Replies to This Discussion

Permalink Reply by Steele V. Propp on February 17, 2010 at 6:24am

Not a law. It is the new HAFA guidelines. It does appear that most if not all the big banks will voluntarily participate but there are a number of "outs".

Here is the offical policy paper:

https://www.hmpadmin.com/portal/docs/news/hampupdate113009.pdf

Here is NAR's take:

http://www.realtor.org/government_affairs/short_sales_hafa

If you google HAFA guidelines you can get a lot of pro and con sites. It holds some promise but so far goverment programs don't have an impressive record of success.

We'll see.

Permalink Reply by Mori Langshaw Sr on February 17, 2010 at 6:33am

Thanks Steele. I did a quick search and ended up on the hmpadmin.com site (after our saw the 1,000 blogs on the subject) :-).

Permalink Reply by Steele V. Propp on February 17, 2010 at 6:39am

Reading a few of the blogs can give you some perspectives of what "might" happen with the program. Some love it, some hate it and many are adopting a wait and see attitude. I find myself in the last group. Would love to see it do what it is supposed to do, but am prepared for lots of bugs in the program.

The folks at Foreclosure.com had a real good summary webinar last week. Don't know if they have a link to it or not but would be worth looking for.

Mori Langshaw Sr said:

Thanks Steele. I did a quick search and ended up on the hmpadmin.com site (after our saw the 1,000 blogs on the subject) :-).

Permalink Reply by Mori Langshaw Sr on February 17, 2010 at 6:52am

Cool. Thanks.