Springboard Nonprofit Consumer Credit Management, a U.S. Department of Housing & Urban Development (HUD)-approved housing counseling agency, has announced the offering of an online resource center where real estate agents can find the latest information on the Home Affordable Foreclosure Alternatives (HAFA) Program, and request HAFA application assistance for their clients through the agency's R.A.P.I.D. (Realtor Appointment Processing In Demand) Center. The HAFA Program goes into effect April 5, 2010 and is designed to help homeowners who are unable to retain their home under the Home Affordable Modification Program (HAMP), by providing incentives for relocation in connection with short sales and deeds-in-lieu of foreclosure.
The Obama Administration's Making Home Affordable Program includes opportunities to modify or refinance eligible mortgages to make monthly payments more affordable. It also includes the Home Affordable Foreclosure Alternatives Program for homeowners who are interested in a short sale or deed-in-lieu of foreclosure. Those homeowners who can't save their home through a HAMP modification could benefit from a structured transition program that HAFA provides.
To assist real estate agents, Springboard is offering an online HAFA resource center located at www.HomeOwnership.org, where they can get the latest HAFA short sale guidelines and request priority appointments through the agency's RAPID Center for their clients to speak with a Springboard counselor. Springboard counselors are trained to help homeowners understand and apply for the HAFA program by working directly with lenders.
"We anticipate that Realtors will have questions about the HAFA program and whether their clients qualify," said Melinda Opperman, Springboard's senior vice president of community outreach and industry relations. "We're pleased to serve as a resource to Realtors by providing the latest information to them and also working with homeowners to confirm program eligibility."
For more information, visit www.credit.org.