The number of new modification agreements under the Department of the Treasury’s Home Affordable Foreclosure Alternatives program is accelerating. HAFA, which is an additional option for homeowners that no longer qualify for the Home Affordable Modification Program, recorded 2,089 short sales and deeds-in-lieu of foreclosure in March, accounting for 16% of the total transactions recorded since it launched in April 2010. In addition, 1,000 transactions were completed in March out of the 12-month total of 5,447.
HAMP Alternative Transactions Accelerate
The number of new modification agreements under the Department of the Treasury’s Home Affordable Foreclosure Alternatives program is accelerating, reports Housing Wire.
May 23, 2011
