This page will be updated regularly with important news that relates to the short sale and foreclosure investing industry.

1-15-10 HUD Waives 90 Day Seasoning for Buyers! This is Huge!

This is an an incredible development! I've posted all the details on the blog, but just to clarify, this WILL change the entire short sale investing market! Visit the blog to get all the details describing how FHA Waives 90 Day Seasoning for Short Sales

12-16-09 Home Affordable Foreclosure Alternatives (HAFA) overview

The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures. HAFA alternatives are available to all HAMP-eligible borrowers who: 1) do not qualify for a Trial Period Plan; 2) do not successfully complete a Trial Period Plan; 3) miss at least two consecutive payment during a HAMP modification; or, 4) request a short sale or deed-in-lieu. Read about the entire HAFA program

11-2-09 Home Affordable Modification Program

The Home Affordable Modification Program is designed to help as many as 3 to 4 million financially struggling homeowners avoid foreclosure by modifying loans to a level that is affordable for borrowers now and sustainable over the long term. The program provides clear and consistent loan modification guidelines that the entire mortgage industry can use.

Borrower eligibility is based on meeting specific criteria including:
1) borrower is delinquent on their mortgage or faces imminent risk of default
2) property is occupied as borrower's primary residence
3) mortgage was originated on or before Jan. 1, 2009 and unpaid principal balance must be no greater than $729,750 for one-unit properties.

After determining a borrower's eligibility, a servicer will take a series of steps to adjust the monthly mortgage payment to 31% of a borrower's total pretax monthly income... Learn more about the HAMP program