Shortsale Gamechanger come April..

hey you all i was speaking with my realtor and they were telling me that theyre about to change the whole short sale structure my realtor didnt have all the info on it because the training hasnt started completely for the agents but just wondering didnt anybody have any on what is going on??? somewhat i do know they bringin in some haffa program thats suppose to make sure the credits still dont come after the people after the debt is forgivin…because before i know they still could up to 7 years…but info would be great on how everyone is suppose to approach this…

Yup Home Affordable Foreclosure Alternatives or HAFA is going to change some things around.

HAFA is the governments way of trying to establish a streamlined short sale and try to incentives borrowers and lenders to work together to avoid foreclosure and speed up the short sale process. The rules will be in effect between April 5, 2010, and Dec. 31, 2012

There are all types of crazy guideline such as requiring homeowners to make mortgage payments until the ss is approved. If a short sale does not fit HAFA guidelines it should be biz as usual.