Help your buyers to obtain a more affordable home

A guest entry from our friends at Asset Plan USA.

Making Home Affordable Programs – including HAMP, HAFA – Extended and Expanded through 12/31/13

The Treasury department recently released Supplemental Directive 12-02 (link: officially extending the term of all Making Home Affordable programs – including Home Affordable Modification Program (HAMP), Home Affordable Foreclosure Alternatives Program (HAFA), the Unemployment Program (UP), and Second Lien Modification Program (2MP) through December 31, 2013. The extension of these programs is a public acknowledgment for the need for continuing help and support for borrowers in default and facing foreclosure. The program extensions come on the heels of the expansion and extension of the Home Affordable Refinance Program or HARP (link:, also through December 31, 2013.

CRES believes that real estate partners who lead with government programs build better businesses – with more loyal clients and less risk – and to this end, we have partnered with education and training company AssetPlan who offers a HAFA Certification Course (link:, as well as a Government Housing Programs course ( The major changes to HAFA – which will be effective on eligible non-GSE loans starting June 1st on a mandatory basis – are a removal of occupancy requirements so that investor owned properties are now HAFA eligible, and an increase in the maximum subordinate lien payoff amounts from $6000 to $8500 in total.

Please feel free to review the documents provided above via links, or contact AssetPlan ( to sign up for one of their excellent training courses.

This blog/website is made available by CRES Insurance Services for educational purposes to give you general information and understanding of legal risks and insurance options, not to provide specific legal advice. This blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. Claims examples are for illustrative purposes only. Read your policy for a complete description of what is covered and excluded.

Originally Published July 17, 2012


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