FRESH START HOUSING PROGRAM / ALTERNATIVE TO SHORT SALE |
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Fresh Start Housing Program is a HAFA Non-Profit Initiative. Supplemental Directive (SD)11-02,issued on March 30,2011, amended the requirement that a short sale be on an "arm's length "basis,by permitting servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower,as long as the other requirements of the HAFA guideline are met. |
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