Comments on: Obama Administration Plan to Improve Short Sales

By: Tim Burrell

Tim Burrell — Sat, 03 Sep 2011 14:03:20 +0000

The short sale should be reported as something like settled for less than full value, or paid in full for less than full value. There is no specific designation for short sales but it should not be the same as a foreclosure

By: Mike Dollins

Mike Dollins — Fri, 02 Sep 2011 05:54:52 +0000

I did a short sell, and now I have a bad CAIVRS report on me. I can not get a VA loan for three years. My short sell was a FHA loan, & I am being reported as a foreclosure. I found out the hard way when I went to get a new VA loan,& was turned down.

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By: fannie mae short sale pilot program « Uncategorized « foreclosures web

fannie mae short sale pilot program « Uncategorized « foreclosures web — Mon, 21 Jun 2010 18:04:05 +0000

[...] 3.Obama Administration Plan to Improve Short Sales | Real Estate Short Short Sales Will be Streamlined and Encouraged by the Treasury On May 14th, 2009, the Making Home Affordable program created by the Obama administration was … Fannie Mae is proposing to have its own short sale agreement coming out soon, after they do a pilot program in Los Angeles to test it out. Thanks for asking. Tim… [...]

By: Tim Burrell

Tim Burrell — Sat, 12 Dec 2009 01:49:17 +0000

You need your short sale to be processed under a system that allows the $1,500. If you are part of an FHA short sale, the HUD Preforeclosure Sales Program allows for a payment to the seller that varies depending on when the sale closes. The new HAFA program that is part of Making Home Affordable allows the $1,500 payment, but most banks have not implemented that program, as they have until April 2010 to do so. For the regulations on this program look at https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf . Good luck.

By: Andrea

Andrea — Fri, 11 Dec 2009 18:02:20 +0000

Hello! Thanks for this great information. How does one go about getting the $1500 for the homeowner doing the shortsale? Did this go through with the Feds? Is there a resource you can point me to?
Thanks! Andrea

By: Lori

Lori — Wed, 02 Dec 2009 03:34:19 +0000

Thank you for your answer and concerns. I live in Florida and there seem to no rules to anything! I have been fighting with everyone already about the original appraisal when I purchased the home, I was upside down from that point. And with a large sum down, I have lost everything. Thank you again for listening.

Lori