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Phoenix Real Estate HAFA Information

By Joe Martin

Phoenix real estate homeowners have additional hope to avoid foreclosure with the advent of HAFA. Unfortunately, the mjority of homeowners currently allow their homes to be foreclosed without ever exploring their options. I personally hope they will take the time to educate and explore the many better options available to them other than foreclosure.

It’s easy to just walk away and give up – the path of least resistance, for certain. However, the foreclosure haunt continues for years affecting credit, employment and even security clearances. With the advent of HAFA as an additional alternative, foreclosure can be avoided.

Sometimes the best option is to walk away and allow your home to go into foreclosure, but if you just walk away, you could be throwing away $1000′s of dollars in relocation assistance you could obtain through HAFA. Not to mention, you could protect yourself from a hovering deficiency judgment for the monies lost in the foreclosure by the bank/servicer. It is well worth the time to educate yourself.

One of my passions is to inform the public about their options to avoid foreclosure. I setup my Phoenix real estate “Home Rescue Network” website to do just that. Distressed homeowners who have negative equity or who are behind on their mortgage need to take the time to educate themselves. There is a comprehensive list of options to avoid foreclosure available on the site and a questionnaire to help determine eligibility for the new government programs.

I have a National network of experienced brokers and agents around the country I’m able to refer homeowners to. These are experts in their area who can help further educate and help homeowners rescue their homes from the throes of foreclosure. If you’re interested in more no-obligation information about this, you can contact me directly.

Simplifying and streamlining the use of Short Sales will be the result using HAFA’s top features including:

1. Providing financial incentives to borrowers, investors and servicers

2. NO deficiency judgments – Servicers are required to release borrowers from future liability for the debt

3. The normally daunting short sale process will be standardized and streamlined by using standard processes, documents and timeframes

4. HAFA provides workable alternatives to HAMP eligible borrowers

5. Eliminating the need for additional analysis on eligibility by utilizing financial and hardship information collected in conjunction with HAMP

6. Pre-approved short payoff terms prior to listing the property will be allowed

Roughly 24% of all properties with a mortgage (over 11,000,000 homeowners) have negative equity positions with their mortgage. I look forward to the seeing the results HAFA will provide to borrowers in avoiding foreclosure and how the goals of HAFA to standardize the process flow, minimize the performance timelines and standardize documentation of short sales will play out

Joe Martin is the team leader of the #48 RE/MAX Team in the World. He has an popular site with valuable information about HAFA and Avoiding Foreclosure. If anyone you know desires to learn about their options before foreclosure , then these free reports on Knowing Your Optionsand Understanding HAFA would be highly encouraged.

categories: HAFA,Understanding HAFA,Home Affordable Foreclosure Alternative,short sales,real estate foreclosures,how to short sale your home,Phoenix real estate,phoenix short sales,real estate law,foreclosure alternatives,foreclosure avoidance

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Article Citation
MLA Style Citation:
Martin, Joe "Phoenix Real Estate HAFA Information." Phoenix Real Estate HAFA Information. 3 Jul. 2010. uberarticles.com. 29 Dec 2014 <http://uberarticles.com/finance/bankruptcy/understanding-hafa-in-phoenix-real-estate-transactions/>.

APA Style Citation:
Martin, J (2010, July 3). Phoenix Real Estate HAFA Information. Retrieved December 29, 2014, from http://uberarticles.com/finance/bankruptcy/understanding-hafa-in-phoenix-real-estate-transactions/

Chicago Style Citation:
Martin, Joe "Phoenix Real Estate HAFA Information" uberarticles.com. http://uberarticles.com/finance/bankruptcy/understanding-hafa-in-phoenix-real-estate-transactions/


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