Agent Profile
I am a top ranked agent serving the Portland area for over 20 years specializing in residential real estate sales and investments. I created this site as a real estate resource for buyers and sellers who want to be well informed about current inventory and pricing. If you are interested in actively tracking the market, please sign up to receive my daily listing email. We map every new listing each day then update the neighborhood maps. The map is emailed to you...simply click a neighborhood to see the listed properties for sale, complete with pictures, price and address. Agency Info
RE/MAX Equity Group
5800 Meadows Road, Suite 100
Lake Oswego, OR 97035
Home Affordable Foreclosure Alternatives Program
Since the nation has been having trouble in the housing and real estate markets, the government has decided to take steps towards making homes more affordable. The first step was the home buyer tax credit and the extension of the credit.
The government has now taken a new step to lower payments for distressed homeowners and those who are having trouble paying their mortgage. The new program is known as the Home Affordable Foreclosure Alternatives Program (HAFA), which is part of the Home Affordable Modification Program (HAMP).
Here are some of the HAFA’s benefits:
- Borrowers will receive $1,500 in relocation expenses from the U.S. Government
- Loan Servicers will receive $1,000 from the US Government per transaction that they process
- 2nd lien holders will receive up to $3,000 of the sale proceeds for releasing their liens
- 1st lien investors can receive up to $1,000 from the US Government for “signing off” on payments that subordinate lien holders
- Borrowers must be “fully” released” from any and all further liability
The program will not take effect until April 5th, 2010 and is expected to run until December 31st, 2010.
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