Home Affordable Foreclosure Alternatives Program (HAFA) HAFA® provides homeowners the opportunity to exit their homes and be relieved of their remaining mortgage debt through a short sale or a deed-in-lieu of foreclosure (DIL). It also provides homeowners with $10,000 in relocation assistance. Application Deadline: December 31, 2016 FEATURES AND BENEFITS Through HAFA, you can get help with your primary residence or rental property. If a HAFA short sale doesn’t work, you may be able to give the title back to your mortgage company in a HAFA deed-in-lieu of foreclosure (DIL). Once you complete a HAFA short sale or DIL, there is a waiver of deficiency, meaning you are released from any remaining mortgage debt. HAFA offers $10,000 in relocation assistance for you or your tenant. In some cases, HAFA has a less negative effect on your credit score than a foreclosure, which allows for a faster financial recovery. ELIGIBILITY You may be eligible for HAFA if you meet … [Read more...]