When HAFA Works. . It Saves The Homeowner Thousands Of Dollars
By Fernando Herboso - Associate Broker MD, & VA, 301-246-0001 Serving Maryland, DC and Northern VA
(Maxus Realty Group of Samson Properties )
A Short Sale can be enhanced with the HAFA Program. What are the qualifications to get into the "HAFA" Program ? {Home Affordable Foreclosure Alternative} Qualifying for HAFA? A loan must meet the basic eligibility criteria for HAFA if all of the following conditions should be met: The property is the borrower’s principal residence. The mortgage loan is a first lien mortgage originated on or before January 1, 2009. The mortgage is delinquent or default is reasonably foreseeable. The current unpaid principal balance is equal to or less than $729,7501 for a single family property; $934,200 for a two unit property; $1,129,350 for a three unit property or $1,403,400 for a four unit property. The borrower’s total monthly mortgage exceeds 31 percent of the borrower’s gross income. You...
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