Home Affordable Foreclosure Alternatives Program

In 2009, the Treasury Department introduced the Home Affordable Foreclosure Alternatives (HAFA) program to provide a viable option for homeowners who are unable to keep their homes through the existing Home Affordable Modification Program (HAMP). The HAFA program took effect on April 5, 2010 and ends on December 31, 2012.

HAFA Program: Guidelines and Forms

HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP are also required to comply with HAFA. A list of servicers participating in HAMP (including HAFA) is available.

To view the full list of HAFA provisions, visit NAR's HAFA page.