http://www.housingwire.com/2010/10/27/market-questions-sigtarp-numb...
Anyone else see this?
From April 5 to Sept 30, lenders completed 342 short sale and DIL's in the HAFA program and have recieved 1.6 million in TARP funds.
Since April 5, there have been 117,000 HAFA short sales initiated on Equator.
Looks like more smoke and mirrors from our great government! What a joke.
342 HAFA short sales in 5 months, someone is asleep at the wheel
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If there is a 2nd or other encumbrance, probably no HAFA (because of the 6% rule).
If MI, then probably no HAFA (becuase the MI company must approve)
If insolvent, HAFA has limited value (because a BK will extinguish the deficiency, if pursued)
Gotta find the elusive HAFA segment: Relatively affluent among the HAMP eligible, with a 1st only, and no MI.
Jeff,
This post of for you...Here is the 4/6/2010 DSNews summary of HAFA at time of birth:
4/6/2010 The administration's Home Affordable Foreclosure Alternatives (HAFA) program is in effect, and players from every corner of the industry are teaming up and working in unison to help ensure the short sale program's success. The Treasury's Laurie Maggiano tells DSNews.com that major servicers are ready, with dedicated staff on hand to handle the influx of short sale requests. And some of the biggest players, like Bank of America, are taking it one step further, partnering with technology firm Equator and RE/MAX agents to hit the ground running.
I especially like the phrase "working in unison to ensure...success", perhaps we should replace "in unison" with "in a vacuum".
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