REAL Trends Updates

Federal program to encourage short sales

Beginning April 5, the Obama administration will encourage delinquent borrowers to avoid foreclosure and instead give up their homes in short sales by streamlining the process. The program will offer cash payment to the homeowner, as well as to the servicer and second-lien holder; and protect borrowers from future lender lawsuits for the unpaid mortgage balance. To curtail fraud, lenders will...  This content only available to REAL Trends Members. Please log in below.