Hope for HAFA?
The professional short sale loss mitigation firm announced today their trademark application as a national HAFA Short Sale Vendor. Major lending institutions and mortgage loan servicing companies often hire third-party vendors to assist in the facilitation of the short sale process. New Paradigm Mediations appears to be among the top contenders due to its adaptation to the new HAFA guidelines, and innovative business model.
John Tebbetts, the company's spokesperson described New Paradigm's services and explained the company's popularity with lenders and borrowers alike. "We make a difficult and detail-intensive process easier for everyone involved. We provide a comprehensive solution to help mortgage servicers meet the requirements of the new HAFA program. Using an experienced team of professionals and a fully integrated Envision platform, we improve communication among all parties and accelerate transaction completion."
The HAFA program is among the U.S. Treasury Department's latest attempt to help struggling homeowners who are "under water" or "upside down," owing more on their mortgages than their homes are worth. The plan offers incentives to both borrowers and lenders who utilize a short sale or deed-in-lieu to avoid costly foreclosures. While it may be some time before we can measure the success of the government program, companies like New Paradigm Mediations will undoubtedly make its implementation a little easier for everyone involved.
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