Real estate blog entries tagged with new treasury guidelines on short sales by Lea Deo, Shawnee Ks Real Estate, Shawnee Mission Homes (Keller Williams Legacy Partners, Inc.)

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Home : Blogs : Lea Deo, Shawnee Ks Real Estate, Shawnee Mission Homes : Shawnee KS Real Estate Blog : Tag "new treasury guidelines on short sales"

new treasury guidelines on short sales: Homeowners to Be Eligible for Government Payments in New Short Sale Guidelines - 03/08/10 11:29 AM

On March 4, 2010 the Obama Administration published detailed program guidelines and authorized
servicers to begin modifications and refinancings under the plan. The plan is designed with
the goal of preventing foreclosures and streamlining and expediting the short sale process.
You can read the complete Treasury press release
In the short sale process, lenders agree to accept less than what is owed on the property
due to declining home values and hardship on the part of the borrower. The process is
fraught with frustration for both buyers and sellers due to protracted time frames involved.
Highlights of the program involve:
Borrower eligibility: Before … (4 comments)

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