The federal government’s standardized rules and forms for short sales take effect April 5. On that date, the servicing arms of lenders who are participating in the government’s loan modification program, known as HAMP, have to participate in the standardized short sale procedures, because those procedures are considered a subset of the modification program.

Learn about the rules, including changes announced just two weeks ago, in a 14-minute video walk-through from NAR.

Want more? An hour-long webinar from NAR is also available.