HAFA Short Sale San Diego
May 7, 2010 by admin · Leave a Comment
Matt Battiata, Broker & CEO of The Battiata Real Estate Group in San Diego, California discusses the California Home Buyers Tax Credit and the new Obama Making Home Affordable HAFA Short Sale Program, which went into effect on April 5th 2010.
The HAFA program requires banks to streamline their short sale approval process.
The HAFA Short Sale Program requires banks to evaluate and respond to offers on short sales within 10 business days, prohibits banks from foreclosing on properties during the short sale process and requires banks to agree to waive any rights to pursue a deficiency against the seller after the short sale.
The HAFA Short Sale program also requires lenders to credit sellers $3,000 at closing for moving expenses.
More information can be found at www.Battiata.com
