The federal government is launching a program April 5th to increase and streamline short sales. It's called Home Affordable Foreclosure Alternatives (HAFA). The program aims to standardize short sale regulations and paperwork. All servicers participating in HAMP, the federal Home Affordable Modification Program, are contractually obligated to consider those ineligible for modifications for a foreclosure alternative. Read the whole article at azcentral.com
via azcentral.com
As an agent, I hope that this makes things better, however, I do not hold out too much hope because of the huge volume of short sales still to come.
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