Treasury relaxes rules to free-up HAFA short sales

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According to Treasury’s latest status report on its foreclosure prevention programs, as of the end of February, 4,488 homeowners had completed a short sale or DIL through HAFA.

Barclays faces fraud lawsuit from NY AG Treasury relaxes rules to free-up HAFA short sales HAFA SM is designed to standardize and streamline the short sale and deed-in-lieu process, which can oftentimes be very cumbersome and difficult to complete. HAFA SM puts into place a number of important homeowner protections, by establishing clear.

The U.S. Treasury is trying to make short sale more attractive to lenders and homeowners through the "Home Affordable Foreclosure Alternatives Program" or "HAFA" along with the updated HAFA changes for 2011 and HAFA changes for June 2012 supplemental directive.. What Treasury is trying to do is help streamline the short sale process by suggesting guidelines to the participating lenders.

Supplemental Directive 14-04 Page A-3 short sale or DIL. In the case of a rental property occupied by a tenant or other non-borrower occupant, the entire $3,00010,000 in HAFA relocation assistance must be paid to the tenant or other non-borrower occupant (assuming the conditions of such payment are satisfied), must be

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Treasury relaxes rules to free up short sales via HAFA (Home Affordable Foreclosure Alternatives) HAFA and HAMP’s failures have resulted in the Treasury easing eligibility rules to help investors pursue short sales and deed-in-lieu purchases.