Last Friday, March 26, 2010, FHA Commissioner Dave Stevens was interviewed by one of my favorite Real Estate News Reporter Diana Oliver from CNBC Realty Trac. * Program NOT available to all homeowners in all markets.... * The Bank Investor will still have to agree to participate.... * Clearly, the powers that be are now finally recognizing the surge in strategic defaults.... * Qualifications: Write down 1st lien principal to 97.75% of home value. You read that correctly, ’some’ homeowners will have their negative equity wiped out to the point where they have some equity.... * 1st and 2nd” 115% LTV (loan to value).... * 14B in TARP funding...

New Treasury Department program, along with HAFA guidelines, will start PAYING HOMEOWNERS to avoid foreclosure..and do a short sale….some are starting to call this one…’Cash For Walkers’ Should they? In the past we had...'Cash For Keys'..’Cash For Clunkers’ and the proposed ‘Cash For Caulkers’….probably now they will call this new program…Cash For Walkers? Regardless of what, I am optimistic this new program will stirr a little more the Short Sales and glad for those additional homeowners who were undecided before but for the new program will take the government on their offer to do a What is a short sale? A short sale is a sales transaction...