Date Published: October 2012
A grantee can acquire a short sale property with NSP funds if the property meets one of the NSP definitions of foreclosed. The NSP Policy Alert: Guidance on the Impact of New Definitions for NSP-Eligible Properties provides the definition of abandoned and foreclosed and discusses different scenarios of properties that are considered abandoned as well as foreclosed.
The June 8, 2010 NSP webinar Acquisition Strategies provides information on acquiring short sale properties. Presentation slides, transcripts, and recordings for all NSP webinars are available at Training and Events.