Posted by: RAPV | March 26, 2010

Home Affordable Foreclosure Alternatives (HAFA)

The Home Affordable Foreclosure Alternatives (HAFA) Program will take effect on April 5, 2010.  This program will help with the short sale process to avoid costly foreclosures.  Additionally, NAR worked very closely with Fannie Mae to reverse a policy that would require payment of the negotiator/vendor from the real estate commissions.  This is a huge win for REALTORS® as the payment will now either be made separately or come out of the home sale proceeds.  To read more information about HAFA and their newly issued FAQs, please visit the Making Home Affordable website.

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