The more homeowners that can utilize the HAFA program, the faster they move along, the better and quicker recovery the housing crisis will have. I am so sick of that 'housing crisis' phrase. But that's exactly what we have going on.
Although the treasury admits that the HAMP and HAFA numbers are dismal, they are better than nothing. I'm a 1/2 full, rather than 1/2 empty gal! Any way that we can get more people to not foreclose on their homes, the better. The less inventory that goes back to the banks, all the better.
I read a great article on Housingwire.com this morning. It truly mirrors my feelings:
WE can't move forward until we clean up our mess.
It won't be left behind.
Now, I'm certainly not saying that the HAFA program will expedite everyone's situation. But the more that try it, the faster we move on. The more homeowners that stop peeking from behind their curtains, that hope their problems will go away miraculously some how? If these homeowners would attempt to utilize some of their options...? We'd have less of that (another phrase I dislike) 'shadow inventory'.
I know there are plenty of people that have stopped paying their promised mortgage. Some can still definitely afford it and are considering a strategic default just because their property had dropped in value. And, others simply cannot make those payments. Many are just enjoying a free place to live until the bank comes to take it away. I hate that. Really bugs me. I'm upside down myself, but I love my home so I keep paying the bank back the money I borrowed from them.
At this point, it's a question of morals and ethics.
If you can't afford your home, call me. Let's try and do a HAFA Short-Sale to get you out of trouble. If you just don't want to pay the bank what you owe them? What goes around comes around....be careful going around that next corner in your life!
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