If you are a seller who lives in North San Diego County, Escondido, San Marcos, and beyond, and you need to sell your home as a "short sale" in 2010, it may be a little bit easier than you think.

Perhaps you have heard through the grape vine that short sales are nightmare transactions that take forever. Well, the Treasury Department is attempting to simplify that and help out consumers (borrowers in distress) throughout the nation.

This week the Treasury Department came out with Supplemental Directive 09-09 that addresses a new plan for lien holders to work with consumers on selling those short sales more quickly and efficiently.

This plan goes into effect on April 5, 2010 and is not meant to help every homeowner who wants to participate in a short sale. However, those who are able to participate in the plan may receive a Short Sale Agreement from their mortgage lender in late spring with details as to how the bank will accept a short sale of their property. With that Agreement, the borrower should then contact a qualified short sale listing agent in their area.

Additionally, there will be a financial incentive for those borrowers who would prefer to participate in lieu of letting their home go into foreclosure.

If you are interested in learning more about this program and how my office can help you with your short sale, feel free to contact us.