Main Available Alternative Foreclosure Program (HAFA)

We all know how frustrating it can be when banks take up to 7 months to respond to an offer, and by that time the buyer has sensibly bought something else. Disappointment for the seller, buyer and agent. Hope this will change soon.

On April 5, 2010, the aforementioned program, known as HAFA, came into force. At first glance, this seems to be a step in the right direction. The participating banks, and almost all of them, agree to abide by the deadlines for responding to offers and determining the network they desire from a short sale. If they do not complain, they will be ousted from the program.

This is quite active, so I suggest you google, but here are some points. For a realtor, this violates the bank from a reduction in commission. For the seller, they will disappear from debt without any judgments or authorized bills. The seller may also receive $ 1,500 for re-placement. (Quick transfer, relocation = no destruction of the joint.) The bank also receives a financial incentive to follow the leadership.

In general, it seems to be a win-win situation. So why bother me? Every day I look for a job at MLS for different clients, often in places where there are small sales. Since this program was announced, of all the short sales that I looked through, only ONE mentions HAFA. It is tragic. This means that there are hundreds of agents that have lists, but do not have the worst idea about how to handle them as part of the new frame operation. This is tragic, because what was or was an extremely difficult process should not be alone. If the agents do not know about it, do the banks? If a great idea fell in the forest and no one could hear it ...

I am curious to hear opinions about professionals throughout the country. Maybe this is just my area. What do you say?