Based on the real estate consultants, creditors are dealing out short-sale transactions much quicker and the percentage of short sales is foreseen to grow ahead even if the new HAFA guidelines have no effect whatsoever. According to real estate experts, short sales are the very best solution for homeowners who are in the midst of a heart breaking foreclosure and eviction. The mortgage brokers, the banks, federal government and the people that are purchasing real estate are responsible of leading them down this road so the realtors need to plan together to normalize the housing market.

The government has recently released two new programs, the Home Affordable Foreclosure Alternatives and the Second Lien Modification a couple of weeks ago this month to be able to assist in facilitating short sales, as part of the $75 billion Home Affordable Modification Program that was announced by the US president the previous year. The great importance of this program is that it stops the lender from giving a deficiency judgment against the owners of the homes. Real estate agents who did not receive real estate owned property (REO) accounts have had financial problems. As of the present, they are able to get on the trend and they’re able to get transactions again with regards to their real estate business.