Home Affordable Foreclosure Alternatives (HAFA) – Bank approved listings are getting ready for market.
When the Treasury Department rolled out their HAFA plan, part of their Making Homes Affordable Program, agents like myself had guarded optimism about HAFA expediting the short sale process. Well, it hasn’t quite played out like that.
My first HAFA listing was submitted in September. In theory, after presenting all the seller’s information to the underwriter, the bank has 14 days to approve the sale, get a valuation for the property, and give me the price.
Well, it has been three months on my first HAFA submission, and we’re still waiting. The banks were simply deluged with applications because the HAFA program mandates that the bank waives its right to a deficiency judgment, and provide the borrower $3,000 in borrower relocation assistance.
I’m hopeful this will improve in 2011. Meanwhile, here are a few new listings awaiting the banks price approval…
The home pictured above is 4 bedrooms, 2 bathrooms, and is located at 2964 Aukoi Street in Lihue in the Pua Loke subdivision. A convenient in-town location, this home has a very large lot with great potential for gardens, or expansion. I anticipate a price between $350K-$390K for this home. BPO has been ordered and I am expecting a response shortly.
The home pictured above is located at 4926 AliAli Rd. It is a Bank of America HAFA short sale. Based on recent comps it will be priced in the lower $200’s. Superbly upgraded kitchen and newer laminate flooring are some of the upgraded touches of this 4 bedroom home. Located in the Apopo Hale subdivision, these are some of the most affordable homes in the Kapaa area.
This 3 bedroom, 2 bathroom home is located at 5314 Kuapapa Rd. at the intersection of Kualono and Kuapapa Streets. The home has upgraded tile floors and is setup as two rentals, albeit non-conforming. The corner lots provide great privacy with lush landscaping on every side.
There are organic herb gardens and tropical fruit trees. This short sale with IndyMac Bank will list in the high $200K range. This location is less than a mile from Kealia Beach in Kapaa.
View Kauai Deals in my Kauai Foreclosure Gallery.
Review homeowner options at Realtor Ron’s AVOID FORECLOSURE Website