More info on Short Sales and HAFA

HAFA, the government program that governs guidelines for Short Sales, has lots of stipulations and conditions for qualification.  One of the stipulations to keep in mind is that any transaction must be "arm's length".  That means that none of the parties involved may have close personal relationships.  Even if your potential buyer is a business associate; if you are known to be close in a way that might be construed as "personal" it may violate the rules of HAFA to enter into a contract with that individual.  True " arm's length" transactions in real estate mean that the playing field is level and no one has any unfair advantages.  Personal relationships, where meaningful information could be inadvertently conveyed are to be avoided.