Treasury Prepares Short Sale Option for Distressed Loans That Can’t Be Modified
October 8, 2009
Borrowers who are eligible for the Obama administration’s Home Affordable Modification Program will have an easier time executing a short sale or deed in lieu of foreclosure transaction under a new government program, according to draft Treasury Department documents obtained this week by Inside Mortgage Finance. Short sales and DIL transactions are well established loss mitigation tools, but it can...