Finally! It took a while, but the guidelines issued by the Treasury have placed the spotlight on short sales giving their nod to a viable alternative for homeowners who continue to struggle in this never ending housing crisis. It comes as no surprise to some. HomeTelos, who debuted its pre-approved short sale program in 2008, has achieved great success and received positive feedback from homeowners.
A recent article in Managing REO, Treasury Effort May Boost Short Sale Usage, highlights the benefits of these new guidelines for homeowners and servicers alike. No single decision will undo what has been done, so embracing short sales is a positive sign.