Licensed Real Estate Broker

If you are facing the loss of your home, Attorney Kelbel has the knowledge concerning real estate and other complex legal issues. As a licensed real estate broker, she has the credentials to help you through this difficult time.

The Benefits of HAFA Foreclosure Alternatives

For those of us who are struggling to honor their mortgage payments to Fannie Mae or Freddie Mac, there are powerful and favorable new alternatives to a standard foreclosure. The Home Affordable Foreclosure Alternatives (HAFA) Program offers these homeowners specialized short sale and Deed-in-Lieu (DIL) options that can protect their credit and even provide relocation assistance for them and their loved ones.

In a HAFA short sale, the homeowner is allowed to sell their home for less than what is owed on the mortgage. Alternatively, the DIL option allows the homeowner to give the title to the mortgage company, effectively transferring the ownership back to them.

How do these options help?

The HAFA foreclosure options are beneficial to homeowners for a number different reasons. These benefits not only help facilitate the foreclosure process, but even allow the homeowners to move on with their lives with as little burden as possible.

HAFA foreclosure benefits include:

  • Assistance from a HUD-approved a housing counselor
  • Complete mortgage debt forgiveness following a short sale
  • Collaboration with mortgage company on setting a short sale price
  • Reduced credit score effects
  • Eligibility for $10,000 of relocation assistance from HAFA

Am I eligible for the HAFA options?

Not all homeowners are eligible for these HAFA options. This program is in accordance with an agreement with the government and Fannie Mae and Freddie Mac and certain conditions must be met for a homeowner to take part.

HAFA foreclosure options are available to homeowners who:

  • Have a mortgage through Fannie Mae or Freddie Mac
  • Have documented financial warship
  • Have a first mortgage that is less than $729,750
  • Have not purchased a new house in the last 12 months
  • Have obtained their mortgage on or before January 1, 2009
  • Do not have a theft or white collar felony conviction in the last 10 years

Have more questions? Then it may be time to speak with HAFA, your mortgage servicer, or a dedicated Milwaukee debt relief attorney. At Kelbel Law Offices, we have committed our entire firm to helping our clients navigate their debt or foreclosure with confidence. We have the knowledge, experience, and compassion to help you complete this process and ensure that you stand to gain the very most from these HAFA options.

A new chapter of your life is waiting—and we can help you greet it with confidence. Contact our firm today for a free consultation.