Benefits of a Home Affordable Foreclosure Alternative (HAFA) Short Sale in Utah

• Deficiency is waived
• Homeowner can receive $3,000 at closing for relocation assistance
• No cash contribution or promissory note required
• Foreclosure process put on hold

HAFA requirements for eligibility

• Homeowner is delinquent or default is reasonably foreseeable
• Homeowner has a documented hardship
• Homeowner has:
• Exhausted all modification options, and/or
• Decided to pursue a short sale or deed-in-lieu of foreclosure
• Property is the homeowner’s primary residence
• Property can be vacant or rented up to 12 months prior to the Short Sale Agreement, as long as the borrower can prove the property was the primary residence and has not purchased another home in the last 12 months
• First Mortgage was originated on or before January 1, 2009 and is less than $729,750
• Homeowner has not been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering, or tax evasion, in connection with a mortgage or real estate transaction.

To find out if you are eligible for a HAFA short sale in Utah, contact us by Phone at 866-297-3883 or email at info@shortsaleadvocate.cc.