IMPORTANT UPDATE: HAFA's sister program HAMP gets extended through 2013
The Treasury Department announced that the Home Affordable Modification Program (HAMP) - which is the sister program for HAFA - was extended by one (1) year through December 31, 2013. This means eligible consumers will have more time to apply for a HAMP modification. Other changes to HAMP include higher Treasury paid financial incentives for Fannie Mae and Freddie Mac to forgive principal, and an easing of program guidelines so that homes occupied by renters are also now eligible for the program. Since HAFA is part of HAMP, it should be extended as well, although we do not have it in writing.
I will update you on this information as soon as it is confirmed. For now here is the link to the US Treasury info page.
Certified HAFA Short Sale Agent - Sidney Kutchuk - Realty Works Temecula
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