The Home Affordable Foreclosure Alternatives program, under the U.S. Treasury Department, launched on April 5, 2010.  What does HAFA mean for today’s home owners?  This was signed in conjunction with the Home Affordable Modification Program (HAMP) under the Obama Administration to hopefully revitalize the housing market.

It’s no secret if you’ve been in the housing market any time after 2007, the short sale process as a buyer or seller can be a bear of an experience.  I’ve seen stressed out faces on both sides of the deal, including my own.  For those of you reading this, who don’t understand what a short sale is, you can learn more here.

Simply stated, HAFA helps owners sell their home (hopefully) more quickly by giving them pre-approved short sales before they hit the market.  In a perfect world, this would already be happening, but with the tsunami of short sales in the recent years banks didn’t have infrastructures set up for this.

As weird as this is for my own blog, the short sale LISTING process takes a special talent.  I shine on the short sale BUYER process; so, if you’re a seller looking for navigation through the short sale process, let me give you the names of the agents I have worked with who do a good job with homeowners in short sales (at the bottom of this blog).

If you’re a buyer, this is where I shine as an agent for a buyer.  I know how to navigate the process in a win-win working relationship with the seller’s agent.  You will be most served as a BUYER with the HAFA program because that mysterious time of not knowing whether the short sale is approved yet or not may be over.  Keep in mind, not every bank is taking part in the HAFA program.  This will be an important part of your agent’s job to navigate in the right direction for successful closing.

Here are some links that might help:

HAFA Short Sale Rules, Guidelines and Qualifications

Financial Stability

Making Home Affordable

Nashville REALTORS Who Are Good Sellers Agents for Short Sales