Short Sale program flops

executed sales contract and requests a short sale prior to Chase sending an SSN. Home affordable foreclosure alternative (HAFA): A part of the making home affordable (mha) program that provides financial incentives to borrowers and Chase for utilizing a short sale or Deed-in-Lieu to avoid a foreclosure on an

Can short sale flips be flops? On June 10, 2010 Bloomberg Businessweek posted an interesting article about short sale fraud, short sale flips, and short sale flops. Written by John Gittlelsohn.

A short sale is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished. A short sale has two intrinsic and inseverable components.

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Short Sale Negotiation. Negotiation through the loss mitigation department will be the key factor in getting your new home at a deep discount. If opportunities emerge in which lenders can sell distressed properties without registering big losses, they will do it.

First, realize that the hafa short sale program prohibits resale or flip of any property you buy as a short sale for a certain time period. Even in a traditional short.

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"I would have the same conversation with a seller who is not in a short sale," Bangs said. "You price it in front of the market." The HAFA program guidelines issued by the Treasury.

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