California Short Sale Update: HAFA Changes Go Into Effect February 1, 2015

On October 30, 2014, Supplemental Directive 14-04 (“Directive”) was issued modifying certain provisions of Version 4.4 of the Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages (“Handbook”).  Among the revisions to the Handbook were substantial changes to the Home Affordable Foreclosure Alternatives® (HAFA) Program. One of the key components to HAFA is the relocation assistance provision that allows homeowners to receive up to $3,000 to assist with the costs of relocating.  Effective February 1, 2015 the Directive increases the Click for More →

Get Up To $5,000 From Keep Your Home California Transition Assistance Program (TAP)

I just received an email from Bank of America’s Short Sale Department stating that borrowers desiring to short sell their home may be eligible to receive up to $5,000 in relocation money from the Transition Assistance Program (TAP), part of the Keep Your Home California Program.  For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other pre-offer short Click for More →