Short Sale Incentives Coming in 2010, Treasury Says

HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which will issue their own versions of HAFA in coming weeks.

Short Sale Incentives Coming in 2010, Treasury Says Edmond Pauley Contents Mba chairman david Incentives prove successful Long time coming Rental bill lps: foreclosure starts More Americans confident they can.

Beginning April 5, 2010, under new Treasury Department rules, short sales will be presented as the potential next step for homeowners who are rejected by or fail to make the grade for the federal.

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Short Sales – New U.S. Treasury guidelines that put a 10-day time limit on short sales, and add financial incentives for buyers and sellers could help homeowners on the verge of foreclosure.. Homeowners stuck while banks mull whether to approve short sales could benefit from new federal guidelines that give lenders a 10-day limit to respond to offers.

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If it was a RENTER that received this – yes I’d say it is taxable but why on earth would a renter be receiving moving assistance from the bank? If it is the owner that received this – I’d say it is not taxable and is part of the short sale incentive which will end up in a loss.

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Treasury Announces Short Sale Incentive Program As part of its foreclosure prevention efforts, the Obama Administration is launching a new program to encourage short sales and deed-in-lieu of foreclosure transactions for financially pressed homeowners who are unable to obtain loan modifications.

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