Bryan Dais's (bryanldais) Blog

Supplemental Directive 12-07 initiated a number of changes to the HAFA (Home Affordable Foreclosure Alternatives) short sale program, which will take effect Feb. 1, 2013.  HAFA was instituted in 2009 by the U.S. Treasury Department. Along with several changes discussed in previous posts on this s...

  When the buyer of a short sale is a Limited Liability Company (LLC) or Corporation, there are specific documents that must be completed. Typically we see this type of buyer when there is an investor making an offer on a short sale property. If required documents are not provided, the short sale...

Getting behind on your Denver Home Loan may feel like the world is coming to an end, but it’s not. However, there are several things that you should not do if this occurs. First of all, you are in good company. Around 25% of homeowners are in some stage of delinquency or under water on their mort...

  Supplemental Directive 12-07 Treatment of the Hardship Affidavit is another significant change to the HAFA (Home Affordable Foreclosure Alternatives) Short Sale Program, administered by Laurie Maggiano’s office of the US Treasury Department. As mentioned in prior posts related to this topic, th...

The US Treasury Department’s original purpose initiating the HAFA (Home Affordable Foreclosure Alternative) Program was to develop guidelines for a single Short Sale Program for lenders, investors, and their servicers to use in assisting Borrowers with a Hardship to Avoid Foreclosure. One of the ...

Originally when the HAFA program was initiated by the Obama administration via the U.S. Treasury Department, the  GSE’s (Fannie Mae and Freddie Mac) refused to participate. This seemed a little strange to most of us involved in the Short Sale industry since the GSE’s are considered by most to be ...

Congress Grants Extension For One More Year Of the Mortgage Debt Relief Act!   Before leaving office in 2007, President Bush signed into law the Mortgage Forgiveness Debt Relief Act, which was originally passed to aid the millions of homeowners who suddenly found themselves in danger of losing th...

The treasury department has initiated another overhaul of the HAMP (Making Home Affordable Program) which includes changes to the HAFA (Home Affordable Foreclosure Alternative) Program. This is the part of the program that oversees Short Sales as an alternative to Foreclosure. HAFA is the governm...