Yes, another government program to help struggling homeowners, this one designed for those who cannot be successfully assisted by the Home Affordable Modification Program (HAMP). Under the Home Affordable Foreclosure Alternatives program ( HAFA), a borrower may be able to avoid foreclosure by completing a short sale or a deed-in-lieu of foreclosure (DIL). Although the outcome is still [...]
Entries Tagged as 'foreclosure prevention'
Benefits of the New Home Affordable Foreclosure Alternatives Program (HAFA)
March 1st, 2010 · No Comments · Mortgages, Real Estate
Tags: deed-in-lieu of foreclosure·foreclosure prevention·HAFA·HAMP·Home affordable forclosure alternatives·Mortgage Loans·Mortgages·short sales
Mortgage Fraud Schemes Alive and Well
March 23rd, 2009 · 7 Comments · Mortgages
When people are desperate, they are not thinking clearly and can fall prey to vultures who exploit vulnerabilities. With so many foreclosures happening these days, fraudsters are coming out of the woodwork using new and old tricks. Foreclosure Prevention Schemes – Homeowners facing the threat of foreclosure and nearing eviction are contacted by “foreclosure specialists” [...]
Tags: elderly and immigrant·foreclosure·foreclosure prevention·Identity Theft·Making Homes Affordable Program·mortgage fraud·Mortgages
Current Status of Loan Modification Programs
January 19th, 2009 · 3 Comments · Mortgages, Real Estate
Foreclosure prevention is critical for families and individuals, the communities they affect, and the overall housing market. There is a continuing effort by both public and private agencies to provide loan modification program(s) designed to reduce foreclosures and get struggling homeowners into mortgages that they can afford. A loan modification, or loan restructure, is a [...]
Tags: foreclosure prevention·loan modification·loan restructuring·Mortgages·Streamlined modification Program·subprime loans
