HUD Makes New Laws for Short Sales
04
Oct

HUD Makes New Laws for Short Sales

HUD is getting scared. They’ve seen just how instrumental short sales are to the housing market recovery and so they’ve decided to throw their weight around just to make things more difficult (“better” in their language).

Basically they’ve announced some changes regarding short sales. These new policies came into effect this week and they’ll really make things more interesting to those of us in the field. Here are the main points:

1) No selling properties to people you’re related to or have a close personal connection with.

2) This “arm’s length” law is Federal so violating it is a serious offence.

3) Mortgage must be in default by the time the short sale closes.

4) Additional liens on the property must be released before closing.

5) Many (and I do mean many) changes to the way financial hardship is determined.

6) Lots of new timelines for when things like document submission and property appraisal need to be completed.

Some of these are pretty mild and make sense. Some of these are a bit extreme. I think you should go over to HUD’s website and check out the new regulations for yourself. If you’re not happy and we make enough noise I think someone out there might just hear us.

Subscribe and Get Cory Boatright's $297.00 Short Sale Course for FREE:
Simply Claim Your Subscription Now to: "Your Must Read Daily News Blog" - FREE!
We hate spam just as much as you




 

 

Terms & Conditions Privacy Policy Disclaimer About Contact
Click here to read the terms and conditions related to all Shortsaleology.com promotions, products and services. This will discuss your rights as a customer, our processes as well as our refunds procedures where applicable. We ensure that any personal data you enter into our system is encrypted and kept secure. None of this information is passed onto third parties. If you would like to know what personal information is on file, you may do so by contacting us here. Our complete privacy policy may be read here. All products displayed, unless otherwise mentioned, are instant digital downloads. Product images are used for promotional purposes only. Where unsure, please contact our helpdesk at support@shortsaleology.com before purchasing. Shortsaleology.com is the leading online source for educational and business tools for furthering your Short Sale Business. Fore more information on us, go to our main site here. For more on Cory Boatright, read here. If you have any questions about this promotion or Shortsaleology.com, please feel free to get in touch using the contact form.
         

Real Time Web Analytics