The Approval Experts | San Diego Real Estate | Short Sales

What is HAFA:

HAFA is newly instated government-subsidized plan to give homeowners additional alternatives. HAFA, which stands for Home Affordable Foreclosure Alternatives, is a program designed for distressed homeowners who would like to sell their homes and avoid a foreclosure. This is program is for homeowners who owe more on their mortgage than the actual value of the home. What HAFA does is allow a participating lender to pre-approve the terms of the short sale and give the borrower at least 4 months to market and sell the property under a licensed real estate professional.

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California is taking some big steps this year to continue driving up homes sales in California while enticing home builders. In May California will roll out a $200 million dollar tax credit available to home buyers in the form a $10K tax credit. This program is sure to be hit with those in the market looking to buy a home. This tax credit is aimed to getting home builders to ramp up on the construction forefront.

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