Short Sales, Titles & The New HAFA Law

How Does HAFA affect your Short Sales?

Join us for an intense & focused discussion on Home Affordable Foreclosure Alternatives Program (HAFA) and how it affects your investing options.

On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is part of the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP are also required to comply with HAFA.

HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which will issue their own versions of HAFA in coming weeks.

HAFA is a complex program, with 43 pages of guidelines and forms, designed to simplify and streamline use of short sales and deeds-in-lieu of foreclosure.

The program does not take effect until April 5, 2010, but servicers may implement it before then if they meet certain requirements. The program sunsets on December 31, 2012.

Panelists include but are not limited to:

Rose Gallagher, Esq., Regal Title Agency

Fanny Trataros, Underwriting Counsel, Regal Title Agency

Sabrina Kizzie, SKL Properties, Short Sales National Speaker

Teresa R. Martin, Esq., Law Offices of Teresa R. Martin, P.C.

Ayeshah Lacy, Wells Fargo

Member Price: $25.00 / Non-Members Price: $49.00

Additional Information | Contact the Teresa R Martin, Esq. | 646-278-6724| http://www.reianyc.com