The U.S. Department of Agriculture has issued guidance regarding voluntary short sales as well as the sale of real estate-owned properties in certain states. RD allows voluntary short sales by borrowers as well as the sale of REO properties at a discount, particularly to nonprofits and public entities providing transitional housing to reduce homelessness. For short sale acquisitions, the RD Customer Service Center (CSC) approves short sales for centralized states, according to the new guidance. Voluntary sales by borrowers to organizations may also qualify for non-program (NP) assumption financing. NP loan-assumption terms can be up to 30 years, the guidance stated. On the other hand, decentralized states are responsible for voluntary short sales and disposition of REO properties within their respective inventories, the guidance clarified. Qualified nonprofits and other entities that purchase REO properties for ...