HAFA is the only program that gives you cash for avoiding foreclosure through a short sale or deed-in-lieu of foreclosure. If you complete a short sale or deed-in-lieu, then up to $3,000 in Borrower Relocation Assistance may be available to aid in your transition. The biggest gain of HAFA, however, is that it helps you get your life back if you feel like there are no other solutions when faced with foreclosure.

What’s in it for the Homeowner?

Homeowners qualify for $3,000 in Borrower Relocation Assistance. Bare in mind, this money will be deducted from the gross sale proceeds at the time of closing and may classify as taxable income, in some cases.

Why Would my Lender Participate in HAFA?

Lenders and servicers receive $1,500 in administration and processing fees for each successful short sale transaction under HAFA guidelines. Servicer may not charge borrower any processing fees and MUST pay all out-of pocket expenses.

If I Have More Than One Lien Holder, Why Would They Release My Debt?

Under HAFA, subordinate lien holders receive up to $6,000 to release liens.

What Motivates Investors to Buy a Short Sale?

Investors are given $2,000 for subordinate lien holder payoff as well as a great deal on a properly maintained property. For every three dollars spent to release liens (up to $6,000) investor is reimbursed one dollar (up to $2,000).

 Az Short Sale Resource

Source: Making Home Affordable. Supplemental Directive 09-09 Revised (2010)