Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is Home Affordable Foreclosure Alternatives Program (HAFA)?

April 26, 2017affordable Alternatives foreclosure hafa Home program

0

Posted

What is Home Affordable Foreclosure Alternatives Program (HAFA)?

1 Answer

0

Posted

HAFA is part of the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP are also required to comply with HAFA. HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which will issue their own versions.