Our government knows that short sales are good for Americans and for America.
Short sales help American homeowners by preventing them from being foreclosed on. The fewer foreclosures there are, the better it is for our country and for our economy. That’s why the government has set up several different programs to facilitate short sales.
Making short sales faster and simpler.
Government short sale programs such as HAFA, FHFA and FHA have implemented guidelines to make short sales easier. These include standardization to reduce paperwork, and timelines for lenders to respond to short sale requests.
Cash incentives for completing short sales.
Most government programs provide cash payments - not only to borrowers, but also to their lenders - for completing a short sale. These payments are a strong incentive to all parties to negotiate in good faith and close the sale.