Realtors Seek Reforms On ‘Short Sales'

With fewer than three of every five short sales successfully closing in California, desert Realtors have joined their peers statewide to ask regulators, elected officials, business organizations, lenders and others to initiate reforms.

Homeowners with proven hardships can negotiate “short sales,” essentially agreements that enable them to sell their homes for less than the balances owed in order to avoid foreclosure.



Those who own homes and are “upside down” in their mortgages, as well as mortgage lenders, may want to take advantage of the federal Home Affordable Foreclosure Alternative program, or HAFA, California Desert Association of Realtors officials said.

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