Short Sale Incentives Starting April 5th

By
Real Estate Agent with Coldwell Banker Tomlinson Group

Short-Sale Incentives Start April 5th 
Potential buyers of short-sale homes might consider waiting until April 5th before making a formal offer.

That's the date the federal government will begin offering lenders financial incentives to hasten the process. Under the new rules, banks will seek a BPO before the property is listed for sale and let the sellers know a minimum number they are willing to accept. If the sellers bring a buyer with a good offer, the lender must accept it within 10 days.

Not all sellers are eligible for the program, dubbed the Home Affordable Foreclosure Alternatives (HAFA), but enough are that it is probably worth waiting.

Source: The Wall Street Journal, June Fletcher (03/19/2010)

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Travis Newton 03/23/2010 05:16 AM
Topic:
ActiveRain Community
Location:
Idaho Twin Falls County
Tags:
incentives
shortsale
start april 5th

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