- HAFA no longer requires that servicers verify the borrowers finances
- HAFA no longer requires servicers to determine if the borrowers monthly payment is higher than a 31 percent debt-to-income ratio.
- HAFA no longer requires second-lien holders to agree to accept 6 percent of the unpaid principal balance owed them, up to $6,000. Servicers now decide who gets paid how much, with a cap still at $6000.
- HAFA now requires borrowers seeking a short sale get an answer/agreement within 30 days.
WOW! Thank you!!!
http://www.cnbc.com/id/40930787
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