Is the government’s mortgage modification program better off dead?

Some things just need to be put out of their misery

HAFA is falling far short of expectations. At this point, it’s kicking out more potential participants than new ones it’s accepting states the Atlantic.

Shifting the focus from REOs to short sales arguably caused an increase in prices during an already troubled market. For buyers, foreclosed assets are cheaper to purchase traditionally, and short sales are more home and homeowner-friendly. Nonetheless, by promoting short sales, HAFA undoubtedly pushed all distressed asset prices up higher, perhaps to levels that even compete with “healthier” houses states Housing Wire.

Published by Stout Law Firm

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