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SHORT SALE HELP

Contact Information

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Properties by TARA
#01843373
WinDS, AREAA,CDPE, NASSPro, CDPD, A-REO
5 Star Short Sale Certified, RDCPro,
ResNet & Equator certified
Serving Northern California
925.755.TARA  (8272)
Direct: 925.382.6210
Fax: 925.871.5972
PropertiesByTARA@comcast.net
 www.ShortSaleQuarterback.com

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

Who is Supporting HAFA

Who is Supporting HAFA?

Lenders and loan servicers participating in HAFA must sign a servicer participation agreement with Fannie Mae — the program administrator and financial agent representing the United States in this case &mdash to participate in HAMP by October 12, 2010 (the previous deadline was December 31, 2009. This was updated March 26, 2010)1 Therefore, most lenders are participating and those who are not have the opportunity to at any time. Lenders are developing comprehensive programs in order to prepare for the expected flood of applications for short sales and deeds-in-lieu of foreclosure that HAFA will unleash.

Bank of America
 

  • Bank of America announced in March its commitment to participate in HAFA when it activates. It has been preparing for a more streamlined process for months though its support of HAMP
  • Bank of America's short sale processor Equator announced the launch of a brand-new best practices software workflow solutions directly related to HAFA2
  • Bank of America's HAFA website gives homeowners details on their support of the program

Citibank

  • Citibank is participating in HAMP, which is a requirement for participating in HAFA
  • CitiMortgage has launched a pilot Foreclosure Alternatives Program that assists its borrowers in avoiding foreclosure by offering a deed-in-lieu that allows homeowners to remain in their homes for six months after they agree to sign over their property deeds to CitiMortgage. The pilot program offers relocation counseling and a minimun of $1,000 in relocation assistance. Currently the program is available in Texas, Florida, Illinois, Michigan, New Jersey, and Ohio.3

GMAC Financial Services

  • GMAC has started a program to preemptively contact borrowers who are not eligible for loan modifications under HAMP and offering alternatives through HAFA and claims a three-day turnaround on short sale applications4

Wachovia

  • Wachovia is participating in HAMP, which is a requirement for participating in HAFA

Wells Fargo

  • Wells Fargo is participating in HAMP, which is a requirement for participating in HAFA
  • Wells Fargo has been ramping up efforts to assist homeowners by actively contacting those who are facing hardships5