Is HAFA Program helping Distressed Home Owners?

Is HAFA the answer for distressed home owners?

Is HAFA the savior for distressed home owners? At our HomeStalkers Group, we have negotiated hundreds of short sales on behalf of our clients with over an approximately 99% success rate. To date, we have several HAFA short sales in the works. Our honest opinion is it is a mess and unless things vastly improve, we can not honestly recommend to our clients that they go through this process.

Think about it. You have a short sale system with the banks, investors and servicers that is far from perfect even after several years. Yeah, yeah, yeah, we hear all the rumors about approved short sales, short sale departments gearing up their staffing and more, but now you have thrown in another new entity in the HAFA negotiation. Talk about the right arm not knowing what the left arm is doing, we now through in a leg for good measure. The bad news is the client is the one that suffers, because our experience is banks are forcing foreclosure sooner and while we are trying to get answers with our short sale and HAFA, the foreclosure time line doesn’t stop, yet this is totally contrary to the intended program. There is a lot of coffee room talk among fellow agents that do a lot of short sales is the feeling the banks and servicers really don’t want anything to do with a HAFA program.

At HomeStalkers and the D&R Group, we always want to do what is best for our clients, but we are really perplexed with this latest government venture. We would love to have any agent doing short sales chime in on this.