HAMP Scorecard
The Making Home Affordable (MHA) and Home Affordable Foreclosure Alternatives (HAFA) Programs provide borrowers an alternative to foreclosure through a short sale or a Deed-in-Lieu. According to the scorecard (CLICK LINK BELOW) a loan modification was NEVER a GUARANTEE. To stop a foreclosure a short sale is the only and Best Guarantee that the banks have offered till now to you the homeowner.

Bankruptcy will only stop a foreclosure (A temporary stall. Your home will be placed on foreclosure sale again) and will not help in modifying your loan. It will also affect your credit more than a clean short sale.

Do not listen to what the news say or what organizations like NACA promise you. It is only to get you to continue making some kind of payment on your home. The banks are only trying to protect their own interest. According to the numbers in the scorecard (SEE BELOW) modifications do not work. The most important thing to remember is that if your loan modification has been declined it is simply due to the fact that your property has declined in value more than what an investor is willing to lose.

California is the number 1 affected state in the country. Stay ahead of the tidal wave of foreclosures that are about to hit the California shore. You deserve a 2nd chance. Do not let this opportunity to start over pass you by. This program expires 12/31/2012.

As of February 1st 2011 the HAFA short sales
1. no longer require full income or asset verification.
2. the property no longer must be owner occupied at the time of sale, but must have been owner occupied in the previous 12 months.
HAMP Scorecard