This week the US Treasury Department released it’s long awaited new short sale rules and forms. The new program is called HAFA (Home Affordable Foreclosure Alternatives) and sets forth new government policies for a short sale or deed-in-lieu of foreclosure. It is the new rules and procedures for HAMP participating lenders and servicers to follow when a homeowner doesn’t qualify for [...]
Tags: deed-in-lieu, HAFA, HAMP, Home Affordable Foreclosure Alternatives, loan modification, new short sale rules, short sale, short sale agreement, short sale forms, Treasury Department
Posted in Foreclosures, General Loss Mitigation Options, Loss Mitigation, Short Sales | No Comments »
Unfortunately, it looks the U.S. Treasury Department is going to miss its third self imposed deadline for issuing new short sale rules and policies to accompany the HAMP loan modification program. Despite an earlier statement that we would see the new policies this week, the Treasury Department released written testimony from an appearance before the Congressional Oversight Committee a [...]
Tags: Foreclosure Alternatives Program, government, short sale program, Short Sales, Treasury Department
Posted in General Loss Mitigation Options, Loss Mitigation, Short Sales | No Comments »
