Tuesday, March 23, 2010
April 5th has become a deciding date for the potential buyers of short-sale homes for making a formal offer.
This is because that is the date when the federal government will begin offering lenders financial incentives to hasten the process. Under the new rules, the banks would let the sellers know a minimum number they are willing to accept after seeking a BPO before the property is listed for sale. The lender must accept the deal within 10 days if the sellers bring a buyer with a good offer.
According to the Home Affordable Foreclosure Alternatives (HAFA), not all sellers are eligible for the program. However it is worth waiting since eligible seller numbers are satisfactory.
This is because that is the date when the federal government will begin offering lenders financial incentives to hasten the process. Under the new rules, the banks would let the sellers know a minimum number they are willing to accept after seeking a BPO before the property is listed for sale. The lender must accept the deal within 10 days if the sellers bring a buyer with a good offer.
According to the Home Affordable Foreclosure Alternatives (HAFA), not all sellers are eligible for the program. However it is worth waiting since eligible seller numbers are satisfactory.



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