New rules apply to real estate agents as well. You will need to contact an expert agent with real trainning to handle the new HAFA rules.

This law was implemented to stop the practice by many agents and title companies of charging home owners in financial hardship advanced fees for transacting or fascilitating a short sale.

Federal programs related to stoppomg foreclosures have been put in place to stem the tide of homes being lost in foreclosure after a loan modification or other programs did not save the borrower.

Despite all the press, banks are not working any faster or aliviating the backlog regarding loan modification and short sales. Agents need to be extremely knowledgeable to handle these HAFA negotiations to avoid a potential foreclosure. Attorneys are not better at this and may actually make things worse in many instances.