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Treasury Department Issues Incentives for Short Sales - 01/05/10 07:35 AM
As the foreclosure crisis continues to deepen across the United States, there are several options available to distressed homeowners including short sales.  The Home Affordable Modification Program (HAMP) has been in effect during 2009, but very few homeowners have been able to qualify for this program to restructure their loan.  Realizing this, the U.S. Treasury launched the Home Affordable Foreclosure Alternative (HAFA), making the short sale  process a much more viable way to avoid foreclosure.
In a short sale, the mortgage holder, or Bank, agrees to take less than what is owed on the mortgage, plus releases the borrowers from any … (4 comments)

Greenville Foreclosure Options Press Release - 01/04/10 02:51 PM
Lee Cunningham recently attended a meeting with Dave Liniger, founder and owner of RE/MAX, in which he told agents about a recent meeting with the Treasury Department. In the meeting Dave detailed ways in which the foreclosure crises could be greatly alleviated by encouraging short sales. Short sales is the sale of properties which are in the foreclosure process. It's called a short sale when the home sells for less then what the homeowners owe on it therefore needing the bank to forgive the remaining debt. The Treasury Department recently issued new guidelines for banks regarding short sales in which they … (1 comments)

 

Lee Cunningham - Greenville SC Real Estate

Greenville, SC

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Cunningham Team RE/MAX R.P.

Address: 600 Independence Blvd., Greenville, SC, 29615

Office Phone: (864) 679-0707

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