Central Maryland Real Estate

On March 26, 2010, the government updated the HAFA guidelines and some associated forms.  You may click here to open the .pdf for a full description of the program and changes. The Basics – What is a Short Sale? A short sale is a transaction in which the lender, or lenders, agree to accept less [...]

What does HAFA mean to buyers and sellers?  Simply put, on April 5, 2010 almost 90% of mortgage servicers (lenders) will be required to comply with this program that is designed to assist sellers who are underwater with their mortgages.   Here a a few points to keep in mind: √  NOT every Short Sale will be a HAFA [...]