new short sale could help lower foreclosure rate: HAFA Short Sales Have Updated Their Guidelines!
- 01/12/11 12:09 PM
In order to make the HAFA (Home Affordable Foreclosure Alternatives) more efficient and friendly to homeowners, the Treasury Department has released updated guidelines for the HAFA program. HAFA lenders have received criticism about not having a standardized short sale process, missing timelines, and failure to comply with general rules.
In December, the California Association of Realtors (CAR) sent a letter to the Obama administration suggesting several items they thought would help the HAFA Short Sale Program become more uniform and better approved. The letter is in response to several problems Realtors® found while trying to process a HAFA Short Sale. The … (1 comments)
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new short sale could help lower foreclosure rate: New Short Sale Could Help Lower Foreclosure Rate
- 10/25/09 09:01 AM
New incentives are in the works nationwide for promoting short sales in order to avoid more foreclosures than necessary. The plan is meant to prod lenders into allowing more short sales.
Currently short sales are frequently avoided by lenders because offers are seen as too far below the last appraised value of the property, even though the foreclosed upon sales price in the end may be even lower. The incentives that are being mulled over are expected to pass soon.
The plan is to give the lender $1,000 for allowing a short sale to occur and the buyer a $1,500 credit at … (0 comments)
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In order to make the HAFA (Home Affordable Foreclosure Alternatives) more efficient and friendly to homeowners, the Treasury Department has released updated guidelines for the HAFA program. HAFA lenders have received criticism about not having a standardized short sale process, missing timelines, and failure to comply with general rules. 
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