What is a Certified HAFA Specialist?

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)  launched a program for real estate professionals to become Certified HAFA Specialists in California. The program was created in conjunction with AssetPlanUSA, a nationwide foreclosure alternatives solution provider. Program implementation date: April 5, 2010 

California was hit hard by the housing downturn, and many homeowner's are in distress.

This certification program identifies real estate professionals who have chosen to specialize in HAFA. The program will likely be the most important short sale program in the nation.

Short sales, are a foreclosure alternative and have become an increasingly important part of the California real estate market. Home Affordable Foreclosure Alternatives (HAFA) is a "Making Home Affordable" Initiative.  In these transactions, borrowers are allowed to sell their home for less than the full amount due on their loan.

HAFA is the first program to set nationwide standards for how short sale transactions should be conducted. The HAFA program should increase the volume and success rates of short sales and will set an important precedent for the market: Lenders should forgive the deficiency for borrowers who are forced to short sell due to documented financial hardship.

More than 100 servicers accounting for more than 90 percent of U.S. home loans serviced are signed up for the HAFA program, which is expected to be the largest short sale program in the nation!