The US Treasury Department has released the new federal Home Affordable Foreclosure Alternatives program (HAFA), which was made to reduce the amount of foreclosures and therefore the amount of financial loss to the bank. Instead of foreclosure, people can choose to do a short sale. In addition to saving the bank money, short sale properties are also preferred because they are rarely left vacant and neglected. This decreases the vandalism and deterioration that are often associated with foreclosed homes. To learn more visit makinghomeaffordable.gov