New guidelines to speed short sales?

New guidelines for lender approval of short sales kicked in this week under Home Affordable Foreclosure Alternatives enacted by the Federal government.

As reported in The Star-Ledger,

The new federal push provides lenders with financial incentives to accelerate the process — $1,500 for servicers to cover administrative costs and up to $2,000 for investors, according to the National Association of Realtors.

If experience is an indicator, homeowners may not have a lot to be excited about as the guidelines are voluntary.

More about the new guidelines can be found here.

For your next title order
or if you have questions about what you see here,
contact Stephen M. Flatow
Vested Title Inc.
648 Newark Avenue, P.O. Box 6453, Jersey City, NJ 07306
Tel 201-656-9220 - Fax 201-656-4506
E-mail vti@vested.com - www.vested.com

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