May 24, 2011 – The Home Affordable Foreclosure Alternatives (HAFA) program is not off to a very impressive start. Last month marked the one-year anniversary of the Treasury launching the HAFA program and less than 13,000 agreements have been started. Of these less than half—5,447 transactions—have been completed.

HAFA is of course a government-related program, so these things take forever to get off the ground. Just look at the HAMP program. We’ve only started seeing halfway decent monthly numbers on it in the last few months and it was created long before HAFA.

Your country needs you! Private market solutions are necessary to help the economy and housing market recover.