- Paperwork and timelines will be standardized;
- The short sale process will be shorter.
Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Highland Park, Silverlake, Sherman Oaks and other L.A. areas too. General news and musings as well.
Tuesday, July 13, 2010
New "HAFA" short sale conditions
"HAFA" stands for Home Affordability Foreclosure Alternatives and it's the latest set of short sale rules to come along. These will be implemented by most loan servicers on August 1, 2010. We Realtors have been strongly encouraged by our brokerage management to get up to speed on the new rules. I'm currently on module six of an eight-module webinar. So far, it certainly looks like the devil with be in the details, but here are two things I know now:
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