Although these new regulations can potentially create an added layer of complexity to short sales, government agencies are still promoting short sales. Sellers who are contemplating a short sale need to have their financial situation reviewed carefully before beginning the short sale process, and short sale negotiators should take added care to become familiar with the new HUD regulations.
PS - Remember that a short sale is a team effort. Even new guidelines can be tackled when all parties are working together to help reach the successful closing!
Contact me at 434-951-0858 or Tucker@TGBLaw.com if you have questions.
William D. Tucker, III
Tucker Griffin Barnes P.C.