Well, at least from the government and the REALTOR community. After reviewing the site yesterday, it seems only one lender so far is signed up, and that is Bank of America. It is expected that the other "monster mega-banks" will follow. This is actually good news for B of A, because they aren't exactly known for the speed at which they approve short sales. HAFA requires the lenders to respond within very tight timeframes, so this should be a vast improvement for Bank of America. Some of the highlights of the program are that it eliminates the possibility in the future of a deficiency judgement, it offers money to satisfy second lien holders, and it offers homeowners who successfully complete a short sale of their home an incentive of up to $3000 to help them move forward.
For more detailed information, and to see if you qualify, go to www.makinghomeaffordable.gov . If you have further questions, email me at Melia@CampbellRealtyCa.com.