Here are updated guidelines as of March 2010. I’m sure this s not the last of changes or updates going forward.

 Servicers who wish to participate must complete their applications by 10/03/2010 (was 12/31/2009)

 Latest “Supplemental Directive” was issued 03/26/2010 (was 11/30/2009)

 Added evaluation criteria:
Property may be vacant 90 days prior to the short sale agreement (SSA) date IF a borrower was relocated more than 100 miles by their employer. A borrower in Chapter 7 or 13 bankruptcy must also be considered for HAFA if directed by the trustee.

 Incentives:
Borrower $3,000 (was $1,500)
Servicer $1,500 (was $1,000)
Investor $2,000 (was $1,000)

 Junior lien negotiations
Up to 6 percent of the total indebtedness, not to exceed $6,000 total (was 3 percent and $3,000).

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