Home Affordable Foreclosure Alternatives Program (HAFA)

The new policy updates for HAFA will take effect February 1, 2013, but servicers can begin implementing the changes earlier.

One of the changes discussed during the webinar is the requirement for servicers to make a decision on a borrower’s request for a HAFA short sale within 30 days.

But resale rules have been relaxed to help investors to allow them to sell properties in a short as 30 days after a HAFA short sale closing as opposed to a 90 day waiting period.

Source: http://www.dsnews.com/articles/treasury-official-discusses-hafa-short-sale-updates-in-webinar-2012-12-18

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