On April 5, 2010 a new program will go into effect that will change the way short sales have been stigmatized and processed for the past several years. Under the US Treasury’s new HAFA plan (Home Affordable Foreclosure Alternatives) short sales will be more streamlined, less stressful and offer more to the seller in terms [...]
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What are “strategic defaults” and why are more and more people considering this option? A strategic default occurs when a homeowner who can afford to make their monthly payment chooses to stop paying and short sale their home because they feel it is a bad investment. With over 5 million homes now “upside down” it [...]
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