Phoenix real estate homeowners have additional hope to avoid foreclosure with the advent of HAFA. Unfortunately, the mjority of homeowners currently allow their homes to be foreclosed without ever exploring their options. I personally hope they will take the time to educate and explore the many better options available to them other than foreclosure.

Let’s face it, as easy as it may seem to just walk away from a home, the haunt of a foreclosure goes on for years to come affecting credit and even employment, in some cases. Many people are not aware that foreclosure even can affect their security clearance levels and future employment. Foreclosure is certainly not the best option, particularly with the advent of HAFA and other alternatives.

Obviously, foreclosure can’t always be avoided, but knowing your options before going into “ostrich mode” would well be worth the time invested. In light of HAFA, which even provides relocation assistance money and eliminates the hovering concern of a deficiency judgment when a short payoff has been accepted, there should be no reason for distressed homeowners not to explore their options versus throwing thousands away.

One of my passions is to inform the public about their options to avoid foreclosure. I setup my Phoenix real estate “Home Rescue Network” website to do just that. Distressed homeowners who have negative equity or who are behind on their mortgage need to take the time to educate themselves. There is a comprehensive list of options to avoid foreclosure available on the site and a questionnaire to help determine eligibility for the new government programs.

With our National network of top agents around the country, we’re able to refer homeowners to the experts in their area to further educate and help them rescue their homes from the black hole of foreclosure. Homeowners or Agents who would like more information can contact me directly.

I believe HAFA will help simplify and streamline the use of short sales and the deed in lieu of foreclosure (DIL) options with the use of the top features HAFA provides including:

1. Providing financial incentives to borrowers, investors and servicers

2. Elimination of deficiency judgments by requiring servicers to release borrowers of future liability

3. The normally daunting short sale process will be standardized and streamlined by using standard processes, documents and timeframes

4. Complementing HAMP by providing workable alternatives to homeowners who are HAMP eligible

5. Financial and hardship information collected in HAMP will require no additional analysis on eligibility in HAFA

6. The homeowner will be allowed to receive pre-approved short payoff terms prior to the listing of the property

Homeowners with negative equity positions in their mortgages are at all time highs – over 11,000,000 (that’s about 24% of all properties with a mortgage) are upside down. HAFA results in providing borrowers a great option to avoid foreclosure through standardizing the process flow, minimizing the performance timelines and standardizing documentation of short sales will be anxiously awaited by me and countless others.

Learn more about Foreclosure Avoidance Options. Stop by Joe Martin’s site where you can find out all about HAFA and Avoiding Foreclosure and what your options are.