Fannie Mae unveiled the details of their upcoming version of the Making Home Affordable Foreclosure Alternatives (HAFA) program which takes effect August 1, 2010. The purpose is to serve those borrowers who are eligible for a loan modification under the Home Affordable Modification Program (HAMP) but were unable to get one. In order to qualify, the borrower must have already been denied for a Making Home Affordable Modification Program (HAMP).
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