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HAFA ELIGIBILITY Below are two sets of eligibility criteria for HAFA. The first is a set of rules for the Homeowner and the second is the set of rules for the Mortgage itself. Keep in mind that HAFA was created so that those who are eligible for HAMP would be eligible for a HAFA assisted Short Sale. Before you proceed, Click here to see if your 1st lien Servicer is participatng in HAMP - if they are then you may be eligible for the HAFA program. If not, you are not currently eligible for HAFA. Click here to see if you are HAMP eligible. Servicers have to consider HAMP eligible Homeowners as eligible for HAFA within 30 calendar days of one or more of the following: - Does not qualify for HAMP Trial Period Plan - Does not successully complete a HAMP Trial Period Plan - Is delinquent on a HAMP modification by missing at least two consecutive payments - Requests a short sale or Deed in Lieu Mortgage must meet the following in order to be eligible: - The Home must be the Homeowners primary residence - The Mortgage must be a a first lien that was originated before Jan 1, 2009 - The Mortgage must be either currently delinquent or default must be reasonably foreseeable - The current principal balance of the Mortgage must be equal to or less than $729,750 - The Mortgage payment must exceed 31% of the Homeowners gross monthly income Take the first step today and call us for a consultation. Don't wait - The sooner you call the sooner we can get your life back on track.
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