The U.S. Treasury has just released the latest numbers on short sales and deeds-in-lieu completed through the Home Affordable Foreclosure Alternatives program. Through the end of February 2011, 4,488 homeowners completed a short sale or deed-in-lieu under the HAFA program. In addition to the completed short sales and deeds-in-lieu, the report shows that 10,177 homeowners have tentative agreements in place with their servicers to complete the transactions under HAFA.
Under the HAFA program, eligible homeowners who are unable to afford their current monthly mortgage payment and are "interested in transitioning to more affordable housing" receive a one-time, $3,000, payment to aid the homeowner in relocating in exchange for completing a short sale or deed-in-lieu. The Treasury report also includes the newest statistics on the much-maligned Home Affordable Modification Program. Since the program began in 2009, over there have been over 1.5 million trial modifications started but more then 746,000 of those modifications have been cancelled.
If you are facing a Florida Foreclosure Lawsuit and one of the foreclosure alternative programs has failed you, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today for a complimentary case review.
To view the entire Treasure report click here.
