UNDERSTANDING

HAFA

Presented by

Gul Iranpur
Maazda Realty
 WHAT IS HAFA

 HAFA is the Government’s newest program

put in place to benefit homeowners who do
not qualify for HAMP assistance. Released in
April 2010, this program is designed to
expedite foreclosure avoidance options for
homeowners in need. By promoting the
swift execution of a short sale or deed-in-
lieu, HAFA can potentially save millions of
homeowners from the financially devastating
event of foreclosure.

GUL IRANPUR
Contact No.1-888-789-6778
http://LaCountyAvoidForeclosure.com
 WHO IS ELIGIBLE FOR THIS HAFA
PROGRAM
 In order to qualify for the HAFA program, you first have to meet the
initial HAMP criteria.

 Be delinquent on your mortgage or face imminent risk of default.

 Occupy the property as your primary residence.

 Have mortgage originated on or before January 1, 2009.

 Have an unpaid principal balance no greater than $729,750 for a

single family residence and have total monthly mortgage payments
exceeding 31 percent of your gross income.
 HOW CAN HAFA HELP ME
 HAFA can potentially save you a lot of grief and
heartache. Currently, short sales can be a
lengthy transaction, making it difficult for
potential buyers of your home to remain in the
process.
 The program requires participating lenders to
determine what they are willing to accept before
dealing with a short sale request – similar to
other pre-approval processes.
 HOW TO APPLY FOR THE HAFA
PROGRAM
 Homeowners interested in utilizing foreclosure
alternatives under HAFA program OR if you are a
homeowner looking for answers OR would like to
determine if you qualify for the HAFA program,
prior to contacting your mortgage lender, you
can visit our web site
www.LaCountyAvoidForeclosure.com and click
on Government Program Eligibility and fill out
the mini questionnaire and enter submit. This
will prompt you if you qualify for HAFA program.
WHAT IF I DO Qualify for HAFA
 If you qualify for HAFA PROGRAM it will prompt you to
gather all your documents
 2 years of tax returns
 2 months of Bank Statements all pages all accounts
 1 Full month of paystubs if you are employed
 P&L Statement if you are self employed
 Hardship letter
 Financial statement filled out
 Keys to the property and call your bank.
 If you still need help in getting started contact us at

1-888-789-6778
WHAT IF I DO NOT QUALIFY FOR
HAFA
 If you do not qualify for HAFA program than you
have a choice to make to sell the house (short
sale) the property is sold for less than the
mortgage amount in order to avoid the
foreclosure process or Deed-In-Lieu of
foreclosure, the property is given fully to the
lender because the homeowner can no longer
make payment, and the property is then sold to
retrieve part of the loan balance owed, or
Foreclosure.
 Analysis for Sellers
Short Sale VS.
 I will negotiate your
settlement
 Avoids Foreclosure
 Salvage Credit
 You pick move out date
 No closing fees
 Can Restore Credit
Quickly
 Can purchase again
within 2 years
Foreclosure
 Court Settlement
 Deficiency Judgment
 Credit Destroyed for
7 years
 Kicked Out/Evicted
 BIG Attorney fees
 May have to file for
Bankruptcy
 Must wait 7 years to
purchase again

GUL IRANPUR
Contact No.1-888-789-6778
http://LaCountyAvoidForeclosure.com
 SUMMARY
 This HAFA Program offers a set of
guidelines and financial incentives to
lenders in order to streamline and simplify
the short sale process and deed-in-lieu of
foreclosure process.
 The program is overseen by the
U.S.Treasury department administered by
Fannie Mae and executed by participating
lending institutions.
 What to do Next?
 Decide what is best for your family.
 Can you afford to stay or is it best to Sell?
 Do you qualify for a Loan Modification?
 Create an action plan NOW, and get started
 Get your financial documents together
 Get your home on the market and find a
buyer for your home
 Avoid judicial foreclosure & MOVE ON with
your Family

GUL IRANPUR
Contact No.1-888-789-6778
http://LaCountyAvoidForeclosure.com
 How Can We Help You
 Maazda Realty and my team will assist homeowners facing financial
hardships by exploring their options, so that they may save their
homes. We are trained in understanding your situation and
presenting it to the bank. We are experienced Short Sale and HAFA
specialists certified through CDPE to handle the transactions.

 If you are a homeowner looking to see if you qualify for HAFA

program and looking for help, contact us at 1-888-789-6778 or visit
our website www.LaCountyAvoidForeclosure.com.

 We are confident this information has answered your concerns and

will assist you to make the right decision.

 HELPING AND EDUCATING ONE HOMEOWNER AT A TIME

What Our Clients Have to Say…
“Gul, Thanks for all the time you spent
helping us get out of our situation &
getting our home sold. We trusted your
advise and know that you helped us
make the best decision. We are happy
that we can move on and in a few years
we will certainly be calling you to buy
another home. Thanks to you and your
staff.” -Maricella and Rodelle.

GUL IRANPUR
Contact No.1-888-789-6778
http://LaCountyAvoidForeclosure.com