The Home Affordable Foreclosure Alternatives (HAFA) Program is a federal program to help distressed homeowners retain their homes. Payments received under the program usually are not taxable. They are treated as payments on the mortgage loans by the government on behalf of borrowers and are excludable from gross income under the general welfare doctrine.
Retirement plan set up by a self-employed person, providing tax-deductible contributions, tax-free income accumulations until withdrawal, and favorable averaging for qualifying lump-sum distributions.