In response to the ongoing challenges REALTORS® face in working with short sales, C.A.R. officers met with officials at Bank of America last week to ask for their help and commitment in streamlining and improving their short sales process. The bank agreed to meet with C.A.R.’s Distressed Properties Task Force in the very near future to discuss ways to ensure a smoother short sales process.
C.A.R. plans to meet with other major lenders over the next several weeks to address members’ short sales concerns.
C.A.R. also recently sent letters to officials at the U.S. Dept. of the Treasury, Federal Housing Finance Agency, Fannie Mae, and Freddie Mac requesting immediate changes to the HAFA program and recommending solutions so the program can succeed.