Well, it's official. Fannie Mae and Freddie Mac just announced the introduction of their own HAFA programs. They’re both scheduled to be implemented by August 1, 2010, and the programs are very similar to HAFA in that they simplify and streamline the use of short sales and deed-in-lieu (DIL) options and use similar forms and timelines. In addition, like HAFA, the program expires December 31, 2012. Now, if you have a Fannie Mae OR a Freddie Mac backed loan you may be eligible for thier HAFA program. The original HAFA program that was rolled out in April was only for non-GSE loans (GSE=govt service entities).
One major difference to you as a seller is the option of: The Deed for Lease (D4L). It is available for borrowers who request and are approved to remain in the property following a successful DIL.
If you are not sure if you have a GSE or Non-GSE loan and would like to know what your options are, please call or email me right now.
561-602-1258
Click here to email instead - be sure to include your full contact info and your address
Thanks
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