The HAFA short sale-aside from the avoidance of foreclosure, the elimination of mortgage debt and the $3,000 relocation benefit, HAFA short sales may offer some additional benefits.
Current lending guidelines may allow a “fresh  start”.    A  borrower  may  be  eligible  to  borrow or to own a home again sooner through a short sale as compared to foreclosure. Fannie  Mae’s lending guidelines favor those who proactively address their situation rather than avoiding the situation they are experiencing.
Borrowers may be able to buy again by re-establishing a credit history as soon as two years after short sale vs. seven years after foreclosure (but only three years if borrower has extenuating circumstances) under Fannie Mae guidelines.
In this video I explain the benefits of a HAFA short sale including the $3,000 relocation incentive. I also explain the HAFA short sale guidelines and how to qualify for a HAFA short sale. For more information visit. http://www.losangele