Short-Sale Incentives Start April 5th

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Title Company with First Option Lending

Short-Sale Incentives Start April 5th 
Potential buyers of short-sale homes might consider waiting until April 5th before making a formal offer.

That's the date the federal government will begin offering lenders financial incentives to hasten the process. Under the new rules, banks will seek a BPO before the property is listed for sale and let the sellers know a minimum number they are willing to accept. If the sellers bring a buyer with a good offer, the lender must accept it within 10 days.

Not all sellers are eligible for the program, dubbed the Home Affordable Foreclosure Alternatives (HAFA), but enough are that it is probably worth waiting.

Source: The Wall Street Journal, June Fletcher (03/19/2010)

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  1. Shanna Hall 04/11/2010 09:57 AM
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Rainmaker
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Terry McCarley
REALTOR, CDPE, SRES - Cape Coral, FL
Right Choice Realty - Cape Coral & Fort Myers, FL

Lets hope this new program really works - if it does, it will certainly help clear out alot of inventory and avoid a large number of foreclosures.

March 31, 2010 09:39 AM
Rainmaker
295,807
Terry McCarley
REALTOR, CDPE, SRES - Cape Coral, FL
Right Choice Realty - Cape Coral & Fort Myers, FL

Lets hope this new program really works - if it does, it will certainly help clear out alot of inventory and avoid a large number of foreclosures.

March 31, 2010 09:39 AM
Rainmaker
295,807
Terry McCarley
REALTOR, CDPE, SRES - Cape Coral, FL
Right Choice Realty - Cape Coral & Fort Myers, FL

Lets hope this new program really works - if it does, it will certainly help clear out alot of inventory and avoid a large number of foreclosures.

March 31, 2010 09:39 AM
Rainmaker
295,807
Terry McCarley
REALTOR, CDPE, SRES - Cape Coral, FL
Right Choice Realty - Cape Coral & Fort Myers, FL

Lets hope this new program really works - if it does, it will certainly help clear out alot of inventory and avoid a large number of foreclosures.

March 31, 2010 09:39 AM
Rainmaker
295,807
Terry McCarley
REALTOR, CDPE, SRES - Cape Coral, FL
Right Choice Realty - Cape Coral & Fort Myers, FL

Proxi errors created the multi entries - can you delete them - I can't. 

March 31, 2010 09:41 AM
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