Starting February 1st, Making Home Affordable will be releasing a new HAFA guidlines to enhance the government’s short sale program. This will make it more efficient and less restrictive for distressed homeowners to participate.
The new policies include:
- Monthly Gross Income Verification
- Vacant Property Requirements
- Release of Subordinate Liens
- Timing for Issuance of Short Sale Agreement
- Timing for Response to Alternative Request for Approval of Short Sale
- Real Estate Brokerage Commissions
- Alternative Deed-in-Lieu Programs
- Borrower Notices Timelines
We hope that this will help keep you informed with these upcoming changes!
Read this article to learn why short sales are competitive with foreclosures in terms of cost. https://shortsaleadvisors.us/short-sales-becoming-a-cheaper-alternative-to-foreclosures/
To learn more about how one Charlotte, North Carolina, real estate firm is using foreclosures to help those in need, click here.
