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Treasury releases new rules, simplifying the short sale process
The Treasury Department has just released new rules to help simplify the 'short sale' process.Visit https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf to view the full article.
This is a 43 page document that details what and how.  The Supplemental Directive 09-09, "Help For America's Homeowners" provides agents with insight on how servicers are being instructed to heave to and help, not just profit from keeping short sales in the system.
The emphasis seems to be on turning the corner on short sales and preventing them from becoming foreclosures.
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