Government HAFA Program

MHAlogoGovernment Financial Assistance

The Home Affordable Foreclosure Alternatives (HAFA) Program is the government’s newest tool to help homeowners avoid foreclosure. HAFA provides incentives for lenders and homeowners to carry out a short sale. The program provides key benefits to homeowners electing to complete a Short Sale including:

  • Payment of a $3,000 relocation allowance
  • Forgiveness of all “short” debt.
  • Guarantee waiver of deficiency judgment
  • Short consideration and/or approval time frames required by your lender.

In order to qualify for a HAFA approved short sale, your original mortgage must be federally insured by Fannie Mae or Freddie Mac. Use this convenient look up tool to see if your loan qualifies.

 Additionally, you must meet the following qualification criteria:

1. The property must be your principle residence?
2. The “first lien mortgage” must have originated on or before January 1, 2009?
3. Is your mortgage delinquent, or is default (missed payments) reasonably foreseeable?
4. Your current unpaid principal balance must be equal to or less than $729,750?
5. Have can not have purchased another residential property within the last 12 months?

 For more information, visit