The Home Affordable Foreclosure Alternatives Program or HAFA will not only effect how lenders manage short sales as I have previously mentioned in the December 17, 2009 post, it will demand that all lenders who operate under HAMP offer short sales to any failed loan modification attempts who are eligible.
With the current numbers at approximately 750,000 homes under loan modification trials and a success rate predicted at about 30,000 under HAFA the remaining 720,000 will all be offered short sale opportunity. This means a flood of short sale listings will be arriving on the market starting around May of 2010.
If you have questions about how this will impact your real estate listing or purchase plans, please feel free call me at (209) 471-6516 or email me at [email protected] regarding any questions you may have regarding Stockton real estate, Lathrop real estate, Lodi real estate, Manteca real estate or Tracy real estate.
Leave a Reply