Monday, January 04, 2010

Think Home Prices Will Hold?

Ticker notes a nuclear bomb in the fine print.

"HAMP", the Treasury's program to "prevent" foreclosures, did not originally appear to have a "stick." Well, here's the stick folks - for those who cannot qualify for a modification, or who "blow it" while on a trial program and simply don't get a permanent change servicers are in fact required to offer short sale or "deed in lieu" alternatives when they make sense.

That's about 750,000 homes, beginning April 1st. (Why NOT that date??)

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