HAFA - Home Affordable Foreclosure Alternative Program : HAFA is an extension of the HAMP program introduvced by the Obama administration. With the failure of the Loan Modification program to keep homeowners in their homes, with many homeowners reluctant to sign modification agreements that does not reduce principal balances the administration has introduced the HAFA program which is designed to streamline the short sale process. www.mypbchomes.com

The key to success in this program is the homeowner: are they willing to take $1500 relocation money in exchange to paying a partial mortgage (no more than 31% Gross Income) for the duration of the Short Sale process and losing their home in the end. Many did not want to cooperate in the HAMP program and refused to return lenders calls and respond to their letters.

The Obama administration is quickly running out of options and is neglecting the driving force of any economy JOBS. Hopefully the HAFA program will bring much more success than the HAMP program. www.mypbchomes.com
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