What is HAFA?
The Home Affordable Foreclosure Alternatives (HAFA) Program is a government-sponsored initiative announced in November 2009 overseen by the US Treasury Department and administered by Fannie Mae (Fannie) assisting all Home Affordable Modification Program (HAMP) eligible homeowners in avoiding foreclosure, specifically through short sales (SS) or deeds-in-lieu (DIL) of foreclosure. As of April [...]
Continue Reading →Bank of America announced it will look first at principal forgiveness – ahead of an interest rate reduction – when modifying certain sub-prime, Pay-Option and prime two-year hybrid mortgages qualifying for its National Home ownership Retention Program (NHRP). The introduction of an earned principal forgiveness is being used to modify mortgages that are severely underwater. [...]
Continue Reading →A true look at the loan modification process. Congress Woman Maxine Waters makes several inquires on behalf of her constituents one of which is an early person behind on her mortgage payment for at least a year and another for a couple that is not behind on payments but simply struggling. The runaround takes center stage [...]
Continue Reading →Oftentimes, as a Top New Jersey Real Estate agent, I help homeowners like you understand and evaluate their next move when it comes to falling behind on mortgage payments. Rest assured that help is available and it comes in different forms. Please know that I understand what you are going through.The market changed [...]
Continue Reading →Recently, as I am looking online and on sites like Twitter, I am seeing a trend of Do-It-Yourself (DIY) Loan Modification Tools and/or 3rd party representatives who charge a fee ($500-$3,000) to assist you in your loan modification process. I am almost certain that the number one question that you have on your mind is: [...]
Continue Reading →I don’t qualify for loan modification, now what? On November 5, Fannie Mae announced its new Deed-for-Lease Program (D4L) that allows eligible borrowers facing foreclosure (or their tenants) to stay in their primary residences.
Under D4L, the borrower transfers ownership of the property to the lender through a deed-in-lieu of foreclosure and the borrower (or [...]
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- Weichert, Realtors
- Audeliz Angie Perez
- 123 Lincoln Highway
- Edison, NJ 08820
- Office: 732-494-6800
- Fax: 732-603-9626
- Cell: 973-715-6210
