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• "I sent this letter certified after receiving the free guide [from] Phillips & Garcia P.C. Saved Foreclosure. Thanks a million!" A.D. from Colorado
• After seeing first hand what you are up against concerning the big banking companies, we are even more amazed that you are willing to fight the fight. The little guy needs your help and your fearless attitude. You are good people and true Americans. We are honored to be called your friends. R.R. - Mich., Lockout & Trashout Victim
• The attorneys were very professional and I felt as though they always had my best interest in mind. Without them I would have been pushed around and just another number to the bank. N.L., Wrongful Lockout Victim
• Thank you Mr. Phillips. If we hadn't found you the [Bank] would have foreclosed on our property and I can't imagine the misery that they would have caused. S.N. - Arizona

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What is HAFA?

A:

The Home Affordable Foreclosure Alternatives, or HAFA, is a program that was designed to help prevent home foreclosures. HAFA does this by offering incentives to lenders who administer short sales or a deed-in-lieu of foreclosure.

What is a short sale? And what is a deed-in-lieu of foreclosure?

A short sale occurs when a borrower cannot afford to pay the mortgage on their property, and sell their home for less money than they owe. This must be approved by the lending institution before the sale takes place.

With a deed-in-lieu of foreclosure, a homeowner transfers the deed on a property to the lending institution.

How can HAFA benefit me?

HAFA can benefit you by giving you a reasonable alternative to foreclosure. It basically places limits on the lender, so that if you participate in the program:

• The lender must release you from all future liability for the first mortgage debt
• The lender cannot ask you for money or a promissory note
• The lender cannot ask for a court deficiency judgment

Additionally, if you participate in the HAFA program, you may be eligible to receive up to $3,000, which can be used to assist you with your relocation.

Am I eligible for HAFA?

You can participate in the HAFA program with permission from your lender. You may be eligible if:

• You have missed 2 or more of your mortgage payments
• If you meet several criteria that are required by the Making Home Affordable Program guidelines

A note of caution about HAFA: many homeowners have experienced resistance from their lending institutions in regards to participating in HAFA, or have still encountered foreclosure even after enrolling in the program.

There are banks and lenders who will knowingly violate the terms of HAFA, which leaves unsuspecting homeowners in the lurch. Additionally, participating in HAFA may have negative consequences on your credit score. Be aware of your rights and keep careful records of what your lender says and does in relation to modifying your loan.

Contacting a Massachusetts Foreclosure Attorney 

If you are considering filing for a wrongful foreclosure case but aren't sure how to proceed, contact the Massachusetts foreclosure attorneys at Phillips & Garcia to schedule your legal consultation today - 1-877-892-5620.

Legal Help for Wrongful Foreclosure and Seizure in Any State.  Phillips & Garcia, P.C., a leading law firm in wrongful foreclosure and seizure cases, is now taking cases in any state where there has been a wrongful foreclosure, lock-out and trash-out of a borrower's home.  We are licensed in Massachusetts and associate with a qualified attorney in your state. 

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