understanding foreclosures: Latest News in Distressed Sales - 04/27/12 07:17 AM
JUNE 15th, 2012—That is the day that is supposed to change the distressed sales market altogether. Fannie Mae and Freddie Mac loans are to have a decision within the first 30-60 days. If more than the initial 30 days are needed to process a loan, the potential borrower will receive weekly updates and the decision will be reached by the 60 day mark.

This more regimented time-line will benefit both the servicers and the borrowers by increasing the overall accountability of the approval process. Servicers may counteroffer and expect a reply within five days. Borrowers and servicers alike will … (0 comments)

understanding foreclosures: Determining Speed of Foreclosures - 03/16/12 06:52 AM
The state you live is a high determining factor that will dictate the expediency of a foreclosure process. Some states boast an average timeline that only takes three months while others median timeline is three years. This disparity between states continues to grow. One factor is attributed to being the cause for this great difference: judicial oversight.
Judicial Overview:
States like Florida and New York maintain a system of judicial oversight in order to give their citizens the opportunity of a greater due process. In theory, this sounds like it is a positive for those undergoing the painful foreclosure process, … (3 comments)

 
Jenifer Lower (Owens) (Bozeman Montana Real Estate .net) Rainmaker_large

Jenifer Lower (Owens)

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