In a model, not unlike the HAFA program, AZ Department of Housing is trying to offer incentives for upsidedown homeowners to choose a short sale over a foreclosure. Interesting program, but much like other programs, its success is linked directly to its ability to enforce. If we have issues with HAFA (enforced by the US Treasury), will a local program work? Personally, I am all for it - this sounds like a legitimate solution and a good use of money already allocated to the cause.
Full article from AZ Central here.
Arizona Department of Housing portal here.
Full article from AZ Central here.
Arizona Department of Housing portal here.
