following criteria
  • You obtained your mortgage on or before January 1, 2009
  • You have a documented financial hardship
  • Your mortgage is less than $729,750
  • You have not purchased a house within the last 12 months

If you think getting out of debt is a long shot, a short sale may be just the trick. United Financial Counselors will help you navigate the HAFA process and take full advantage of the numerous benefits it has to offer so you can shed the past and start your future.

About admin

Check Also

Fannie Mae Announces HAMP Replacement With A New “Flex Modification Foreclosure Program”

Say Good Bye To The Old HAMP Program And A Hello To A New Fannie …