What is a HAFA short Sale? A HAFA short sale is the sale of your home for less than the amount of your loan through a special government program.It is true, there is an incentive for participating. Up to $3000 relocation assistance.

Is the HAFA short sale process different then a normal short sale? Yes, with a HAFA Short Sale the process is the same with every lender. This alls the borrow to receive pre-approved short sale terms prior to listing the property through the Request for Modification Affidavit (RMA), and it uses Standardized documents.

How to I find out if I qualify for a HAFA Short Sale? First you must determine who owns your loan. Is this a Fannie Mae, Freddie Mac or non-GSE? Below is a link to look up who has your loan:

Service Look Up: www.Makinghomesaffodable.gov/contact_servicer.html

Fannie Mae: www.Fanniemae.com/loanlookup

Freddie Mac: www.Freddiemac.com/mymortgage


  • Must be or recently have been borrower's principal residence;
  • Property has been primary residence in the last 12 months
  • Loan must be delinquent or default (60days) with Feddie Mac but does not have to be delinquent for Fannie Mae.
  • Borrower can not have cash reserves that are equal or over three months total monthly payment and/or $5,000 which ever is greater.
  • Borrower's 1st loan monthly mortgage payment must be greater then 31% of their gross income.
  • Principle residence / owner occupied and or vacated within 90days due to 100+ mile move for employment reasons.
  • First loan must have originated on or before January 1, 2009
  • Borrow must be able to show financial hardship
  • Borrower's current unpaid 1st loan principal balance is equal to or less then:
  • 729,750 for a single family
  • 934,200 for a two unit
  • 1,129,250 for a three unit
  • 1,403,400 for a four unit