I'm loosing my home for sure. Since I don't qualify for HAMP I'd like to apply for HAFA (Home Affordable Foreclosure Alternative) and see if I can get the $3,000 for relocation expenses. I recently read this:
Eligibility Requirements for HAFA Short Sales
Once the borrower is rejected for a loan modification through the HAMP Program, the borrower is then eligible to apply to the HAFA Short Sale program or pursue a Deed in-Lieu-of Foreclosure. Since I don't know why anybody in their right minds would do a deed in-lieu, I'll stick to the short sale process. HAFA will preapprove the price of that short sale and give the seller 4 months to sell the property through a real estate agent.
Her are my questions: I would like to do a deed-in-lieu instead of a short sale, but it seems like I'd have to be out of my mind? Why is that? What's wrong with a deed-in-lieu for the $3,000 relocation payment?
Eligibility Requirements for HAFA Short Sales
Once the borrower is rejected for a loan modification through the HAMP Program, the borrower is then eligible to apply to the HAFA Short Sale program or pursue a Deed in-Lieu-of Foreclosure. Since I don't know why anybody in their right minds would do a deed in-lieu, I'll stick to the short sale process. HAFA will preapprove the price of that short sale and give the seller 4 months to sell the property through a real estate agent.
Her are my questions: I would like to do a deed-in-lieu instead of a short sale, but it seems like I'd have to be out of my mind? Why is that? What's wrong with a deed-in-lieu for the $3,000 relocation payment?