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March 11, 2010

**SHORT SALE ALERT** New federal Home Affordable Foreclosure Alternatives ("HAFA") guidelines go into effect April 5. Although not perfect, these guidelines might help sellers obtain short sale approval from their lenders. One key is that the seller must apply for a loan modification under the Home Affordable Modific...ation Program first. If the seller does not qualify for a modification, or fails to complete a modification, then they may be eligible for a HAFA short sale. See the attached article for a brief description of the program.

HAFA short sale rules may help sellers


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