The Home Affordable Foreclosure Alternatives Program is the single most important short sale initiative produced by the government for today’s housing crisis. We want everyone to be prepared when it comes out.
Austin, TX (Vocus) April 5, 2010
The Distressed Property Institute, LLC has launched Understanding HAFA (http://www.cdpe.com/hafa), an exclusive online resource on the new Home Affordable Foreclosure Alternatives (HAFA) Program set to begin April 5, 2010. In an effort to reach the entire industry, the Distressed Property Institute has made its resources widely available for free to anyone who visits the Understanding HAFA website.
On April 6, 2010, the Institute will host “HAFA Decoded,” a free live broadcast aimed at educating the entire real estate industry on HAFA. Hosted by Alex Charfen, co-founder and CEO of the Institute, “HAFA Decoded” will be a step-by-step walkthrough of the program with detailed information on processes, forms, requirements and commonly asked questions.
“We have been working around the clock since HAFA was announced to gather the most up-to-date information possible,” Charfen said. “Reading government documents, asking the right questions, doing what it takes to make every detail of this complicated program make sense to homeowners and the real estate professionals who can help them.”
As a requirement for a short sale under HAFA, homeowners must be aided by a real estate professional in listing their home. In a short sale transaction, the lien holder accepts the selling price of the home, even if that amount is less than (“short” of) the borrower’s mortgage balance. This foreclosure avoidance option is less harmful to a homeowner’s credit score, is less likely to challenge employment or security clearance, and provides the possibility of future homeownership in a shorter period of time.
“We created Understanding HAFA and ‘HAFA Decoded’ to make sure that everyone involved in the HAFA process knows how it works, what the benefits are, and how it can save homeowners in distress,” Charfen said. “The Home Affordable Foreclosure Alternatives Program is the single most important short sale initiative produced by the government for today’s housing crisis. We want everyone to be prepared when it comes out.”
With its new HAFA initiative, the Distressed Property Institute has reaffirmed its dedication to being at the forefront of the government’s new housing programs and delivering accurate information to real estate professionals and homeowners.
To register for “HAFA Decoded,” visit: http://www.cdpe.com/webinar/hafa/100406.html
About the Distressed Property Institute, LLC
The Distressed Property Institute trains real estate professionals to engage with and assist homeowners facing hardships. The Institute has developed a curriculum to provide the tools and knowledge to handle distressed properties, including short sales, deeds-in-lieu, mortgage modifications, forbearance, refinances, reinstatements and, if that fails, how to help homeowners through the foreclosure process. After completing a comprehensive on-site or online course, graduates are awarded the Certified Distressed Property Expert® Designation.
About the CDPE Designation?
The CDPE Designation provides real estate industry professionals with detailed information on how to engage with and assist homeowners in distress. The CDPE designation has been endorsed by RE/MAX International, Keller Williams Realty and other major U.S. brokerages, as well as industry icons such as: Brian Buffini, founder of Buffini & Company; Howard Brinton, founder of STAR POWER® Systems; Allen Chiang, Chairman of the Asian Real Estate Association of America (AREAA); Tino Diaz, Chairman and President of the National Association of Hispanic Real Estate Professionals (NAHREP); Dave Liniger, chairman and co-founder of RE/MAX; and Joe Stumpf, founder and national spokesperson of By Referral Only®.
For more information about The Distressed Property Institute and the CDPE Designation, visit http://www.cdpe.com.
Contact: The Distressed Property Institute, LLC
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