---

Wcich is better, the HAFA program or going with a deed-in-lieu of?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
lapthorne5 Joined: 15 Jun 2011 Posts: 1 1.35 Dollars($)	Posted: Wed Jun 15, 2011 2:31 pm    Post subject: Wcich is better, the HAFA program or going with a deed-in-li Like 0 Dislike 0 Which is better, the HAFA program or the deed-in-lieu-of? And if we did go with the deed-in-lieu of, under the new law, the debt forgiveness act, will we still have to pay the state "deed" tax? We are at the foreclosure stage and have worked out options with our lender but are not sure what is to our best advatage credit wise and tax wise??? We did refinance with some cash out, but how do you prove that you used the money for home improvements? With reciepts? And we have had two different appraisals, $150,000 apart. One said that they were told to only look at certain things, why would the lender do that and make the value so low? HELP!!!!
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Wed Jun 15, 2011 9:53 pm    Post subject: Like 0 Dislike 0 Hi lapthorne, You're facing foreclosure. In such a situation, I don't think you'll qualify for a refinance. I personally feel that a deed in lieu of foreclosure is a better option than HAFA program. With the help of a deed in lieu of foreclosure, you will be able to get rid of the property. After a deed in lieu of foreclosure, the deficient balance resulting from the sale of the property will be forgiven by the lender. Thanks

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0