I've been getting a lot of questions lately about the HAFA Program and how it relates to short sales, and why people should pay attention to it if they have been thinking of selling their home. There are loads of other websites out there that explain and define the HAFA short sale program, but this is my attempt at a very clear and concise explanation.
According to an article in New York Times, mortgage lenders are offering cash incentives to homeowners willing to short sale. Shed the high payment of an upside down mortgage and get paid to do it!
The Federal Housing Finance Agency's HARP program was detailed on October 24th 2011 and promises to help homeowners who's mortgages are underwater due to the current economic climate. President Obama is hoping this will help the homeowners avoid foreclosure and help stabilize the economy.