Breaking news!
Today it was reported to congress, at end of 3rd quarter 2010, Home Affordable Foreclosure Alternative (HAFA) successfully completed 342 Short Sales or Deed’s in Lieu…report.
The HAFA program was introduced April 5, 2010…with Freddie Mac and Fannie Mae following up in August 2010 with their versions of HAFA.
OK…I’ll say it…thats just pathetic!
Why?
When you realize that in September 2010 U.S. banks foreclosed on 100,000+ homes…a record number of foreclosures, the 342 successful HAFA Short Sales and/or deed in lieus were processed…well, to say that HAFA is anything less than a failure would be kind hearted.
More to come…
