Is there a federal program like the “Short Sale” option for sellers out there for people who want to RE FI?

Posted on Sep 26, 2012 in HARP Refinance

Question by : Is there a federal program like the “Short Sale” option for sellers out there for people who want to RE FI?
A SHORT SALE is a program the federal gov offers to BAIL OUT sellers who’s property value is now less than what it was when they purchased their homes. If you can’t sell your house for what you owe on it the Fed. Gov. will pay off the difference. Thus leaving you owing nothing after the sale. What I want to know is are there programs out there for people that just want to refinance

Best answer:

Answer by Ryan M
Short sale is NOT a federal program at all. All short sale programs are programs of the individual lenders. The federal government has NOTHING to do with being able to short sale your house or not! You might want to do a bit more research on the subject

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One Comment

  1. No such thing, the Government has nothing to do with a short sale. A short sale is when the lender allows you to sell your home for less than owed.