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FREE REPORT: Short Sales, HAFA, And You!

Getting up to $4500.00 cash back at close on your short sale is a very real possibility!

Let me explain…

In addition to the Federal HAFA program, which offers up to $3000.00 cash back, Arizona Short Sales may qualify for up to an additional $1,500 cash back, plus 3% in closing costs.

The $3000.00 – $4500.00 cash back is part of a government sponsored program called “HAFA”. HAFA is just an acronym for Home Affordable Foreclosure Alternative Program.

What this program is…  it’s a government plan to help troubled homeowners gracefully exit their homes. HAFA was accepted by the major Lender/ Lien Holders on 8/1/10.

Not all homeowners qualify for this plan, however, we encourage our sellers to volunteer for the program as it creates the possibility of an even more favorable outcome and of course… THE CASH!

Here is a brief listing of the qualifications to participate in HAFA:

  • Must be a hardship – Lost your job, divorce, et al.
  • Short Sales must be Arms Length – Can’t short sell to relatives or close friends.
  • Lienholders must accept full satisfaction in short payoff- as the Seller this means on your credit it should be reported as “paid in full”.
  • Lien holders will accept reasonable & customary costs.
  • Short sale with no promissory note- as the seller, this means you will not owe your lien holder additional money after the short sale.
  • Short sale with no deficiency judgment- as the seller, this means the lien holder cannot sue you for the unsatisfied mortgage debt.
  • A full release of all current or future liability.
  • Homeowner must volunteer to join the program.

HAFA Benefits to YOU:

  • Up to $3,000 to the seller for moving costs! (Note: the lender may use this toward delinquent HOA fees and other fees owed if any.)
  • Full release of seller’s liability!
  • No promissory note for the seller – you walk away not owing the lien holder anything!
  • No Deficiency Judgement- the Lien holder is agreeing not to sue you, the seller, for the deficiency amount!

HAFA works wonderfully if you qualify.

This is still a newer program (started 8/1/2010), so there are some kinks to work out.

If you don’t qualify for HAFA, don’t fret, regular short sales still exist!

In short sales we negotiate for the Seller to have all the above benefits of HAFA- with the exception of the moving costs paid by the Lender.  Sometimes you can’t have everything.  The goal of a short sale is to avoid foreclosure, negotiate with your Lender and own a home in another 2 years.

My client’s fresh start is my favorite part of my job.  When I first meet with clients they are stressed, worried and feel stuck in a home they can no longer afford.  Once we complete the short sale, they are on their path to a successful financial future, repairing their credit and purchasing a home 24 months later.


As  a free bonus we are sending you a FREE copy of our new book titled “The Definitive Guide To Choosing A Short Sale Expert”!

In it you will learn a ton about how to navigate short sales and how to choose the right short sale agent for your situation. Keep on the lookout for it in your email 6 days from now!

If you have immediate questions or needs, use the form to the right to submit a question or contact us now. We will gladly help you asses your situation by phone.


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