Making Home Affordable Program extended for another 2 years through Dec 2015, making many South Florida Homeowners happy. This program offers the distressed homeowner valuable options to avoid foreclosure through it’s (HAMP) Home affordable Modification Program, (HAFA) Home Affordable Foreclosure Alternatives and the the Second Lien Modification Program. Whether you’re looking to have your mortgage loan modified
HAMP, as you feel that’s an option for you or if you feel your only real option would be to sell your home as a Short Sale, than the HAFA program would possibly be right for you. Now that they’re being extended you can breathe a sigh of relief knowing you might have some workable options.
To recap HAFA eligibility:
You may be eligible for HAFA if you meet all of the following criteria:
- You have a documented financial hardship.
- You have not purchased a new house within the last 12 months.
- Your first mortgage is less than $729,750.
- You obtained your mortgage on or before January 1, 2009.
- You must not have been convicted within the last 10 years of felony larceny, theft, fraud, forgery, money laundering or tax evasion in connection with a mortgage or real estate transaction.
Keep in mind that these are simply guidelines and can vary by Lender.
If you’re wondering what will be best for you and you want to discuss it further, I’d be happy to help you clarify what your options might be with the Making Home Affordable Program. Selling your home as a Short Sale? Call me now and don’t delay 954-464-1100
Having hope when you’re going through some trying times can always bring welcome relief.