Short sales and the HAFA program (Home Affordable Foreclosure Alternative) are getting attention in the media as we approach the program's start date of April 5, 2010.  Las Vegas broker-manager, Kathryn Bovard was recently interviewed by the Wall Street Journal and the article was just published today.  Kathryn blogs at ResidentialShortSale.com

Here's an excerpt.. read the entire article: New Program to Speed 'Short' Sales.

Lenders “have finally gotten on board with the fact that short sales will be a large part of the market over the next 24 to 36 months,” says Ms. Bovard.

While the popularity of short sales differs by market, in the Las Vegas brokerage that Ms. Bovard runs, 70% of pending sales are now short sales, she says.

For homeowners considering a short sale, Ms. Bovard says it’s important they speak to their trusted advisers, including their attorney and tax accountant, as well as a real-estate agent who has a short-sale designation.

For buyers, a lot of patience is required to finish one of these deals, says Ms. Bovard. “It’s a long, involved process. But the payoff is getting a tremendous value.”

 

Learn more about the HAFA program and it's potential impact on the short sale market.

Steven Kitnick, Attorney Robert Noggle and I will be presenting a Webinar sponsored by OnlineEd:

             Understanding the Home Affordable Foreclosure Alternatives:            
 HAFA Guidelines and the Impact on Your Short Sale Business

Wednesday, April 7^th 10am-11am PST

This webinar will cover:

• Why it is important for real estate professionals to understand the guidelines?   
• HAFA’s potential impact on the short sale market
• Who is eligible for the program?
• What loan servicers are participating
• An overview of the process, paperwork, and timeframes
• Benefits including incentives to borrowers and servicers; commission protection, release and full satisfaction for borrowers from future liability
• Potential pitfalls and a few unknowns regarding 2^nd liens, possible mortgage payments, and sharing of the commission with 3rd party vendors

Don't Miss this Important Webinar - Only $9.95!  Register NOW !

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