Home Affordable Foreclosure Alternatives

A federal government program was recently launched to encourage alternatives to foreclosures for homeowners who are experiencing financial hardship and are facing the loss of their home. The Home Affordable Foreclosure Alternatives (HAFA) program is intended to reduce the need for foreclosure proceedings through use of short sales, while forgiving homeowners of the price difference between what the house is sold for and what is owed on the mortgage.

If you are experiencing financial hardship and think you may be facing the loss of your home through foreclosure, having the support and advice of the Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C. can be a tremendous assistance. Contact our offices today at 443-546-4608 to learn more about your options and speak to a friendly lawyer.

Benefits of a HAFA Short Sale

With the new federal program there are a number of benefits and incentives for those who are approved for a short sale. These can include the following:

• The balance owed on the mortgage after the short sale will be forgiven.
• The seller will get up to $3,000 to help cover some of the expenses of the short sale or up to $3,000 in relocation assistance.
• The seller will not be forced to foreclose on the house, helping their personal credit tremendously.

These benefits were developed in order to aid in making short sales an easier and more attractive option for homeowners who are facing foreclosure and the loss of their home.

Contact Us

Foreclosure is a complicated and hard experience to go through and to recover from. If you are facing foreclosure of your home, it can be difficult to know what steps to take to protect your good name and wellbeing. Luckily, you do have options. Contact the Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C. today at 443-546-4608 to speak to a compassionate attorney about your situation.