Home Affordable Foreclosure Alternative Program (HAFA)

  The Treasury Department recently released guidelines and forms for its new Home Affordable Foreclosure Alternatives (HAFA), which is part of the Home Affordable Modification Program (HAMP), designed to streamline and create incentives for short sale transactions for lenders and borrowers. This new program is effective April 5, 2010 and goes through... [Read more...]

Foreclosure -vs- Short Sale

 This chart will show the difference between a Successful Short Sale and a Forelcosure; and how each one will affect you:     Issue   Foreclosure   Successful Short Sale Future Fannie Mae Loan – Primary Residence (effective May 21, 2008) A homeowner who loses a home to Foreclosure is ineligible for a Fannie Mae backed mortgage... [Read more...]

The Illinois Foreclosure Process

Illinois Foreclosure Process Average time in Illinois is 321 days THE ILLINOIS FORECLOSURE PROCESS Illinois is a judicial state requiring court actions to foreclose a mortgage. A typical foreclosure action requires anywhere between 210 to 270 days to completely take away the homeowner’s ownership of the property. An important point to remember is... [Read more...]

Help for America’s Homeowners

This site will give you some very helpful  information to find the help that you need including a self assesment tool to see if you are able to qualify for this program www.Makinghomeaffordable.gov  Read More →