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Announcements
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NAR Issues Brochure Explaining New Short Sale Pgrm
NAR has issued a new brochure to help members understand the new Home Affordable Foreclosure Avoidance Program (HAFA) that takes effect on or before April 5, 2010. The purpose of the program is to help homeowners, who are unable to retain their homes under the Home Affordable Modification Program (HAMP), avoid foreclosure through a short sale or a deed in lieu of foreclosure. This program has the potential to revolutionize short sales!
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NOW AVAILABLE-HUD's Settlement Cost Booklet
HUD has released "Shopping for Your Home Loan: HUD's Settlement Cost Booklet." Under the Final RESPA Rule taking effect Jan. 1, 2010, lenders and mortgage brokers are required to provide borrowers with this booklet within three days of when the borrower applies for a loan.
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