Home Affordable Foreclosure Alternatives Program (HAFA) effective April 5th
On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is part of the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP are also required to comply with HAFA. A list of servicers participating in HAMP is available at MakingHomeAffordable.gov.
Read more:
http://kathleeninarizona.com/archive_details.php?arch=794
116,000 loan modifications successful so far, thousands more to go:
http://kathleeninarizona.com/archive_details.php?arch=793
Thursday, February 18, 2010
Airzona Foreclosure Bills to help protect homeowners
Arizona Foreclosure bills to protect homeowners
Arizona Democrats have introduced legislation to tackle the state's foreclosure crisis and to protect homeowners.
• HB 2715 would give homeowners facing foreclosure another 60 days to work out a loan modification.
• HB 2740 calls for allowing renters in homes that are in foreclosure to stay in the house and continue to pay affordable rents, and for homeowners who lose homes to foreclosure to remain as renters.
• HB 2766 requires a landlord to give a renter at least 30 days' notice if they have to move out of a foreclosure home.
• HB 2321 requires homes be maintained during foreclosure.
• HB 2739 creates a mandatory mediation program for those facing foreclosure that would be supervised by the Arizona Supreme Court.
Wednesday, February 3, 2010
Tenants renting a property in Foreclosure can stay
Under federal law, a tenant is generally entitled to stay in the rented premises after a foreclosure sale until the term of the lease expires. The lender or third-party buyer at the foreclosure sale, however, has no obligation to refund the security deposit when lease expires.
Tenants ask an attorney:
http://kathleeninarizona.com/archive_details.php?arch=790
Tenants ask an attorney:
http://kathleeninarizona.com/archive_details.php?arch=790
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About Kathleen Mazzocco
- Kathleen Mazzocco, Realtor in Anthem, AZ Relocation to Scottsdale, AZ
- Scottsdale, AZ, United States
- Kathleen has worked with a variety of clients and employees from across and outside of the country, and this has given her a firm grasp of all the details that need to be considered when buying a home in Scottsdale, Anthem, or other areas of Phoenix, Arizona. Kathleen is a AZ Corporate Relocation Professional, and Buyer's Agent. She doesn't just help you find the home you want, she also insures that you're settling in well and that you have all the information you need in order to enjoy the highest-quality lifestyle Arizona has to offer. Begin your plan moving to Arizona with Kathleen today. It's a buyer's market right now, so there are great opportunities for you to land the home of your dreams for much less than you ever imagined possible. Acquiring property foreclosures, short sales, and bank owned homes are ways you can save in today's market. As Certified Distressed Professional she can negotiate the best possible price and terms for you. Please browse through Kathleen's website and let Kathleen Mazzocco help you come home to Arizona,search the newest home listings at www.KathleenInAZ.com.