Less than $10 million of the proposed $4 Billion has been dispersed to help homeowners compete >8,500 short sales in the first year and is expected to end in December 2012...maybe sooner if not any more help.
Are lenders cooperating? Do they have to? It depends on who owns the mortgage and if that investor wants to cut their profit or take the asset and try and sell it.
Source: http://realestate.bryanellis.com/4910/hafa-still-lagging-ineffective/
Explanation of the program: http://www.freddiemac.com/singlefamily/service/hafa.html
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
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