Home Affordable Foreclosure
Introduction of Home Affordable Foreclosure Alternatives – Short Sale and Deed-in-Lieu of Foreclosure
December 3, 2009 by Financemyhome · Leave a Comment
This is FANTASTIC NEWS!!! FINALLY, they are establishing minimum requirements on resolving the short sale procedural process. Here is the link to the government news release:
https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf
Short Sales have been difficult to close, and these new measures are a huge step in the right direction. One major highlight: A lender must give a yes or no answer to an offer within 10 days. Also included: a moving allowance, incentives for sellers and lenders, commission rules, and a stipulation that releases sellers from debt liabilities.
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