Should I do a short sale? Do I qualify? What is HAFA?

In early April 2010, a government progam called HAFA will affect bank approved short sales. Banks and service providers who have signed on with this goverment progam will accept short sales based on the HAFA criteria.

If you are thinking of doing a short sale, don’t wait. When the HAFA program gets implemented, the process to get approved for short sale could be prolonged. Just like the HAMP program for loan modifications, the process and criteria changed once banks signed on to meet the criteria set by the government. We don’t know yet whether this program will be better than what some banks are currently accepting.

Banks are approving short sales now. In some cases, you don’t even have to be late on your mortgage. If you are late for your mortgage, then don’t wait. Do something about it now. If you want to receive more information and find out if you qualify for a short sale, give us a call for a free, no obligation consultation at 661-726-0696 or email here.