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HAFA Affidavit Form Required

HAFA Affidavit Form Required by the U.S. Treasury

Part of the Federal Government’s Making Home Affordable (MHA) program, the Home Affordable Foreclosure Alternatives (HAFA) program was developed to give homeowners a way to settle their mortgage debt without going through a foreclosure. The buyer and seller of a HAFA Short Sale will now be required to fully execute the HAFA Affidavit prior to and as a condition of closing.

The HAFA Affidavit form certifies:

  • an arms-length transaction; this is the sale of a property in which the buyer and the seller have no existing relationship (they’re not family members, friends, business associates, etc.), and are acting in their own self-interest and are under no undue influence or pressure from other parties.
  • that no money is being given or received that is not reflected on the HUD-1 Settlement Statement.

The HAFA Affidavit will also include an agreement that there are no other agreements, understandings, contracts or offers related to the current or subsequent sale of the property.

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