Government’s short-sale aid implemented

HOPES ARE HIGH FOR HAFA
A government program that went into effect Monday is expected to speed up the short-sale process and prevent lenders from filing deficiency judgments against home sellers, a move that could go a long way toward mitigating the foreclosure crisis in Las Vegas, real estate industry sources said in the Las Vegas Review Journal.

The article illustrates how the media sees the local real estate market.

The Home Affordable Foreclosure Alternatives, part of the Obama administration’s $75 billion Making Home Affordable program, sets guidelines that would streamline the process and provide incentives to both borrowers and lenders to avoid foreclosure.

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